Ambarella (NASDAQ:AMBA) Sees Unusually-High Trading Volume

Shares of Ambarella Inc (NASDAQ:AMBA) saw an uptick in trading volume on Wednesday . 854,429 shares changed hands during mid-day trading, an increase of 74% from the previous session’s volume of 491,152 shares.The stock last traded at $71.49 and had previously closed at $67.45.

A number of research firms recently issued reports on AMBA. BidaskClub cut Ambarella from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Morgan Stanley boosted their price objective on Ambarella from $61.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Stifel Nicolaus boosted their price objective on Ambarella from $54.00 to $55.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Craig Hallum boosted their price objective on Ambarella from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Bank of America boosted their price objective on Ambarella from $50.00 to $53.00 and gave the stock an “underperform” rating in a report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $62.89.

The stock has a market capitalization of $2.11 billion, a P/E ratio of -63.83 and a beta of 1.31. The company has a current ratio of 8.81, a quick ratio of 8.42 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $62.07 and a two-hundred day simple moving average of $56.50.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.54. The firm had revenue of $67.90 million during the quarter, compared to analysts’ expectations of $65.00 million. Ambarella had a negative return on equity of 9.51% and a negative net margin of 16.33%. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 EPS. As a group, analysts forecast that Ambarella Inc will post -1.02 earnings per share for the current fiscal year.

In other news, CEO Feng-Ming Wang sold 3,440 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $56.31, for a total value of $193,706.40. Following the completion of the sale, the chief executive officer now directly owns 452,460 shares of the company’s stock, valued at approximately $25,478,022.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Christopher Day sold 641 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $56.31, for a total value of $36,094.71. Following the completion of the sale, the vice president now directly owns 6,705 shares of the company’s stock, valued at $377,558.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,808 shares of company stock valued at $724,919. 6.31% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in AMBA. FMR LLC increased its stake in shares of Ambarella by 2,202.9% in the 4th quarter. FMR LLC now owns 647,356 shares of the semiconductor company’s stock valued at $39,204,000 after acquiring an additional 619,245 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Ambarella by 37.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,084,633 shares of the semiconductor company’s stock valued at $65,685,000 after acquiring an additional 297,407 shares during the last quarter. State Street Corp increased its stake in shares of Ambarella by 43.7% in the 4th quarter. State Street Corp now owns 932,063 shares of the semiconductor company’s stock valued at $56,446,000 after acquiring an additional 283,255 shares during the last quarter. Columbus Circle Investors increased its stake in shares of Ambarella by 99.2% in the 3rd quarter. Columbus Circle Investors now owns 527,032 shares of the semiconductor company’s stock valued at $33,116,000 after acquiring an additional 262,519 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in shares of Ambarella in the 2nd quarter valued at about $5,484,000. 74.71% of the stock is owned by institutional investors.

Ambarella Company Profile (NASDAQ:AMBA)

Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.

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