Hsiao-Wuen Hon Sells 377 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) Director Hsiao-Wuen Hon sold 377 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $74.15, for a total value of $27,954.55. Following the transaction, the director now owns 28,278 shares of the company’s stock, valued at $2,096,813.70. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ambarella Price Performance

Shares of AMBA opened at $73.83 on Wednesday. Ambarella, Inc. has a one year low of $39.69 and a one year high of $81.32. The company has a market cap of $3.08 billion, a PE ratio of -18.89 and a beta of 1.68. The stock has a 50-day moving average of $62.94 and a 200-day moving average of $57.20.

Wall Street Analyst Weigh In

AMBA has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their target price on shares of Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Rosenblatt Securities reissued a “buy” rating and set a $100.00 target price on shares of Ambarella in a research note on Friday, December 6th. Morgan Stanley upped their price target on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Bank of America upgraded Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a report on Monday. Finally, Roth Mkm reissued a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Ambarella by 2.6% during the third quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock valued at $108,536,000 after acquiring an additional 47,856 shares in the last quarter. Millennium Management LLC grew its position in Ambarella by 7.0% in the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after purchasing an additional 94,257 shares during the period. The Manufacturers Life Insurance Company increased its stake in Ambarella by 4.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock valued at $76,332,000 after purchasing an additional 61,387 shares in the last quarter. Geode Capital Management LLC raised its holdings in Ambarella by 1.6% during the third quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock worth $51,719,000 after buying an additional 14,568 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of Ambarella by 70.0% in the third quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock valued at $48,626,000 after buying an additional 355,078 shares in the last quarter. Institutional investors own 82.09% of the company’s stock.

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.