Insider Selling: Ambarella, Inc. (NASDAQ:AMBA) CEO Sells 4,301 Shares of Stock

Ambarella, Inc. (NASDAQ:AMBA) CEO Feng-Ming Wang sold 4,301 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $230,275.54. Following the completion of the sale, the chief executive officer now directly owns 799,527 shares of the company’s stock, valued at $42,806,675.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Feng-Ming Wang also recently made the following trade(s):

• On Wednesday, September 4th, Feng-Ming Wang sold 4,382 shares of Ambarella stock. The stock was sold at an average price of $56.02, for a total value of $245,479.64.

Ambarella Trading Up 3.5 %

Shares of AMBA traded up $1.88 during mid-day trading on Thursday, hitting $55.77. The company’s stock had a trading volume of 443,451 shares, compared to its average volume of 622,446. The firm has a 50-day simple moving average of $52.34 and a 200 day simple moving average of $51.51. Ambarella, Inc. has a 1-year low of $39.69 and a 1-year high of $65.88. The firm has a market capitalization of $2.29 billion, a P/E ratio of -13.02 and a beta of 1.63.

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

Institutional Trading of Ambarella

A number of institutional investors have recently added to or reduced their stakes in the stock. Kodai Capital Management LP acquired a new stake in shares of Ambarella during the 4th quarter valued at approximately $65,543,000. Point72 Asset Management L.P. raised its holdings in Ambarella by 1,556.9% during the second quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock worth $27,353,000 after purchasing an additional 476,406 shares during the last quarter. Norges Bank acquired a new stake in Ambarella in the fourth quarter valued at $23,495,000. The Manufacturers Life Insurance Company increased its position in shares of Ambarella by 36.2% in 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 buying an additional 343,385 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Ambarella by 69.2% during the 2nd quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after buying an additional 250,778 shares during the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMBA shares. Wells Fargo & Company lowered their target price on shares of Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, May 31st. TD Cowen raised their price objective on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Bank of America lifted their price objective on shares of Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 target price on shares of Ambarella in a research note on Friday, August 23rd. Finally, Westpark Capital restated a “buy” rating and issued a $85.00 price target on shares of Ambarella in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Ambarella has an average rating of “Hold” and a consensus price target of $75.00.

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.