Feng-Ming Wang Sells 6,086 Shares of Ambarella (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) CEO Feng-Ming Wang sold 6,086 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $64.83, for a total transaction of $394,555.38. Following the completion of the sale, the chief executive officer directly owned 767,759 shares of the company’s stock, valued at approximately $49,773,815.97. This trade represents a 0.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Feng-Ming Wang also recently made the following trade(s):

• On Wednesday, July 1st, Feng-Ming Wang sold 16,250 shares of Ambarella stock. The shares were sold at an average price of $90.08, for a total transaction of $1,463,800.00.

Ambarella Trading Down 1.1%

Ambarella stock traded down $0.76 during mid-day trading on Friday, hitting $66.15. The stock had a trading volume of 1,435,160 shares, compared to its average volume of 1,339,284. The firm has a market capitalization of $2.92 billion, a P/E ratio of -51.28 and a beta of 2.09. The firm’s 50 day moving average is $72.06 and its 200 day moving average is $68.09. Ambarella, Inc. has a one year low of $48.30 and a one year high of $96.69.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Thursday, September 3rd. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $108.12 million during the quarter, compared to analyst estimates of $107.76 million. Ambarella had a negative return on equity of 10.03% and a negative net margin of 13.48%.Ambarella’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 EPS. As a group, equities research analysts forecast that Ambarella, Inc. will post -1.11 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on AMBA shares. Needham & Company LLC reiterated a “buy” rating on shares of Ambarella in a research report on Friday, September 4th. Weiss Ratings raised Ambarella from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 10th. Northland Securities set a $101.00 price target on Ambarella in a research note on Wednesday, June 17th. Consumer Edge reaffirmed a “buy” rating on shares of Ambarella in a report on Friday, May 22nd. Finally, Susquehanna increased their price objective on shares of Ambarella from $80.00 to $110.00 and gave the company a “positive” rating in a report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ambarella currently has a consensus rating of “Hold” and a consensus target price of $89.56.

Institutional Investors Weigh In On Ambarella

A number of hedge funds have recently made changes to their positions in the company. Jericho Capital Asset Management L.P. grew its holdings in Ambarella by 30.8% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 1,587,081 shares of the semiconductor company’s stock valued at $112,429,000 after buying an additional 373,734 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Ambarella by 49.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,586,082 shares of the semiconductor company’s stock worth $81,644,000 after acquiring an additional 524,937 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Ambarella by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 1,020,527 shares of the semiconductor company’s stock worth $72,305,000 after acquiring an additional 35,510 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ambarella by 28.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 638,587 shares of the semiconductor company’s stock worth $32,866,000 after acquiring an additional 139,928 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Ambarella by 18.4% during the 4th quarter. Legal & General Group Plc now owns 614,017 shares of the semiconductor company’s stock valued at $43,497,000 after acquiring an additional 95,218 shares during the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

About Ambarella

Ambarella, Inc is a fabless semiconductor company that develops low-power system-on-chip (SoC) solutions for video processing and artificial intelligence at the edge. Its technology is designed to help devices capture, process, analyze and transmit high-quality video while reducing the need to send data to cloud-based systems.

The company’s product portfolio includes its CVflow family of AI vision processors, video processors and related software. These solutions support computer vision and machine learning applications in security cameras, automotive systems, advanced driver-assistance systems, robotics, industrial equipment and consumer devices.

Founded in 2004 and headquartered in Santa Clara, California, Ambarella serves customers and markets globally through its semiconductor products and technology partnerships.