Ambarella (NASDAQ:AMBA) VP Sells $660,943.36 in Stock

Ambarella, Inc. (NASDAQ:AMBA) VP Yun-Lung Chen sold 9,856 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $67.06, for a total value of $660,943.36. Following the transaction, the vice president owned 66,515 shares of the company’s stock, valued at approximately $4,460,495.90. This trade represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Ambarella Stock Down 4.3%

Shares of Ambarella stock traded down $3.00 on Tuesday, hitting $67.14. 899,409 shares of the company’s stock traded hands, compared to its average volume of 1,068,966. The stock has a market cap of $2.95 billion, a P/E ratio of -41.70 and a beta of 2.15. The firm’s 50-day moving average is $69.59 and its 200 day moving average is $66.82. Ambarella, Inc. has a 52-week low of $48.30 and a 52-week high of $96.69.

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

Institutional Investors Weigh In On Ambarella

Large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new stake in Ambarella in the third quarter worth $33,000. EverSource Wealth Advisors LLC increased its position in Ambarella by 362.2% in the second quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock worth $27,000 after buying an additional 326 shares during the period. Essential Partners LLC increased its position in Ambarella by 90.1% in 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 during the period. Steward Partners Investment Advisory LLC increased its position in Ambarella by 162.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 525 shares of the semiconductor company’s stock worth $37,000 after buying an additional 325 shares during the period. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in Ambarella in the first quarter worth $30,000. 82.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMBA has been the topic of several research reports. Stifel Nicolaus set a $106.00 price target on Ambarella in a research report on Friday, May 29th. Susquehanna upped their price target on Ambarella from $80.00 to $110.00 and gave the company a “positive” rating in a research report on Friday, May 29th. Rosenblatt Securities reissued a “buy” rating and set a $115.00 price target on shares of Ambarella in a research report on Tuesday, May 26th. Summit Insights lowered Ambarella from a “buy” rating to a “hold” rating in a research report on Friday, May 29th. Finally, Consumer Edge reissued a “buy” rating on shares of Ambarella in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.75.

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.