Ambarella, Inc. (NASDAQ:AMBA) COO Sells $79,150.00 in Stock

Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee sold 1,000 shares of Ambarella stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $79.15, for a total value of $79,150.00. Following the completion of the sale, the chief operating officer now owns 116,918 shares in the company, valued at approximately $9,254,059.70. This represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Ambarella Stock Up 2.5 %

AMBA traded up $1.88 during midday trading on Wednesday, hitting $76.20. 927,164 shares of the company traded hands, compared to its average volume of 914,985. The company’s 50-day moving average is $67.75 and its 200 day moving average is $59.09. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $81.32. The firm has a market capitalization of $3.18 billion, a PE ratio of -19.74 and a beta of 1.66.

Analyst Ratings Changes

Several brokerages have commented on AMBA. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price objective on shares of Ambarella in a report on Friday, December 6th. Bank of America upgraded shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a report on Monday, December 16th. Stifel Nicolaus upped their target price on Ambarella from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Northland Securities restated an “outperform” rating and set a $95.00 target price (up previously from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Finally, Needham & Company LLC increased their price target on shares of Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $84.17.

Institutional Investors Weigh In On Ambarella

A number of hedge funds have recently added to or reduced their stakes in AMBA. Point72 Asset Management L.P. grew its holdings in shares of Ambarella by 1,556.9% in the second quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock worth $27,353,000 after acquiring an additional 476,406 shares during the period. The Manufacturers Life Insurance Company grew its stake 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 valued at $69,698,000 after purchasing an additional 343,385 shares during the period. Barclays PLC increased its position in shares of Ambarella by 281.3% during the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock valued at $21,891,000 after purchasing an additional 286,296 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Ambarella by 69.2% in the second 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. Finally, Acadian Asset Management LLC increased its holdings in Ambarella by 230.1% during the second quarter. Acadian Asset Management LLC now owns 172,444 shares of the semiconductor company’s stock valued at $9,299,000 after buying an additional 120,204 shares during the last quarter. 82.09% of the stock is currently 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.