Ambarella (NASDAQ:AMBA) Stock Price Up 1% - Here's What Happened

Key Points

• Ambarella's stock rose 1% during trading, reaching a high of $69.25 and closing at $68.01, with trading volume significantly lower than average.
• Recent analyst ratings show a consensus of "Moderate Buy" for Ambarella, with target prices ranging from $80.00 to $95.00, indicating potential growth.
• A significant transaction occurred when Director Christopher B. Paisley sold 1,000 shares at $62.58, reducing his ownership by 2.48% while corporate insiders currently hold 5.70% of the stock.

Shares of Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) traded up 1% during mid-day trading on Monday . The company traded as high as $69.25 and last traded at $68.01. 111,465 shares were traded during trading, a decline of 87% from the average session volume of 870,041 shares. The stock had previously closed at $67.32.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC cut their price objective on shares of Ambarella from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Stifel Nicolaus cut their price objective on shares of Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Morgan Stanley cut their price objective on shares of Ambarella from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 27th. Summit Insights upgraded shares of Ambarella to a "hold" rating in a report on Thursday, May 29th. Finally, Rosenblatt Securities upped their target price on shares of Ambarella from $87.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $83.64.

Ambarella Stock Performance

The stock has a market cap of $2.67 billion, a PE ratio of -25.28 and a beta of 2.05. The company's 50 day simple moving average is $61.86 and its 200 day simple moving average is $60.84.

Insider Buying and Selling

In other Ambarella news, Director Christopher B. Paisley sold 1,000 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $62.58, for a total value of $62,580.00. Following the completion of the transaction, the director directly owned 39,281 shares of the company's stock, valued at $2,458,204.98. This trade represents a 2.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new position in Ambarella in the 4th quarter valued at $37,000. Sterling Capital Management LLC boosted its holdings in Ambarella by 629.3% in the 4th quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 516 shares during the period. Johnson Financial Group Inc. bought a new position in Ambarella in the 4th quarter valued at $71,000. Advisors Asset Management Inc. boosted its holdings in 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 period. Finally, National Bank of Canada FI bought a new position in Ambarella in the 4th quarter valued at $69,000. 82.09% of the stock is 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.