Elizabeth M. Schwarting Sells 240 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) Director Elizabeth M. Schwarting sold 240 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $53.16, for a total transaction of $12,758.40. Following the sale, the director now directly owns 9,068 shares of the company’s stock, valued at approximately $482,054.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ambarella Stock Up 3.5 %

NASDAQ AMBA opened at $55.77 on Friday. The firm has a 50-day moving average price of $52.22 and a 200 day moving average price of $51.54. The stock has a market capitalization of $2.29 billion, a P/E ratio of -13.09 and a beta of 1.63. Ambarella, Inc. has a 52-week low of $39.69 and a 52-week high of $65.88.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The firm had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $62.10 million. During the same period in the previous year, the firm posted ($0.76) earnings per share. Ambarella’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts expect that Ambarella, Inc. will post -2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ambarella

Several hedge funds have recently bought and sold shares of the stock. Azzad Asset Management Inc. ADV grew its holdings in shares of Ambarella by 2.4% during the second quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock worth $539,000 after buying an additional 231 shares in the last quarter. Linden Thomas Advisory Services LLC raised its holdings in Ambarella by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock valued at $945,000 after buying an additional 288 shares during the period. CWM LLC lifted its holdings in shares of Ambarella by 127.7% during the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 304 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Ambarella by 8.0% in the first quarter. Principal Financial Group Inc. now owns 4,882 shares of the semiconductor company’s stock valued at $248,000 after buying an additional 363 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Ambarella by 3.7% in the second quarter. Arizona State Retirement System now owns 10,893 shares of the semiconductor company’s stock valued at $588,000 after acquiring an additional 385 shares in the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Craig Hallum boosted their price target on shares of Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Bank of America raised their target price on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Ambarella in a research report on Friday, August 23rd. Finally, Wells Fargo & Company decreased their price target on shares of Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a research note on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $75.00.

Ambarella Company Profile

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence 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.