Ambarella (NASDAQ:AMBA) Sets New 52-Week Low Following Analyst Downgrade

Shares of Ambarella, Inc. (NASDAQ:AMBA) hit a new 52-week low during mid-day trading on Wednesday after Bank of America lowered their price target on the stock from $62.00 to $50.00. Bank of America currently has an underperform rating on the stock. Ambarella traded as low as $43.23 and last traded at $43.66, with a volume of 494610 shares trading hands. The stock had previously closed at $44.49.

Several other equities analysts have also issued reports on AMBA. StockNews.com raised shares of Ambarella to a “sell” rating in a report on Saturday, April 13th. Wells Fargo & Company lowered shares of Ambarella from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $85.00 to $65.00 in a report on Wednesday, January 3rd. Morgan Stanley raised their target price on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Ambarella in a research note on Wednesday, February 28th. Finally, Susquehanna raised their target price on shares of Ambarella from $70.00 to $80.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $71.08.

Insider Transactions at Ambarella

In other news, CEO Feng-Ming Wang sold 2,173 shares of Ambarella stock in a transaction on Monday, March 18th. The shares were sold at an average price of $49.27, for a total transaction of $107,063.71. Following the completion of the sale, the chief executive officer now directly owns 806,632 shares in the company, valued at $39,742,758.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO John Alexander Young sold 1,546 shares of Ambarella stock in a transaction on Monday, March 18th. The shares were sold at an average price of $49.27, for a total transaction of $76,171.42. Following the completion of the sale, the chief financial officer now directly owns 107,571 shares in the company, valued at $5,300,023.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Feng-Ming Wang sold 2,173 shares of Ambarella stock in a transaction on Monday, March 18th. The stock was sold at an average price of $49.27, for a total transaction of $107,063.71. Following the sale, the chief executive officer now owns 806,632 shares of the company’s stock, valued at $39,742,758.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,648 shares of company stock worth $327,595. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tributary Capital Management LLC lifted its position in Ambarella by 20.2% during the fourth quarter. Tributary Capital Management LLC now owns 225,937 shares of the semiconductor company’s stock valued at $13,848,000 after purchasing an additional 38,018 shares during the period. Quantbot Technologies LP lifted its position in Ambarella by 1,300.9% during the third quarter. Quantbot Technologies LP now owns 22,709 shares of the semiconductor company’s stock valued at $1,204,000 after purchasing an additional 21,088 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Ambarella by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 294,469 shares of the semiconductor company’s stock valued at $15,616,000 after purchasing an additional 10,774 shares during the period. Aigen Investment Management LP acquired a new position in Ambarella during the third quarter valued at $614,000. Finally, Deutsche Bank AG lifted its position in Ambarella by 49.8% during the third quarter. Deutsche Bank AG now owns 26,832 shares of the semiconductor company’s stock valued at $1,423,000 after purchasing an additional 8,921 shares during the period. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Ambarella Stock Down 2.8 %

The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -10.14 and a beta of 1.66. The business’s 50-day moving average is $52.14 and its 200-day moving average is $54.02.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Tuesday, February 27th. The semiconductor company reported ($0.95) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.03. Ambarella had a negative net margin of 74.81% and a negative return on equity of 23.78%. The company had revenue of $51.62 million during the quarter, compared to analysts’ expectations of $51.68 million. As a group, analysts expect that Ambarella, Inc. will post -3.53 EPS for the current year.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.