Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee Sells 1,488 Shares

Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee sold 1,488 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $75.41, for a total transaction of $112,210.08. Following the completion of the sale, the chief operating officer now directly owns 119,918 shares of the company’s stock, valued at approximately $9,043,016.38. This trade represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Ambarella Price Performance

Shares of Ambarella stock traded down $4.08 on Wednesday, reaching $69.75. The company had a trading volume of 577,306 shares, compared to its average volume of 607,316. The firm’s 50-day moving average price is $63.28 and its two-hundred day moving average price is $57.31. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $81.32. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -18.07 and a beta of 1.68.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AMBA shares. Stifel Nicolaus increased their price target on Ambarella from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. StockNews.com downgraded Ambarella from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Susquehanna lifted their price objective on shares of Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research report on Wednesday, November 27th. Northland Securities reissued an “outperform” rating and issued a $95.00 target price (up previously from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Finally, Westpark Capital reaffirmed a “buy” rating and set a $85.00 target price on shares of Ambarella in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $84.17.

Institutional Trading of Ambarella

A number of institutional investors have recently bought and sold shares of the business. CWM LLC raised its position in shares of Ambarella by 127.7% during the 2nd 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. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Ambarella by 13.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,619 shares of the semiconductor company’s stock worth $627,000 after buying an additional 1,347 shares during the last quarter. Tributary Capital Management LLC raised its stake in Ambarella by 2.2% during the 2nd quarter. Tributary Capital Management LLC now owns 285,667 shares of the semiconductor company’s stock valued at $15,412,000 after acquiring an additional 6,020 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Ambarella by 12.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 205,233 shares of the semiconductor company’s stock worth $11,072,000 after acquiring an additional 22,276 shares during the period. Finally, Legato Capital Management LLC purchased a new position in shares of Ambarella in the 2nd quarter valued at approximately $790,000. 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.