Ambarella (NASDAQ:AMBA) Sees Large Volume Increase After Analyst Upgrade

Ambarella, Inc. (NASDAQ:AMBA) shares saw unusually-strong trading volume on Monday after Susquehanna raised their price target on the stock from $80.00 to $110.00. Susquehanna currently has a positive rating on the stock. Approximately 855,792 shares were traded during trading, a decline of 15% from the previous session’s volume of 1,001,962 shares.The stock last traded at $75.1310 and had previously closed at $72.18.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus set a $106.00 price objective on Ambarella in a research note on Friday. Summit Insights downgraded shares of Ambarella from a “buy” rating to a “hold” rating in a report on Friday. Consumer Edge reiterated a “buy” rating on shares of Ambarella in a research note on Friday, May 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $115.00 price objective on shares of Ambarella in a research report on Tuesday, May 26th. Finally, Bank of America boosted their price objective on shares of Ambarella from $72.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.75.

Insider Buying and Selling

In other news, VP Chi-Hong Ju sold 4,729 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $52.77, for a total transaction of $249,549.33. Following the sale, the vice president directly owned 164,166 shares in the company, valued at approximately $8,663,039.82. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chan W. Lee sold 6,729 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $52.77, for a total transaction of $355,089.33. Following the completion of the transaction, the insider owned 156,370 shares of the company’s stock, valued at approximately $8,251,644.90. This trade represents a 4.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 86,799 shares of company stock valued at $5,877,902 over the last 90 days. 4.50% of the stock is currently owned by insiders.

Institutional Trading of Ambarella

Several institutional investors have recently modified their holdings of the business. Essential Partners LLC lifted its holdings in Ambarella by 90.1% during the 1st quarter. Essential Partners LLC now owns 481 shares of the semiconductor company’s stock worth $25,000 after buying an additional 228 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Ambarella by 362.2% during the second quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 326 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Ambarella in the first quarter worth approximately $30,000. Advisory Services Network LLC bought a new stake in Ambarella in the third quarter valued at approximately $33,000. Finally, Steward Partners Investment Advisory LLC increased its position in Ambarella by 162.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 525 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 325 shares during the period. Institutional investors own 82.09% of the company’s stock.

Ambarella Stock Performance

The stock has a market cap of $3.32 billion, a P/E ratio of -47.05 and a beta of 2.15. The firm’s fifty day simple moving average is $65.86 and its 200-day simple moving average is $68.27.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. The business had revenue of $100.36 million during the quarter, compared to the consensus estimate of $100.12 million. Ambarella had a negative net margin of 17.18% and a negative return on equity of 11.02%. Ambarella’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share. Analysts predict that Ambarella, Inc. will post -1.27 earnings per share for the current fiscal year.

About Ambarella

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.