Ambarella Inc (NASDAQ:AMBA) VP Sells $371,563.20 in Stock

Ambarella Inc (NASDAQ:AMBA) VP Yun-Lung Chen sold 5,734 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $64.80, for a total value of $371,563.20. Following the transaction, the vice president now owns 23,397 shares of the company’s stock, valued at $1,516,125.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of AMBA stock traded up $2.54 during trading on Wednesday, hitting $66.30. The company’s stock had a trading volume of 962,878 shares, compared to its average volume of 580,231. Ambarella Inc has a 52 week low of $30.00 and a 52 week high of $67.15. The company has a market cap of $2.11 billion, a PE ratio of -59.73 and a beta of 1.20. The business has a fifty day moving average of $50.19 and a 200-day moving average of $45.75. The company has a current ratio of 9.01, a quick ratio of 9.42 and a debt-to-equity ratio of 0.01.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.05. Ambarella had a negative net margin of 19.38% and a negative return on equity of 10.82%. The company had revenue of $56.41 million for the quarter, compared to analyst estimates of $52.00 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was down 9.7% compared to the same quarter last year. As a group, research analysts predict that Ambarella Inc will post -1.13 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new stake in Ambarella in the second quarter worth $47,000. Captrust Financial Advisors purchased a new position in Ambarella during the second quarter valued at $79,000. Aperio Group LLC bought a new position in Ambarella in the 2nd quarter worth about $89,000. Belpointe Asset Management LLC purchased a new stake in shares of Ambarella during the first quarter valued at approximately $119,000. Finally, Bank of Montreal Can boosted its stake in Ambarella by 1,338.5% during the 2nd quarter. Bank of Montreal Can now owns 2,877 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 2,677 shares during the last quarter. Institutional investors and hedge funds own 74.59% of the company’s stock.

Several analysts have recently commented on the stock. Cowen reissued an “overweight” rating on shares of Ambarella in a research note on Tuesday, September 3rd. Craig Hallum set a $62.00 price objective on Ambarella and gave the company a “buy” rating in a research report on Friday, August 30th. ValuEngine raised Ambarella from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. Bank of America set a $50.00 price objective on Ambarella and gave the company a “sell” rating in a report on Friday, August 30th. Finally, Dougherty & Co set a $59.00 price objective on shares of Ambarella and gave the company a “buy” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $59.38.

Ambarella Company Profile

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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