Chan Lee Sells 2,893 Shares of Ambarella (NASDAQ:AMBA) Stock

by · The Cerbat Gem

Ambarella, Inc. (NASDAQ:AMBA – Get Free Report) insider Chan Lee sold 2,893 shares of the company’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $64.83, for a total transaction of $187,553.19. Following the sale, the insider directly owned 154,443 shares in the company, valued at $10,012,539.69. This trade represents a 1.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Ambarella Stock Down 1.1%

Ambarella stock traded down $0.76 during trading hours on Friday, reaching $66.15. 1,435,160 shares of the company’s stock were exchanged, compared to its average volume of 1,339,284. The firm’s 50 day simple moving average is $72.06 and its 200 day simple moving average is $68.09. Ambarella, Inc. has a twelve month low of $48.30 and a twelve month high of $96.69. The firm has a market capitalization of $2.92 billion, a PE ratio of -51.28 and a beta of 2.09.

Ambarella (NASDAQ:AMBA – Get Free Report) last announced its quarterly earnings data on Thursday, September 3rd. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Ambarella had a negative return on equity of 10.03% and a negative net margin of 13.48%.The company had revenue of $108.12 million for the quarter, compared to the consensus estimate of $107.76 million. During the same period in the previous year, the business earned $0.15 EPS. The firm’s revenue was up 13.2% compared to the same quarter last year. Analysts anticipate that Ambarella, Inc. will post -1.11 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating on shares of Ambarella in a research report on Friday, September 4th. Roth Capital cut their target price on shares of Ambarella from $90.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, September 4th. Rosenblatt Securities restated a “buy” rating and issued a $120.00 price target on shares of Ambarella in a report on Wednesday. Weiss Ratings raised shares of Ambarella from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 10th. Finally, Bank of America dropped their price objective on shares of Ambarella from $96.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, September 4th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $89.56.

View Our Latest Research Report on AMBA

Hedge Funds Weigh In On Ambarella

A number of institutional investors have recently modified their holdings of AMBA. The Manufacturers Life Insurance Company lifted its holdings in Ambarella by 49.5% during 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 acquiring an additional 524,937 shares during the period. Jericho Capital Asset Management L.P. grew its stake in Ambarella by 30.8% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 1,587,081 shares of the semiconductor company’s stock valued at $112,429,000 after purchasing an additional 373,734 shares during the period. Hawk Ridge Capital Management LP purchased a new stake in shares of Ambarella during the 1st quarter valued at $14,212,000. Renaissance Technologies LLC purchased a new stake in shares of Ambarella during the 1st quarter valued at $10,264,000. Finally, Handelsbanken Fonder AB raised its stake in shares of Ambarella by 84.0% during the 4th quarter. Handelsbanken Fonder AB now owns 312,326 shares of the semiconductor company’s stock worth $22,125,000 after purchasing an additional 142,551 shares during the period. 82.09% of the stock is owned by institutional investors and hedge funds.

Ambarella Company Profile

(Get Free Report)

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.

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