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) traded down 4.5% on Friday . The company traded as low as $61.67 and last traded at $63.14. 146,675 shares were traded during mid-day trading, a decline of 83% from the average session volume of 861,409 shares. The stock had previously closed at $66.09.

Analyst Upgrades and Downgrades

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

Ambarella Trading Down 3.5%

The firm has a market cap of $2.70 billion, a price-to-earnings ratio of -25.60 and a beta of 2.05. The stock has a 50-day moving average of $61.86 and a two-hundred day moving average of $60.84.

Insider Buying and Selling at Ambarella

In other Ambarella news, Director Christopher B. Paisley sold 1,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $62.58, for a total transaction of $62,580.00. Following the completion of the sale, the director directly owned 39,281 shares in the company, valued at approximately $2,458,204.98. This trade represents a 2.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ambarella

Institutional investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its position in Ambarella by 4.0% during the 1st quarter. Rhumbline Advisers now owns 58,571 shares of the semiconductor company's stock worth $2,948,000 after acquiring an additional 2,249 shares during the period. Janney Montgomery Scott LLC boosted its position in Ambarella by 238.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,474 shares of the semiconductor company's stock worth $678,000 after acquiring an additional 9,491 shares during the period. GAMMA Investing LLC boosted its position in Ambarella by 6,804.3% during the 1st quarter. GAMMA Investing LLC now owns 16,156 shares of the semiconductor company's stock worth $813,000 after acquiring an additional 15,922 shares during the period. Principal Financial Group Inc. boosted its position in Ambarella by 61.8% during the 1st quarter. Principal Financial Group Inc. now owns 25,794 shares of the semiconductor company's stock worth $1,298,000 after acquiring an additional 9,857 shares during the period. Finally, Sei Investments Co. boosted its position in Ambarella by 17.6% during the 4th quarter. Sei Investments Co. now owns 10,959 shares of the semiconductor company's stock worth $797,000 after acquiring an additional 1,639 shares during the period. 82.09% of the stock is currently owned by institutional investors and hedge funds.

About Ambarella

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.

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