Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee Sells 1,488 Shares

Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee sold 1,488 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $75.41, for a total value of $112,210.08. Following the sale, the chief operating officer now owns 119,918 shares in the company, valued at approximately $9,043,016.38. The trade was a 1.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ambarella Stock Up 3.3 %

Shares of Ambarella stock opened at $70.93 on Friday. The company has a market cap of $2.96 billion, a PE ratio of -18.38 and a beta of 1.68. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $81.32. The business has a 50 day moving average price of $63.91 and a 200-day moving average price of $57.58.

Institutional Investors Weigh In On Ambarella

A number of institutional investors and hedge funds have recently bought and sold shares of AMBA. Point72 Asset Management L.P. boosted its holdings in Ambarella by 1,556.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock worth $27,353,000 after acquiring an additional 476,406 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Ambarella by 36.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after purchasing an additional 343,385 shares in the last quarter. Barclays PLC boosted its holdings in Ambarella by 281.3% during the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after purchasing an additional 286,296 shares during the last quarter. Marshall Wace LLP grew its position in Ambarella by 69.2% in the 2nd quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after purchasing an additional 250,778 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Ambarella by 230.1% in the 2nd quarter. Acadian Asset Management LLC now owns 172,444 shares of the semiconductor company’s stock valued at $9,299,000 after buying an additional 120,204 shares during the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMBA. Susquehanna boosted their price target on Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Wednesday, November 27th. Needham & Company LLC increased their target price on shares of Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. StockNews.com downgraded shares of Ambarella from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Northland Securities reissued an “outperform” rating and set a $95.00 price objective (up previously from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Ambarella in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.17.

About Ambarella

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.