Ambiq Micro (NYSE:AMBQ) Trading Down 10.9% – What’s Next?

Ambiq Micro, Inc. (NYSE:AMBQ)’s share price dropped 10.9% during trading on Thursday . The stock traded as low as $73.75 and last traded at $73.2760. 365,357 shares traded hands during trading, a decline of 28% from the average session volume of 509,264 shares. The stock had previously closed at $82.22.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMBQ. Roth Capital began coverage on Ambiq Micro in a research report on Monday. They issued a “buy” rating and a $125.00 price target on the stock. UBS Group boosted their target price on shares of Ambiq Micro from $43.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Northland Securities set a $86.00 target price on shares of Ambiq Micro in a report on Wednesday, July 8th. Needham & Company LLC increased their target price on shares of Ambiq Micro from $48.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Zacks Research raised shares of Ambiq Micro from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $71.83.

Ambiq Micro Stock Performance

The company has a 50-day simple moving average of $79.80 and a 200-day simple moving average of $47.95. The stock has a market cap of $1.55 billion and a P/E ratio of -3.50.

Insider Buying and Selling

In related news, CFO Jeffrey G. Winzeler sold 26,000 shares of Ambiq Micro stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $69.90, for a total value of $1,817,400.00. Following the completion of the transaction, the chief financial officer directly owned 94,395 shares of the company’s stock, valued at $6,598,210.50. The trade was a 21.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy Chen sold 70,592 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $79.79, for a total transaction of $5,632,535.68. The SEC filing for this sale provides additional information. Insiders sold a total of 222,477 shares of company stock valued at $16,304,893 in the last 90 days. 10.00% of the stock is owned by corporate insiders.

Institutional Trading of Ambiq Micro

Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its holdings in Ambiq Micro by 244.6% during the 1st quarter. California State Teachers Retirement System now owns 989 shares of the company’s stock worth $25,000 after buying an additional 702 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Ambiq Micro during the third quarter worth $28,000. New York State Common Retirement Fund acquired a new position in shares of Ambiq Micro during the fourth quarter valued at $48,000. JPMorgan Chase & Co. bought a new position in Ambiq Micro in the third quarter valued at about $56,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Ambiq Micro in the third quarter valued at about $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.