Insider Selling: Ambarella (NASDAQ:AMBA) Insider Sells $200,284.37 in Stock

Ambarella, Inc. (NASDAQ:AMBA) insider Chan Lee sold 2,951 shares of Ambarella stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $67.87, for a total transaction of $200,284.37. Following the sale, the insider owned 157,098 shares of the company’s stock, valued at approximately $10,662,241.26. This represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ambarella Price Performance

Shares of AMBA stock traded up $4.09 during trading hours on Thursday, hitting $69.97. The company had a trading volume of 2,098,555 shares, compared to its average volume of 1,076,372. The company’s fifty day moving average is $70.22 and its 200 day moving average is $66.71. Ambarella, Inc. has a fifty-two week low of $48.30 and a fifty-two week high of $96.69. The stock has a market capitalization of $3.07 billion, a PE ratio of -43.46 and a beta of 2.15.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. Ambarella had a negative net margin of 17.18% and a negative return on equity of 10.94%. The firm had revenue of $100.36 million during the quarter, compared to analysts’ expectations of $100.12 million. During the same quarter last year, the company posted $0.07 EPS. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. Equities analysts forecast that Ambarella, Inc. will post -1.13 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on AMBA. Rosenblatt Securities reissued a “buy” rating and set a $115.00 target price on shares of Ambarella in a research note on Tuesday, May 26th. Northland Securities set a $101.00 price target on shares of Ambarella in a report on Wednesday. Consumer Edge reissued a “buy” rating on shares of Ambarella in a research report on Friday, May 22nd. Susquehanna raised 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. Finally, Bank of America lifted their price objective on shares of Ambarella from $72.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Ambarella currently has an average rating of “Moderate Buy” and an average price target of $100.50.

Institutional Investors Weigh In On Ambarella

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in Ambarella by 2.1% during the first quarter. Royal Bank of Canada now owns 64,744 shares of the semiconductor company’s stock worth $3,258,000 after purchasing an additional 1,307 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Ambarella by 44.1% in the first quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 286 shares during the last quarter. AQR Capital Management LLC increased its stake in Ambarella by 126.6% in the first quarter. AQR Capital Management LLC now owns 84,871 shares of the semiconductor company’s stock valued at $4,272,000 after purchasing an additional 47,414 shares during the last quarter. Empowered Funds LLC raised its holdings in Ambarella by 34.6% during the first quarter. Empowered Funds LLC now owns 6,838 shares of the semiconductor company’s stock worth $344,000 after purchasing an additional 1,758 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in Ambarella by 48.1% during the first quarter. Intech Investment Management LLC now owns 25,586 shares of the semiconductor company’s stock worth $1,288,000 after purchasing an additional 8,306 shares in the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

About Ambarella

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.