Insider Selling: Ambarella, Inc. (NASDAQ:AMBA) COO Sells 1,000 Shares of Stock

Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee sold 1,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $73.48, for a total value of $73,480.00. Following the sale, the chief operating officer now directly owns 114,918 shares in the company, valued at $8,444,174.64. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Ambarella Stock Up 2.5 %

NASDAQ AMBA opened at $76.20 on Thursday. The stock’s 50-day simple moving average is $68.09 and its two-hundred day simple moving average is $59.21. Ambarella, Inc. has a twelve month low of $39.69 and a twelve month high of $81.32. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of -19.74 and a beta of 1.66.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AMBA shares. Bank of America upgraded Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research report on Monday, December 16th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of Ambarella in a report on Friday, December 6th. Needham & Company LLC raised their price target on shares of Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Susquehanna upped their price target on shares of Ambarella from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Wednesday, November 27th. Finally, Craig Hallum increased their price objective on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.17.

Hedge Funds Weigh In On Ambarella

A number of large investors have recently modified their holdings of AMBA. Dynamic Technology Lab Private Ltd boosted its stake in Ambarella by 592.2% in the third quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock worth $1,460,000 after buying an additional 22,144 shares in the last quarter. Mirabella Financial Services LLP bought a new stake in shares of Ambarella in the 3rd quarter worth approximately $1,530,000. FMR LLC boosted its stake in shares of Ambarella by 185.4% in the 3rd quarter. FMR LLC now owns 17,102 shares of the semiconductor company’s stock valued at $965,000 after purchasing an additional 11,110 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Ambarella by 7.0% during the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after purchasing an additional 94,257 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in Ambarella by 6,014.3% in the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 842 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.

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.