The Vanguard Group, Inc. recently announced the acquisition of new stake in Ambarella Inc (NASDAQ:AMBA). The institutional investor has increased its shareholding in the Technology company by 3.60% to 3.93 million shares with purchase of 0.14 million shares. This fresh investment now brings its stake to 9.86% valued currently at $230.73 million. In addition, BlackRock Fund Advisors raised its holdings by 0.11 million to 2.53 million shares. And SSgA Funds Management, Inc. has lifted its position by 10.44% or 0.15 million shares – to 1.61 million shares.
With over 0.47 million Ambarella Inc (AMBA) shares trading Friday and a closing price of $62.66 on the day, the dollar volume was approximately $29.22 million. The shares have shown a negative half year performance of -20.44% and its price on 12/22/23 lost nearly -0.08%. Currently, there are 39.04M common shares owned by the public and among those 37.83M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for AMBA have a consensus price objective of $72.71. The analysts have set the share’s price value over the next 12 months at a high of $90.00 and a low of $58.00. The average price target is 13.82% above its recent price level and a downside to the estimated low will see the stock lose -8.03% over that period. But an upside of 30.38% will see the stock hit the forecast high price target while median target price for the stock is $70.00.
Insiders at the company have transacted a total of 69 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 39 of these insider trades were purchases, accounting for 396,177 shares. Insider sales of the common stock occurred on 30 occasions, with total insider shares sold totaling 111,620 shares.
The top 3 mutual fund holders in Ambarella Inc are Delaware Ivy Science and Technolo, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. Delaware Ivy Science and Technolo owns 1.27 million shares of the company’s stock, all valued at over $74.48 million. Vanguard Total Stock Market ETF bought 2158.0 shares to see its total holdings expand to 1.17 million shares valued at over $68.59 million and representing 2.93% of the shares outstanding. Vanguard Small Cap Index Fund bought 2964.0 shares to bring its total holdings to over 0.97 million shares at a value of $57.11 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.44% of the shares outstanding.
Shares of Ambarella Inc (NASDAQ: AMBA) opened at $63.10, up $0.39 from a prior closing price of $62.71. However, the script later moved the day high at 63.60, down -0.08%. The company’s stock has a 5-day price change of -2.20% and 20.50% over the past three months. AMBA shares are trading -23.80% year to date (YTD), with the 12-month market performance down to -24.08% lower. It has a 12-month low price of $43.59 and touched a high of $99.86 over the same period. AMBA has an average intraday trading volume of 520.11K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.32%, 16.03%, and -6.46% respectively.
Institutional ownership of Ambarella Inc (NASDAQ: AMBA) shares accounts for 77.35% of the company’s 39.04M shares outstanding. Mutual fund holders own 30.77%, while other institutional holders and individual stakeholders account for 48.51% and 14.96% respectively.
It has a market capitalization of $2.52B and a beta (3y monthly) value of 1.67. The earnings-per-share (ttm) stands at -$3.02. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.47% over the week and 3.43% over the month.
Analysts forecast that Ambarella Inc (AMBA) will achieve an EPS of -$0.33 for the current quarter, -$0.32 for the next quarter and -$0.86 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.33 while analysts give the company a high EPS estimate of -$0.31. Comparatively, EPS for the current quarter was $0.23 a year ago. Earnings per share for the fiscal year are expected to decrease by -183.48%, and 6.41% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Ambarella Inc (AMBA) as a “Strong Buy” at a consensus score of 1.88. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 6 of the 17 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AMBA, a number of firms have released research notes about the stock. Northland Capital stated their Outperform rating for the stock in a research note on September 18, 2023, with the firm’s price target at $70.
