Ambarella (NASDAQ:AMBA) CFO Sells $127,562.88 in Stock

Ambarella, Inc. (NASDAQ:AMBA) CFO John Young sold 1,896 shares of the business’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $67.28, for a total value of $127,562.88. Following the completion of the transaction, the chief financial officer directly owned 107,806 shares of the company’s stock, valued at approximately $7,253,187.68. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Alexander Young also recently made the following trade(s):

• On Thursday, September 17th, John Young sold 3,126 shares of Ambarella stock. The stock was sold at an average price of $64.83, for a total transaction of $202,658.58.

Ambarella Stock Up 0.8%

AMBA stock opened at $67.62 on Thursday. The company’s 50-day moving average price is $71.63 and its two-hundred day moving average price is $68.37. The firm has a market cap of $2.98 billion, a P/E ratio of -52.42 and a beta of 2.09. Ambarella, Inc. has a 12 month low of $48.30 and a 12 month high of $96.69.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Thursday, September 3rd. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $108.12 million for the quarter, compared to analyst estimates of $107.76 million. Ambarella had a negative net margin of 13.48% and a negative return on equity of 10.03%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. Equities analysts predict that Ambarella, Inc. will post -1.12 EPS for the current year.

Wall Street Analyst Weigh In

AMBA has been the subject of a number of research analyst reports. Oppenheimer reissued a “market perform” rating on shares of Ambarella in a report on Friday, September 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $120.00 target price on shares of Ambarella in a research report on Wednesday, September 16th. Stifel Nicolaus lowered their target price on Ambarella from $106.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, September 4th. Susquehanna boosted their target price on Ambarella from $80.00 to $110.00 and gave the stock a “positive” rating in a research note on Friday, May 29th. Finally, Summit Insights cut shares of Ambarella from a “buy” rating to a “hold” rating in a report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $89.56.

Institutional Investors Weigh In On Ambarella

Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its stake in shares of Ambarella by 18.4% during the fourth 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. The Manufacturers Life Insurance Company grew its stake in shares of Ambarella by 49.5% in the first quarter. The Manufacturers Life Insurance Company now owns 1,586,082 shares of the semiconductor company’s stock worth $81,644,000 after purchasing an additional 524,937 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Ambarella in the fourth quarter worth $1,345,000. Bank of America Corp DE increased its holdings in Ambarella by 7.8% in the first quarter. Bank of America Corp DE now owns 481,758 shares of the semiconductor company’s stock valued at $24,798,000 after purchasing an additional 34,843 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Ambarella by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 1,020,527 shares of the semiconductor company’s stock valued at $72,305,000 after purchasing an additional 35,510 shares during the period. 82.09% of the stock is currently owned by institutional investors and hedge funds.

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.