Yun-Lung Chen Sells 9,856 Shares of Ambarella (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) VP Yun-Lung Chen sold 9,856 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $67.06, for a total transaction of $660,943.36. Following the completion of the sale, the vice president directly owned 66,515 shares of the company’s stock, valued at approximately $4,460,495.90. This represents a 12.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ambarella Price Performance

Shares of Ambarella stock opened at $65.88 on Thursday. The firm has a market cap of $2.89 billion, a P/E ratio of -40.92 and a beta of 2.15. The firm has a 50 day simple moving average of $70.22 and a 200 day simple moving average of $66.71. Ambarella, Inc. has a fifty-two week low of $48.30 and a fifty-two week high of $96.69.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. The business had revenue of $100.36 million during 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 for the quarter was up 16.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share. On average, sell-side analysts expect that Ambarella, Inc. will post -1.13 EPS for the current year.

Analyst Ratings Changes

AMBA has been the subject of a number of research reports. Stifel Nicolaus set a $106.00 price target on shares of Ambarella in a report on Friday, May 29th. Rosenblatt Securities reissued a “buy” rating and issued a $115.00 price target on shares of Ambarella in a report on Tuesday, May 26th. Summit Insights lowered shares of Ambarella from a “buy” rating to a “hold” rating in a report on Friday, May 29th. Consumer Edge reaffirmed a “buy” rating on shares of Ambarella in a report on Friday, May 22nd. Finally, Northland Securities set a $101.00 target price on shares of Ambarella in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.50.

Hedge Funds Weigh In On Ambarella

A number of hedge funds and other institutional investors have recently made changes to their positions in AMBA. Essential Partners LLC boosted its position in shares of 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 purchasing an additional 228 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position 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 worth $30,000. Advisory Services Network LLC acquired a new position in Ambarella in the 3rd quarter worth $33,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in 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 purchasing an additional 325 shares during the period. 82.09% of the stock is owned by institutional investors.

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.