Chan Lee Sells 2,951 Shares of Ambarella (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) insider Chan Lee sold 2,951 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $67.87, for a total value of $200,284.37. Following the sale, the insider directly owned 157,098 shares of the company’s stock, valued at $10,662,241.26. The trade was a 1.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Ambarella Price Performance

NASDAQ:AMBA opened at $69.97 on Friday. The company’s 50 day moving average is $70.93 and its 200-day moving average is $66.70. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -43.46 and a beta of 2.15. Ambarella, Inc. has a 12 month low of $48.30 and a 12 month high of $96.69.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. The business had revenue of $100.36 million for the quarter, compared to analyst estimates of $100.12 million. Ambarella had a negative net margin of 17.18% and a negative return on equity of 10.94%. Ambarella’s revenue was up 16.9% compared to the same quarter last year. During the same period last year, the business posted $0.07 EPS. Research analysts predict that Ambarella, Inc. will post -1.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AMBA. Essential Partners LLC grew its position in Ambarella by 90.1% during the first quarter. Essential Partners LLC now owns 481 shares of the semiconductor company’s stock worth $25,000 after buying an additional 228 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Ambarella by 362.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 326 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Ambarella in the 1st quarter valued at approximately $30,000. Advisory Services Network LLC bought a new stake in shares of Ambarella in the 3rd quarter worth approximately $33,000. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Ambarella by 162.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 525 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 325 shares during the period. Institutional investors and hedge funds own 82.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on AMBA shares. Stifel Nicolaus set a $106.00 price objective on Ambarella in a research report on Friday, May 29th. Consumer Edge reaffirmed a “buy” rating on shares of Ambarella in a research report on Friday, May 22nd. Northland Securities set a $101.00 price target on Ambarella in a report on Wednesday. Bank of America upped their price target on Ambarella from $72.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Summit Insights cut Ambarella from a “buy” rating to a “hold” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ambarella has an average rating of “Moderate Buy” and an average price target of $100.50.

Ambarella Company Profile

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.