Insider Selling: Ambarella, Inc. (NASDAQ:AMBA) COO Sells 1,490 Shares of Stock

Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee sold 1,490 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $79,774.60. Following the transaction, the chief operating officer now directly owns 121,406 shares in the company, valued at $6,500,077.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Ambarella Trading Down 2.5 %

Shares of Ambarella stock opened at $54.40 on Friday. The stock has a market cap of $2.23 billion, a PE ratio of -12.77 and a beta of 1.63. The company has a 50-day moving average of $52.07 and a two-hundred day moving average of $51.52. Ambarella, Inc. has a 12-month low of $39.69 and a 12-month high of $65.88.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The company had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $62.10 million. During the same period in the previous year, the firm posted ($0.76) earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, sell-side analysts forecast that Ambarella, Inc. will post -2.99 EPS for the current fiscal year.

Analyst Ratings Changes

AMBA has been the topic of a number of research reports. Bank of America raised their price target on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Wells Fargo & Company lowered their target price on Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, May 31st. Craig Hallum increased their price target on Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Roth Mkm reissued a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Finally, TD Cowen raised their target price on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.00.

Hedge Funds Weigh In On Ambarella

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Ambarella by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock valued at $43,171,000 after purchasing an additional 29,379 shares during the last quarter. Kodai Capital Management LP purchased a new stake in Ambarella during the fourth quarter valued at about $65,543,000. Norges Bank acquired a new stake in Ambarella during the fourth quarter worth about $23,495,000. SWS Partners increased its position in Ambarella by 25.3% during the 2nd quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock worth $4,290,000 after purchasing an additional 16,049 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in Ambarella in the first quarter valued at approximately $571,000. Institutional investors and hedge funds own 82.09% of the company’s stock.

Ambarella Company Profile

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.