Ambiq Micro (NYSE:AMBQ) Trading Down 8.7% – Here’s What Happened

Ambiq Micro, Inc. (NYSE:AMBQ)’s stock price traded down 8.7% on Friday . The company traded as low as $69.36 and last traded at $68.2710. Approximately 44,718 shares were traded during trading, a decline of 91% from the average daily volume of 501,731 shares. The stock had previously closed at $74.77.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AMBQ. Needham & Company LLC raised their price target on shares of Ambiq Micro from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Ambiq Micro in a report on Monday, June 29th. UBS Group raised their target price on shares of Ambiq Micro from $43.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Northland Securities set a $86.00 price target on shares of Ambiq Micro in a research report on Wednesday, July 8th. Finally, Zacks Research upgraded Ambiq Micro from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Ambiq Micro currently has an average rating of “Hold” and a consensus price target of $71.83.

Ambiq Micro Trading Down 5.3%

The company has a market cap of $1.51 billion and a P/E ratio of -3.41. The business has a 50 day moving average price of $80.76 and a 200-day moving average price of $49.41.

Insider Buying and Selling at Ambiq Micro

In other Ambiq Micro news, Director Timothy Chen sold 70,592 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $79.79, for a total transaction of $5,632,535.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Sean Chihhsiang Chen sold 55,685 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $70.89, for a total transaction of $3,947,509.65. Following the completion of the sale, the chief operating officer owned 120,275 shares of the company’s stock, valued at approximately $8,526,294.75. This represents a 31.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 222,477 shares of company stock valued at $16,304,893 in the last 90 days. Company insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Ambiq Micro

Several hedge funds have recently bought and sold shares of AMBQ. California State Teachers Retirement System grew its holdings in Ambiq Micro by 244.6% during the first quarter. California State Teachers Retirement System now owns 989 shares of the company’s stock worth $25,000 after purchasing an additional 702 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Ambiq Micro in the third quarter valued at approximately $28,000. New York State Common Retirement Fund acquired a new stake in shares of Ambiq Micro in the fourth quarter valued at approximately $48,000. JPMorgan Chase & Co. bought a new position in shares of Ambiq Micro during the 3rd quarter worth approximately $56,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Ambiq Micro during the 3rd quarter worth approximately $65,000.

About Ambiq Micro

Ambiq Micro (NYSE: AMBQ) is a semiconductor company specializing in the design and development of ultra-low-power microcontroller units (MCUs) and application-specific integrated circuits (ASICs). The company’s core technology leverages sub-threshold voltage operation to dramatically reduce energy consumption, enabling extended battery life in a broad range of portable and always-on devices. Ambiq’s products are particularly well suited for applications where power efficiency is critical, such as wearable electronics, IoT sensors, medical monitoring equipment, and industrial automation systems.

The company’s flagship product family, the Apollo series of MCUs, offers multi-core architectures, integrated wireless connectivity options, and advanced security features.