Insider Selling: Ambarella, Inc. (NASDAQ:AMBA) CTO Sells $86,092.32 in Stock

by · The Markets Daily

Ambarella, Inc. (NASDAQ:AMBA – Get Free Report) CTO Leslie Kohn sold 1,608 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $86,092.32. Following the transaction, the chief technology officer now owns 961,433 shares of the company’s stock, valued at $51,475,122.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Ambarella Trading Down 2.5 %

Shares of AMBA stock opened at $54.40 on Friday. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -12.77 and a beta of 1.63. Ambarella, Inc. has a 12-month low of $39.69 and a 12-month high of $65.88. The stock’s 50-day moving average price is $52.07 and its 200-day moving average price is $51.49.

Ambarella (NASDAQ:AMBA – Get Free Report) last released its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The business had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.76) EPS. As a group, research analysts predict that Ambarella, Inc. will post -2.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Ambarella

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Ambarella by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after buying an additional 248,297 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Ambarella by 7.0% in the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after acquiring an additional 94,257 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of 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 acquiring an additional 343,385 shares during the last quarter. Kodai Capital Management LP purchased a new position in Ambarella in the fourth quarter worth about $65,543,000. Finally, Dimensional Fund Advisors LP increased its stake in Ambarella by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock worth $43,171,000 after acquiring an additional 29,379 shares during the last quarter. Institutional investors own 82.09% of the company’s stock.

Analysts Set New Price Targets

AMBA has been the subject of a number of recent analyst reports. Craig Hallum upped their price target on shares of Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. TD Cowen upped their target price on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Ambarella in a report on Wednesday, August 28th. Roth Mkm reaffirmed a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Finally, Westpark Capital reiterated a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $75.00.

View Our Latest Analysis on AMBA

Ambarella Company Profile

(Get Free Report)

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.

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