Ambiq Micro (NYSE:AMBQ) Shares Up 6.6% – Here’s Why

Ambiq Micro, Inc. (NYSE:AMBQ)’s stock price was up 6.6% on Wednesday . The stock traded as high as $79.88 and last traded at $80.4740. Approximately 25,479 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 508,264 shares. The stock had previously closed at $75.48.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMBQ. UBS Group boosted their price objective on Ambiq Micro from $43.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Zacks Research raised shares of Ambiq Micro from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ambiq Micro in a research report on Monday, June 29th. Needham & Company LLC boosted 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 began coverage on shares of Ambiq Micro in a report on Tuesday, April 21st. They issued an “outperform” rating and a $44.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ambiq Micro presently has a consensus rating of “Hold” and a consensus target price of $52.80.

Ambiq Micro Price Performance

The firm has a market cap of $1.72 billion and a PE ratio of -3.87. The company has a 50 day simple moving average of $72.94 and a 200-day simple moving average of $45.22.

Insider Transactions at Ambiq Micro

In related news, COO Sean Chihhsiang Chen sold 55,685 shares of Ambiq Micro stock in a transaction on Friday, May 15th. The shares were sold at an average price of $70.89, for a total value of $3,947,509.65. Following the transaction, the chief operating officer owned 120,275 shares in the company, valued at $8,526,294.75. This trade represents a 31.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Scott Mclean Hanson sold 10,200 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $69.24, for a total transaction of $706,248.00. Following the sale, the chief technology officer owned 203,126 shares of the company’s stock, valued at approximately $14,064,444.24. The trade was a 4.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 222,477 shares of company stock worth $16,304,893.

Institutional Investors Weigh In On Ambiq Micro

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fortress Investment Group LLC purchased a new position in Ambiq Micro in the 3rd quarter worth approximately $4,488,000. Atreides Management LP purchased a new stake in shares of Ambiq Micro during the third quarter valued at approximately $20,474,000. KADENSA CAPITAL Ltd bought a new position in shares of Ambiq Micro in the third quarter worth approximately $11,818,000. First Eagle Investment Management LLC grew its holdings in shares of Ambiq Micro by 222.1% in the fourth quarter. First Eagle Investment Management LLC now owns 189,723 shares of the company’s stock worth $5,407,000 after purchasing an additional 130,823 shares during the last quarter. Finally, Ghisallo Capital Management LLC purchased a new position in shares of Ambiq Micro in the third quarter worth $598,000.

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.