Ambarella (AMBA) : Traders are bullish on Ambarella (AMBA) as it has outperformed the S&P 500 by a wide margin of 15.3% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 9.33%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 9.39% in the last 1 week, and is up 16.49% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 10.48% and the 50-Day Moving Average is 18.93%. Ambarella (NASDAQ:AMBA): stock turned positive on Friday. Though the stock opened at $61.98, the bulls momentum made the stock top out at $64.12 level for the day. The stock recorded a low of $61.9 and closed the trading day at $64.09, in the green by 3.71%. The total traded volume for the day was 1,156,246. The stock had closed at $61.8 in the previous days trading.
The company Insiders own 5.43% of Ambarella shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -4.75% . Institutional Investors own 52.65% of Ambarella shares. During last six month period, the net percent change held by insiders has seen a change of -7.02%. Also, Deutsche Bank maintains its rating on Ambarella (NASDAQ:AMBA). The global brokerage major raises the current price target from $45 per share to $47 per share. Analysts at the Deutsche Bank have a current rating of Hold on the shares. The rating by the firm was issued on June 3, 2016.
Ambarella, Inc. is a developer of semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Companys system-on-a-chip (SoC) designs HD video processing, image processing, audio processing and system functions onto a single chip, delivering video and image. In the camera market, its platform enables the creation of high-quality video content in wearable sports cameras, automotive aftermarket cameras, professional and consumer Internet Protocol (IP), security cameras, telepresence cameras and unmanned aerial vehicles (UAVs). In the infrastructure market, the Companys solutions manage IP video traffic, broadcast encoding and transcoding and IP video delivery applications. The Company sells its solutions to original design manufacturers (ODMs), and original equipment manufacturers (OEMs).