Ambarella (NASDAQ:AMBA) Hits New 52-Week Low – Time to Sell?

Ambarella, Inc. (NASDAQ:AMBA) shares reached a new 52-week low on Monday . The stock traded as low as $38.86 and last traded at $39.08, with a volume of 50311 shares. The stock had previously closed at $41.94.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMBA. Susquehanna lifted their target price on shares of Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. Stifel Nicolaus upped their target price on Ambarella from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of Ambarella in a research note on Thursday, February 27th. Bank of America raised Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Monday, December 16th. Finally, StockNews.com upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.67.

Ambarella Stock Performance

The business has a 50 day simple moving average of $64.15 and a 200-day simple moving average of $65.28. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -10.63 and a beta of 1.86.

Insider Buying and Selling

In related news, VP Christopher Day sold 479 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total transaction of $26,354.58. Following the completion of the sale, the vice president now owns 15,441 shares in the company, valued at approximately $849,563.82. This trade represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Chan W. Lee sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $74.12, for a total transaction of $74,120.00. Following the sale, the chief operating officer now owns 113,918 shares of the company’s stock, valued at approximately $8,443,602.16. The trade was a 0.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,328 shares of company stock worth $810,467. 5.70% of the stock is owned by corporate insiders.

Institutional Trading of Ambarella

Hedge funds have recently made changes to their positions in the company. Moody National Bank Trust Division bought a new position in Ambarella during the first quarter worth about $564,000. Wealth Enhancement Advisory Services LLC purchased a new position in Ambarella in the 4th quarter valued at approximately $278,000. Centaurus Financial Inc. purchased a new stake in shares of Ambarella during the fourth quarter worth $325,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Ambarella in the fourth quarter valued at $452,000. Finally, Mackenzie Financial Corp lifted its holdings in Ambarella by 3.2% during the 4th quarter. Mackenzie Financial Corp now owns 6,406 shares of the semiconductor company’s stock worth $466,000 after purchasing an additional 201 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors.

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.