Insider Selling: Ambarella (NASDAQ:AMBA) VP Sells $660,943.36 in Stock

Ambarella, Inc. (NASDAQ:AMBA) VP Yun-Lung Chen sold 9,856 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $67.06, for a total transaction of $660,943.36. Following the transaction, the vice president owned 66,515 shares of the company’s stock, valued at approximately $4,460,495.90. This trade represents a 12.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ambarella Price Performance

NASDAQ AMBA opened at $69.97 on Friday. The company’s 50 day simple moving average is $70.60 and its 200 day simple moving average is $66.68. Ambarella, Inc. has a 12 month low of $48.30 and a 12 month high of $96.69. The company has a market capitalization of $3.07 billion, a P/E ratio of -43.46 and a beta of 2.15.

Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, May 28th. The semiconductor company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $100.36 million during the quarter, compared to analyst estimates of $100.12 million. Ambarella had a negative net margin of 17.18% and a negative return on equity of 10.94%. The business’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 earnings per share. On average, analysts anticipate that Ambarella, Inc. will post -1.13 earnings per share for the current year.

Institutional Investors Weigh In On Ambarella

Several hedge funds have recently made changes to their positions in AMBA. Essential Partners LLC grew its position in Ambarella by 90.1% during the 1st quarter. Essential Partners LLC now owns 481 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 228 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Ambarella by 362.2% in the second quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ambarella in the first quarter valued at $30,000. Advisory Services Network LLC acquired a new stake in shares of Ambarella in the third quarter worth $33,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Ambarella by 162.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 525 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Analyst Upgrades and Downgrades

AMBA has been the subject of several research reports. Northland Securities set a $101.00 price objective on Ambarella in a research note on Wednesday. Summit Insights cut Ambarella from a “buy” rating to a “hold” rating in a report on Friday, May 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 target price on shares of Ambarella in a research report on Tuesday, May 26th. Bank of America upped their target price on Ambarella from $72.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Finally, Stifel Nicolaus set a $106.00 price target on Ambarella in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ambarella presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.50.

Ambarella Company Profile

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.