Short Interest in Ambarella, Inc. (NASDAQ:AMBA) Drops By 10.7%

Ambarella, Inc. (NASDAQ:AMBA) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 2,660,000 shares, a decrease of 10.7% from the February 29th total of 2,980,000 shares. Based on an average daily trading volume, of 543,600 shares, the days-to-cover ratio is currently 4.9 days.

Insider Transactions at Ambarella

In related news, COO Chan W. Lee sold 1,075 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $49.27, for a total value of $52,965.25. Following the transaction, the chief operating officer now owns 124,146 shares of the company’s stock, valued at $6,116,673.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CTO Leslie Kohn sold 1,198 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $49.27, for a total value of $59,025.46. Following the transaction, the chief technology officer now owns 964,664 shares of the company’s stock, valued at $47,528,995.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Chan W. Lee sold 1,075 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $49.27, for a total value of $52,965.25. Following the completion of the transaction, the chief operating officer now directly owns 124,146 shares in the company, valued at approximately $6,116,673.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,648 shares of company stock worth $327,595. 5.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ambarella

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. raised its stake in Ambarella by 4.9% in the 2nd quarter. Prudential Financial Inc. now owns 3,406 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 159 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Ambarella by 5.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,715 shares of the semiconductor company’s stock worth $390,000 after acquiring an additional 181 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ambarella by 2.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,207 shares of the semiconductor company’s stock worth $442,000 after acquiring an additional 195 shares during the last quarter. Register Financial Advisors LLC raised its stake in Ambarella by 6.1% in the 3rd quarter. Register Financial Advisors LLC now owns 3,500 shares of the semiconductor company’s stock worth $186,000 after acquiring an additional 200 shares during the last quarter. Finally, White Pine Capital LLC raised its stake in shares of Ambarella by 3.2% during the 4th quarter. White Pine Capital LLC now owns 7,552 shares of the semiconductor company’s stock valued at $463,000 after buying an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com raised Ambarella to a “sell” rating in a research report on Friday, February 2nd. Susquehanna increased their target price on Ambarella from $70.00 to $80.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Wednesday, December 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Ambarella in a research report on Wednesday, February 28th. Finally, Wells Fargo & Company cut Ambarella from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $85.00 to $65.00 in a research report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.54.

Ambarella Price Performance

Ambarella stock opened at $50.77 on Monday. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -11.97 and a beta of 1.68. Ambarella has a 1-year low of $43.59 and a 1-year high of $89.18. The business has a fifty day moving average price of $53.95 and a 200-day moving average price of $54.61.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Tuesday, February 27th. The semiconductor company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.03. The company had revenue of $51.62 million during the quarter, compared to analyst estimates of $51.68 million. Ambarella had a negative return on equity of 23.38% and a negative net margin of 74.81%. On average, equities research analysts anticipate that Ambarella will post -3.54 earnings per share for the current fiscal year.

Ambarella Company Profile

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network 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.