Summit Partners Public Asset Management LLC Acquires 30,000 Shares of Ambiq Micro, Inc. $AMBQ

Summit Partners Public Asset Management LLC increased its holdings in Ambiq Micro, Inc. (NYSE:AMBQ) by 32.1% in the 4th quarter, Holdings Channel reports. The fund owned 123,597 shares of the company’s stock after buying an additional 30,000 shares during the quarter. Summit Partners Public Asset Management LLC’s holdings in Ambiq Micro were worth $3,523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AMBQ. BNP Paribas Financial Markets bought a new stake in Ambiq Micro during the 3rd quarter valued at about $28,000. New York State Common Retirement Fund bought a new stake in Ambiq Micro during the 4th quarter valued at about $48,000. JPMorgan Chase & Co. bought a new stake in Ambiq Micro during the 3rd quarter valued at about $56,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Ambiq Micro during the 3rd quarter valued at about $65,000. Finally, Rhumbline Advisers bought a new stake in Ambiq Micro during the 3rd quarter valued at about $119,000.

Ambiq Micro Stock Down 4.3%

Shares of AMBQ stock opened at $81.83 on Wednesday. The company has a 50 day moving average price of $57.28 and a 200-day moving average price of $39.25. Ambiq Micro, Inc. has a 52 week low of $22.12 and a 52 week high of $89.33. The firm has a market capitalization of $1.75 billion and a PE ratio of -3.96.

Insider Buying and Selling

In related news, CEO Fumihide Esaka sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $70.02, for a total value of $4,201,200.00. Following the transaction, the chief executive officer owned 391,189 shares of the company’s stock, valued at approximately $27,391,053.78. This trade represents a 13.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Sean Chihhsiang Chen sold 55,685 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $70.89, for a total transaction of $3,947,509.65. Following the completion of the transaction, the chief operating officer directly owned 120,275 shares in the company, valued at approximately $8,526,294.75. The trade was a 31.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 223,288 shares of company stock valued at $16,326,101 in the last 90 days.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMBQ shares. Bank of America restated a “neutral” rating and set a $35.00 price objective on shares of Ambiq Micro in a research note on Thursday, March 5th. Wall Street Zen upgraded shares of Ambiq Micro from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. UBS Group lifted their price target on shares of Ambiq Micro from $43.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Needham & Company LLC lifted their price target on shares of Ambiq Micro from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Northland Securities assumed coverage on shares of Ambiq Micro in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $44.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Ambiq Micro presently has an average rating of “Hold” and an average price target of $52.80.

About Ambiq Micro

Ambiq Micro (NYSE: AMBQ) is a semiconductor company specializing in the design and development of ultra-low-power microcontroller units (MCUs) and application-specific integrated circuits (ASICs). The company’s core technology leverages sub-threshold voltage operation to dramatically reduce energy consumption, enabling extended battery life in a broad range of portable and always-on devices. Ambiq’s products are particularly well suited for applications where power efficiency is critical, such as wearable electronics, IoT sensors, medical monitoring equipment, and industrial automation systems.

The company’s flagship product family, the Apollo series of MCUs, offers multi-core architectures, integrated wireless connectivity options, and advanced security features.