Ambarella (NASDAQ:AMBA) Stock Price Down 0.5% Following Insider Selling

Ambarella, Inc. (NASDAQ:AMBA) shares were down 0.5% on Thursday after an insider sold shares in the company. The stock traded as low as $54.17 and last traded at $54.80. Approximately 111,510 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 624,980 shares. The stock had previously closed at $55.06.

Specifically, VP Yun-Lung Chen sold 5,963 shares of Ambarella stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total value of $343,230.28. Following the completion of the sale, the vice president now owns 62,026 shares of the company’s stock, valued at approximately $3,570,216.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMBA. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. Craig Hallum boosted their target price on shares of Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Roth Mkm reissued a “neutral” rating and set a $60.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. Stifel Nicolaus boosted their target price on shares of Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Wells Fargo & Company dropped their price objective on shares of Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, May 31st. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $74.58.

Ambarella Price Performance

The company has a market cap of $2.13 billion, a P/E ratio of -12.22 and a beta of 1.63. The company’s 50-day moving average price is $53.18 and its 200-day moving average price is $51.72.

Ambarella (NASDAQ:AMBA) last released its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. Ambarella had a negative net margin of 79.46% and a negative return on equity of 25.76%. The firm had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. During the same period last year, the firm earned ($0.76) EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts predict that Ambarella, Inc. will post -2.99 EPS for the current year.

Institutional Investors Weigh In On Ambarella

Institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in Ambarella during the second quarter worth about $26,000. CWM LLC raised its stake in shares of Ambarella by 127.7% during the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 304 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Ambarella by 62.1% in the second quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock worth $78,000 after buying an additional 552 shares during the period. Larson Financial Group LLC boosted its holdings in Ambarella by 13,576.9% in the first quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 1,765 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Ambarella by 22.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,275 shares of the semiconductor company’s stock valued at $177,000 after buying an additional 590 shares in the last quarter. 82.09% of the stock is owned by 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.