The price of Ambarella Inc (NASDAQ:AMBA) shares last traded on Wall Street rose 2.14% to $50.12.
AMBA stock price is now 5.89% away from the 50-day moving average and -8.07% away from the 200-day moving average. The market capitalization of the company currently stands at $2.05B.
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With the price target reduced from $85 to $65, Wells Fargo Downgraded its rating from Overweight to Equal Weight for Ambarella Inc (NASDAQ: AMBA). On September 18, 2023, Northland Capital recently initiated its ‘Outperform’ rating on the stock quoting a target price of $70, while ‘Needham’ rates the stock as ‘Buy’
In other news, Schwarting Elizabeth M, Director sold 240 shares of the company’s stock on Mar 20 ’24. The stock was sold for $11,873 at an average price of $49.47. Upon completion of the transaction, the Director now directly owns 6,164 shares in the company, valued at $0.31 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 18 ’24, CEO Wang Feng-Ming sold 2,173 shares of the business’s stock. A total of $107,064 was realized by selling the stock at an average price of $49.27. This leaves the insider owning 806,632 shares of the company worth $40.43 million. A total of 6.27% of the company’s stock is owned by insiders.
During the past 12 months, Ambarella Inc has had a low of $40.31 and a high of $89.18. As of last week, the company has a debt-to-equity ratio of 0.01, a current ratio of 3.38, and a quick ratio of 3.03. The fifty day moving average price for AMBA is $47.3168 and a two-hundred day moving average price translates $54.3999 for the stock.
The latest earnings results from Ambarella Inc (NASDAQ: AMBA) was released for 2024-01-31. According to the Semiconductor Equipment & Materials Company, earnings per share came in at -0.15, beating analysts’ expectations of -0.21 by 0.06. This compares to -$0.29 EPS in the same period last year. The net profit margin was -74.81% and return on equity was -29.06% for AMBA. The company reported revenue of $51.62 million for the quarter, compared to $83.32 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -38.05 percent. For the current quarter, analysts expect AMBA to generate $53.87M in revenue.
