Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee Sells 1,490 Shares

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 value of $79,774.60. Following the transaction, the chief operating officer now owns 121,406 shares in the company, valued at approximately $6,500,077.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Ambarella Trading Up 3.5 %

Shares of Ambarella stock opened at $55.77 on Friday. The firm’s 50 day moving average is $52.22 and its 200 day moving average is $51.54. The firm has a market capitalization of $2.29 billion, a PE ratio of -13.09 and a beta of 1.63. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $65.88.

Ambarella (NASDAQ:AMBA) last posted its 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. The firm had revenue of $63.70 million for the quarter, compared to analysts’ expectations of $62.10 million. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.76) earnings per share. As a group, research analysts anticipate that Ambarella, Inc. will post -2.99 earnings per share for the current year.

Institutional Investors Weigh In On Ambarella

A number of hedge funds and other institutional investors have recently bought and sold shares of AMBA. Vanguard Group Inc. raised its position in Ambarella by 6.1% in the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock valued at $220,384,000 after purchasing an additional 248,297 shares during the last quarter. Millennium Management LLC increased its stake in shares of Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after buying an additional 94,257 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Ambarella by 36.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after buying an additional 343,385 shares during the last quarter. Kodai Capital Management LP acquired a new stake in Ambarella during the 4th quarter worth approximately $65,543,000. Finally, Dimensional Fund Advisors LP grew its holdings in Ambarella by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock worth $43,171,000 after acquiring an additional 29,379 shares during the last quarter. Institutional investors own 82.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AMBA shares. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Ambarella in a report on Wednesday, August 28th. Bank of America increased their price objective on shares of Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Craig Hallum boosted their target price on shares of Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Westpark Capital reaffirmed a “buy” rating and set a $85.00 price target on shares of Ambarella in a report on Monday, August 26th. Finally, Wells Fargo & Company decreased their price objective on shares of Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Ambarella currently has a consensus rating of “Hold” and a consensus target price of $75.00.

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.