Ambarella (NASDAQ:AMBA) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Shares of Ambarella, Inc. (NASDAQ:AMBA) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $66.51 and traded as low as $61.00. Ambarella shares last traded at $64.11, with a volume of 958,256 shares traded.

Analyst Ratings Changes

AMBA has been the subject of a number of recent analyst reports. Consumer Edge restated a “buy” rating on shares of Ambarella in a research note on Friday, May 22nd. Summit Insights downgraded shares of Ambarella from a “buy” rating to a “hold” rating in a report on Friday, May 29th. Northland Securities set a $101.00 price target on shares of Ambarella in a research report on Wednesday, June 17th. Susquehanna raised their price objective on shares of Ambarella from $80.00 to $110.00 and gave the stock a “positive” rating in a report on Friday, May 29th. Finally, Bank of America lifted their price objective on shares of Ambarella from $72.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.50.

Ambarella Price Performance

The company has a 50 day simple moving average of $71.96 and a 200-day simple moving average of $66.48. The stock has a market capitalization of $2.72 billion, a P/E ratio of -38.44 and a beta of 2.15.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. Ambarella had a negative return on equity of 10.94% and a negative net margin of 17.18%.The company had revenue of $100.36 million during the quarter, compared to analyst estimates of $100.12 million. During the same quarter last year, the firm posted $0.07 EPS. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. As a group, equities analysts forecast that Ambarella, Inc. will post -1.13 earnings per share for the current fiscal year.

Insider Transactions at Ambarella

In related news, VP Chi-Hong Ju sold 2,017 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $67.87, for a total transaction of $136,893.79. Following the sale, the vice president directly owned 165,924 shares in the company, valued at approximately $11,261,261.88. This represents a 1.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Chan W. Lee sold 2,951 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $67.87, for a total transaction of $200,284.37. Following the sale, the insider owned 157,098 shares in the company, valued at $10,662,241.26. The trade was a 1.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 60,932 shares of company stock valued at $4,873,601. 4.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ambarella

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP grew its holdings in Ambarella by 145.2% during the 4th quarter. GSA Capital Partners LLP now owns 24,800 shares of the semiconductor company’s stock valued at $1,757,000 after buying an additional 14,685 shares in the last quarter. Legal & General Group Plc increased its position in shares of Ambarella by 18.4% during the fourth quarter. Legal & General Group Plc now owns 614,017 shares of the semiconductor company’s stock valued at $43,497,000 after buying an additional 95,218 shares during the period. SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Ambarella in the fourth quarter worth about $1,345,000. Leonteq Securities AG purchased a new stake in shares of Ambarella in the fourth quarter worth about $1,903,000. Finally, Handelsbanken Fonder AB boosted its position in shares of Ambarella by 84.0% in the fourth quarter. Handelsbanken Fonder AB now owns 312,326 shares of the semiconductor company’s stock valued at $22,125,000 after acquiring an additional 142,551 shares during the period. Institutional investors own 82.09% of the company’s stock.

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.