Ambarella (NASDAQ:AMBA) Trading Down 4.5% - Here's What Happened

Key Points

• Ambarella's stock decreased by 4.5% on Friday, hitting a low of $61.67 before closing at $63.14, with trading volume significantly down to 146,675 shares compared to the average of 861,409 shares.
• Equity analysts have recently shifted their price targets for Ambarella, with Needham lowering it from $110.00 to $90.00, while Rosenblatt Securities raised theirs from $87.00 to $95.00, reflecting a range of opinions on the stock's future performance.
• Insider trading activity involved Director Christopher B. Paisley selling 1,000 shares at $62.58 each, resulting in a 2.48% decrease in his holdings, indicating varying levels of confidence among insiders.

Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) dropped 4.5% on Friday . The company traded as low as $61.67 and last traded at $63.14. Approximately 146,675 shares were traded during trading, a decline of 83% from the average daily volume of 861,409 shares. The stock had previously closed at $66.09.

Analyst Ratings Changes

AMBA has been the subject of a number of analyst reports. Summit Insights raised shares of Ambarella to a "hold" rating in a research note on Thursday, May 29th. Susquehanna raised their target price on shares of Ambarella from $80.00 to $90.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Needham & Company LLC decreased their target price on shares of Ambarella from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Morgan Stanley decreased their target price on shares of Ambarella from $90.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, May 27th. Finally, Rosenblatt Securities raised their target price on shares of Ambarella from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $83.64.

Ambarella Price Performance

The company's 50-day moving average is $61.89 and its two-hundred day moving average is $60.66. The company has a market cap of $2.74 billion, a P/E ratio of -25.90 and a beta of 2.08.

Insider Transactions at Ambarella

In related news, Director Christopher B. Paisley sold 1,000 shares of the firm's stock in a transaction that occurred 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 sale, the director owned 39,281 shares in the company, valued at approximately $2,458,204.98. This trade represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.70% of the company's stock.

Institutional Investors Weigh In On Ambarella

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its position in Ambarella by 32.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 6,783 shares of the semiconductor company's stock valued at $493,000 after purchasing an additional 1,669 shares in the last quarter. Sei Investments Co. lifted its position in Ambarella by 17.6% during the fourth quarter. Sei Investments Co. now owns 10,959 shares of the semiconductor company's stock valued at $797,000 after purchasing an additional 1,639 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in Ambarella by 1,875.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,160 shares of the semiconductor company's stock valued at $241,000 after purchasing an additional 3,000 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Ambarella by 345.2% during the 4th quarter. Alliancebernstein L.P. now owns 189,235 shares of the semiconductor company's stock valued at $13,765,000 after buying an additional 146,729 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Ambarella by 2.9% during the 4th quarter. Franklin Resources Inc. now owns 45,363 shares of the semiconductor company's stock valued at $3,300,000 after buying an additional 1,279 shares in the last quarter. Hedge funds and other institutional investors own 82.09% of the company's stock.

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.