Ambarella (NASDAQ:AMBA) Issues Earnings Results

Ambarella (NASDAQ:AMBA) released its quarterly earnings results on Thursday. The semiconductor company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.51), Zacks reports. Ambarella had a negative return on equity of 10.94% and a negative net margin of 17.18%.

Ambarella Price Performance

Shares of AMBA traded down $3.76 during midday trading on Thursday, reaching $63.38. The stock had a trading volume of 2,556,073 shares, compared to its average volume of 1,269,315. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -39.37 and a beta of 2.09. The company’s fifty day simple moving average is $74.33 and its two-hundred day simple moving average is $68.25. Ambarella has a 1-year low of $48.30 and a 1-year high of $96.69.

Insider Transactions at Ambarella

In other news, CFO John Alexander Young sold 5,033 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $67.54, for a total value of $339,928.82. Following the transaction, the chief financial officer owned 112,590 shares in the company, valued at approximately $7,604,328.60. This represents a 4.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Yun-Lung Chen sold 9,856 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $67.06, for a total value of $660,943.36. Following the sale, the vice president directly owned 66,515 shares in the company, valued at $4,460,495.90. This trade represents a 12.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 58,519 shares of company stock valued at $4,595,475 over the last ninety days. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake in Ambarella by 362.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 326 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Ambarella during the third quarter worth about $33,000. Steward Partners Investment Advisory LLC increased its position in shares of Ambarella by 162.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 525 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 325 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Ambarella by 44.1% in the 1st quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 286 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Ambarella in the 2nd quarter valued at about $63,000. Institutional investors and hedge funds own 82.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMBA. Northland Securities set a $101.00 target price on Ambarella in a report on Wednesday, June 17th. Susquehanna lifted their price objective on shares of Ambarella from $80.00 to $110.00 and gave the company a “positive” rating in a report on Friday, May 29th. Stifel Nicolaus set a $106.00 target price on shares of Ambarella in a report on Friday, May 29th. Summit Insights cut shares of Ambarella from a “buy” rating to a “hold” rating in a research report on Friday, May 29th. Finally, Bank of America upped their price objective on Ambarella from $72.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $101.86.

Ambarella Company Profile

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.