Insider Selling: Ambarella, Inc. (NASDAQ:AMBA) CFO Sells 2,139 Shares of Stock

Ambarella, Inc. (NASDAQ:AMBA) CFO John Alexander Young sold 2,139 shares of Ambarella stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $114,522.06. Following the transaction, the chief financial officer now directly owns 103,529 shares of the company’s stock, valued at $5,542,942.66. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Ambarella Trading Up 3.5 %

AMBA stock traded up $1.88 during midday trading on Thursday, reaching $55.77. The stock had a trading volume of 443,451 shares, compared to its average volume of 622,446. Ambarella, Inc. has a 52-week low of $39.69 and a 52-week high of $65.88. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -13.02 and a beta of 1.63. The company’s fifty day simple moving average is $52.34 and its 200 day simple moving average is $51.51.

Ambarella (NASDAQ:AMBA) last posted 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 net margin of 79.46% and a negative return on equity of 26.01%. The firm had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. During the same period in the previous year, the business posted ($0.76) earnings per share. Ambarella’s quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts predict that Ambarella, Inc. will post -2.99 EPS for the current year.

Institutional Investors Weigh In On Ambarella

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

Analysts Set New Price Targets

AMBA has been the topic of several analyst reports. TD Cowen raised their price target on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Westpark Capital restated a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. Wells Fargo & Company reduced their price target on Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a report on Friday, May 31st. Roth Mkm reissued a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a report on Wednesday, August 28th. Finally, Stifel Nicolaus boosted their price objective on Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.