Chan W. Lee Sells 1,000 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee sold 1,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $73.48, for a total transaction of $73,480.00. Following the completion of the transaction, the chief operating officer now owns 114,918 shares in the company, valued at approximately $8,444,174.64. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Ambarella Price Performance

Shares of NASDAQ AMBA opened at $76.20 on Friday. The company has a 50-day moving average price of $68.49 and a 200-day moving average price of $59.33. The stock has a market capitalization of $3.18 billion, a P/E ratio of -19.74 and a beta of 1.66. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $81.32.

Analyst Upgrades and Downgrades

AMBA has been the topic of a number of recent analyst reports. Bank of America raised Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research note on Monday, December 16th. Craig Hallum boosted their price target on Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Morgan Stanley increased their price target on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. StockNews.com lowered shares of Ambarella from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $100.00 target price on shares of Ambarella in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Ambarella presently has a consensus rating of “Moderate Buy” and an average target price of $84.17.

Hedge Funds Weigh In On Ambarella

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its holdings in shares of Ambarella by 1,556.9% in the second quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock valued at $27,353,000 after purchasing an additional 476,406 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Ambarella by 36.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after buying an additional 343,385 shares during the last quarter. Barclays PLC lifted its stake in Ambarella by 281.3% during the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock valued at $21,891,000 after acquiring an additional 286,296 shares in the last quarter. Marshall Wace LLP boosted its holdings in Ambarella by 69.2% during the 2nd quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after acquiring an additional 250,778 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Ambarella by 230.1% in the 2nd quarter. Acadian Asset Management LLC now owns 172,444 shares of the semiconductor company’s stock worth $9,299,000 after acquiring an additional 120,204 shares in the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

Ambarella Company Profile

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.