Ambarella Inc (NASDAQ:AMBA) continues to outperform


Dallas, Texas 10/07/2013 (Financialstrend) – Ambarella Inc (NASDAQ:AMBA) operates in the semiconductor equipment and materials space. The stock of the firm has risen by close to 30% in the past 30 days. In fact Ambarella jumped up close to 5% during trading on October 1, when most other stock were caught up in fears of consequences of Government shut down. The stock of this chip maker which goes into manufacturing video cameras registered its 52 week high during this latest Bull Run.

The major gains in the valuation happened post the declaration of its steady quarter results as of September 18. The stock zoomed up by close to 16.5% in the span of one week of trading to hit price points which were close to the stocks 52 week high valuations of $20.9. The shares are currently trading at $19.98 per share up 2.2% from its previous day close. This represents a staggering 260% appreciation in value per share from its 52 week low pricing of $5.5 per share. In an oddity, the higher valuations are not accompanied by high volumes of trading in the stock. A case in point is trading patterns on October 4. Close to 908,258 shares of the stock changed hands in comparison to its 65 day average daily trading volume of 1.14 million.

The stock has a total of 27.4 outstanding shares of which close to 9% are held by insiders. AMBA has a market capitalization of $547 million with income ranging around $17.5 million.  The income is generated from sales of close to $138 million over the previous 12 months trailing period. The sustained demand for the stock is in line with the strong results that Ambarella has been showcasing over the past few quarters. In the just concluded quarter, the sales have gone up by 34% in comparison to its previous quarter close.