Ambarella (NASDAQ:AMBA) VP Yun-Lung Chen Sells 5,958 Shares

Ambarella, Inc. (NASDAQ:AMBA) VP Yun-Lung Chen sold 5,958 shares of Ambarella stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $78.66, for a total value of $468,656.28. Following the transaction, the vice president directly owned 60,557 shares of the company’s stock, valued at $4,763,413.62. This trade represents a 8.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Yun-Lung Chen also recently made the following trade(s):

• On Friday, June 12th, Yun-Lung Chen sold 9,856 shares of Ambarella stock. The shares were sold at an average price of $67.06, for a total transaction of $660,943.36.

Ambarella Price Performance

AMBA traded down $1.08 during midday trading on Friday, reaching $77.30. 852,096 shares of the company’s stock were exchanged, compared to its average volume of 1,179,996. Ambarella, Inc. has a 1-year low of $48.30 and a 1-year high of $96.69. The stock has a market capitalization of $3.39 billion, a PE ratio of -48.01 and a beta of 2.11. The business’s 50-day moving average price is $74.95 and its 200 day moving average price is $66.63.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AMBA shares. Summit Insights cut Ambarella from a “buy” rating to a “hold” rating in a report on Friday, May 29th. Bank of America upped their price objective on Ambarella from $72.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Northland Securities set a $101.00 price objective on Ambarella in a research note on Wednesday, June 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ambarella in a research report on Friday, June 26th. Finally, Stifel Nicolaus set a $106.00 price objective on Ambarella in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $101.12.

Institutional Investors Weigh In On Ambarella

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Management Professionals Inc. purchased a new stake in shares of Ambarella in the second quarter valued at $32,000. Hennion & Walsh Asset Management Inc. lifted its position in Ambarella by 24.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,121 shares of the semiconductor company’s stock worth $954,000 after buying an additional 2,184 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Ambarella during the second quarter worth about $34,000. Red Spruce Capital LLC boosted its stake in Ambarella by 39.2% in the 2nd quarter. Red Spruce Capital LLC now owns 20,385 shares of the semiconductor company’s stock worth $1,749,000 after buying an additional 5,744 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in Ambarella in the 2nd quarter worth about $86,000. Hedge funds and other institutional investors own 82.09% of the company’s stock.

About Ambarella

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.