Short Interest in Ambarella, Inc. (NASDAQ:AMBA) Rises By 16.6%

Ambarella, Inc. (NASDAQ:AMBAGet Free Report) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totalling 2,880,000 shares, a growth of 16.6% from the April 15th total of 2,470,000 shares. Based on an average daily volume of 580,500 shares, the days-to-cover ratio is presently 5.0 days.

Ambarella Trading Up 0.5 %

Ambarella stock opened at $46.20 on Wednesday. The stock has a market cap of $1.89 billion, a P/E ratio of -10.90 and a beta of 1.65. The stock has a 50 day moving average of $48.17 and a 200-day moving average of $53.16. Ambarella has a 52 week low of $40.31 and a 52 week high of $89.18.

Ambarella (NASDAQ:AMBAGet Free Report) last released its earnings results on Tuesday, February 27th. The semiconductor company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($0.98) by $0.03. The company had revenue of $51.62 million during the quarter, compared to analysts’ expectations of $51.68 million. Ambarella had a negative return on equity of 23.78% and a negative net margin of 74.81%. As a group, equities analysts predict that Ambarella will post -3.53 earnings per share for the current fiscal year.

Insider Activity at Ambarella

In related news, COO Chan W. Lee sold 1,075 shares of the company’s 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 of the company’s stock, valued at $6,116,673.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Chan W. Lee sold 1,075 shares of the company’s 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 of the company’s stock, valued at $6,116,673.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Leslie Kohn sold 1,198 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $49.27, for a total value of $59,025.46. Following the completion of the transaction, the chief technology officer now directly owns 964,664 shares of the company’s stock, valued at $47,528,995.28. The disclosure for this sale can be found here. Insiders sold 6,648 shares of company stock valued at $327,595 over the last three months. 5.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ambarella

Institutional investors and hedge funds have recently made changes to their positions in the business. Gamco Investors INC. ET AL raised its position in shares of Ambarella by 36.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 14,013 shares of the semiconductor company’s stock valued at $711,000 after acquiring an additional 3,777 shares in the last quarter. Pitcairn Co. raised its position in shares of Ambarella by 11.2% during the 1st quarter. Pitcairn Co. now owns 5,161 shares of the semiconductor company’s stock valued at $262,000 after acquiring an additional 521 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Ambarella by 2,042.7% during the 1st quarter. Acadian Asset Management LLC now owns 52,240 shares of the semiconductor company’s stock valued at $2,648,000 after acquiring an additional 49,802 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Ambarella by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock valued at $220,384,000 after acquiring an additional 248,297 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its position in shares of Ambarella by 50.0% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 16,384 shares of the semiconductor company’s stock valued at $832,000 after acquiring an additional 5,464 shares in the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMBA has been the subject of several research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a report on Wednesday, February 28th. StockNews.com raised Ambarella to a “sell” rating in a research note on Friday, April 26th. Bank of America lowered their price target on shares of Ambarella from $62.00 to $50.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 16th. Susquehanna boosted their price objective on shares of Ambarella from $70.00 to $80.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Finally, Morgan Stanley upped their price objective on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $71.08.

Check Out Our Latest Report on AMBA

About Ambarella

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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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