Ambarella (NASDAQ:AMBA) Sets New 12-Month High at $151.21

Ambarella, Inc. (NASDAQ:AMBA)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $151.21 and last traded at $150.44, with a volume of 4223 shares. The stock had previously closed at $146.56.

A number of equities research analysts have recently issued reports on AMBA shares. Oppenheimer reaffirmed a “hold” rating on shares of Ambarella in a report on Wednesday, June 2nd. Bank of America reaffirmed a “sell” rating and set a $100.00 target price on shares of Ambarella in a report on Wednesday, June 2nd. Colliers Securities reissued a “buy” rating and issued a $135.00 price objective on shares of Ambarella in a report on Wednesday, September 1st. Needham & Company LLC raised shares of Ambarella to a “buy” rating and set a $140.00 price objective for the company in a report on Wednesday, September 1st. Finally, Wells Fargo & Company upped their price objective on shares of Ambarella from $110.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, September 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $131.15.

The company has a market cap of $5.46 billion, a PE ratio of -109.37 and a beta of 1.41. The company’s 50 day simple moving average is $106.17 and its two-hundred day simple moving average is $103.12.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Monday, August 30th. The semiconductor company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.10. The company had revenue of $79.30 million during the quarter, compared to analyst estimates of $75.91 million. Ambarella had a negative net margin of 17.76% and a negative return on equity of 9.69%. Ambarella’s revenue was up 58.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. Equities analysts anticipate that Ambarella, Inc. will post -0.53 earnings per share for the current fiscal year.

In related news, Director Christopher B. Paisley sold 736 shares of the firm’s stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $132.44, for a total value of $97,475.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Chenming Hu sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $120.00, for a total transaction of $480,000.00. The disclosure for this sale can be found here. Insiders have sold 18,736 shares of company stock worth $2,470,476 in the last three months. Corporate insiders own 5.60% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. First Trust Advisors LP raised its holdings in Ambarella by 5.9% during the first quarter. First Trust Advisors LP now owns 16,783 shares of the semiconductor company’s stock worth $725,000 after purchasing an additional 935 shares in the last quarter. Comerica Bank acquired a new stake in Ambarella during the first quarter worth approximately $1,080,000. Victory Capital Management Inc. raised its holdings in Ambarella by 144.1% during the first quarter. Victory Capital Management Inc. now owns 118,812 shares of the semiconductor company’s stock worth $11,927,000 after purchasing an additional 70,131 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in Ambarella during the first quarter worth approximately $786,000. Finally, Natixis Advisors L.P. raised its holdings in Ambarella by 2.0% during the first quarter. Natixis Advisors L.P. now owns 22,465 shares of the semiconductor company’s stock worth $2,255,000 after purchasing an additional 449 shares in the last quarter. 74.50% of the stock is currently owned by hedge funds and other institutional investors.

About Ambarella (NASDAQ:AMBA)

Ambarella, Inc engages in the development and sale of video compression, image processing, and computer vision solutions. It offers processors and software that cater to end markets including security cameras, automotive cameras, industrial and robotic applications, and consumer applications. The company was founded by Feng Ming Wang and Leslie D.

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