Insider Selling: Ambarella, Inc. (NASDAQ:AMBA) COO Sells $73,500.00 in Stock

Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee sold 1,000 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $73.50, for a total transaction of $73,500.00. Following the transaction, the chief operating officer now owns 112,918 shares in the company, valued at approximately $8,299,473. The trade was a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ambarella Trading Up 2.7 %

Shares of NASDAQ:AMBA opened at $78.18 on Friday. The company’s 50 day moving average is $70.19 and its two-hundred day moving average is $60.10. The company has a market cap of $3.26 billion, a PE ratio of -20.25 and a beta of 1.66. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $81.32.

Wall Street Analysts Forecast Growth

AMBA has been the topic of several recent analyst reports. Needham & Company LLC upped their target price on Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Craig Hallum upped their price target on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Rosenblatt Securities restated a “buy” rating and set a $100.00 price objective on shares of Ambarella in a research report on Friday, December 6th. Morgan Stanley lifted their target price 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. Finally, Susquehanna raised their price target on shares of Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Ambarella currently has a consensus rating of “Moderate Buy” and an average price target of $84.17.

Institutional Investors Weigh In On Ambarella

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