Insider Selling: Ambarella (NASDAQ:AMBA) CFO Sells $202,658.58 in Stock

Ambarella, Inc. (NASDAQ:AMBA) CFO John Young sold 3,126 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $64.83, for a total transaction of $202,658.58. Following the completion of the sale, the chief financial officer owned 109,702 shares of the company’s stock, valued at $7,111,980.66. This represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Ambarella Price Performance

Shares of AMBA stock traded down $0.76 during trading on Friday, reaching $66.15. The company had a trading volume of 1,435,160 shares, compared to its average volume of 1,339,284. Ambarella, Inc. has a one year low of $48.30 and a one year high of $96.69. The company has a market capitalization of $2.92 billion, a PE ratio of -51.28 and a beta of 2.09. The firm’s 50 day simple moving average is $72.06 and its two-hundred day simple moving average is $68.09.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Thursday, September 3rd. The semiconductor company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $108.12 million during the quarter, compared to analysts’ expectations of $107.76 million. Ambarella had a negative net margin of 13.48% and a negative return on equity of 10.03%. Ambarella’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 earnings per share. Analysts forecast that Ambarella, Inc. will post -1.11 earnings per share for the current year.

Analyst Ratings Changes

AMBA has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their target price on Ambarella from $106.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, September 4th. Weiss Ratings upgraded shares of Ambarella from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 10th. Bank of America dropped their target price on shares of Ambarella from $96.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, September 4th. Oppenheimer reiterated a “market perform” rating on shares of Ambarella in a research note on Friday, September 4th. Finally, Needham & Company LLC restated a “buy” rating on shares of Ambarella in a research report on Friday, September 4th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $89.56.

Hedge Funds Weigh In On Ambarella

Several large investors have recently added to or reduced their stakes in AMBA. WINTON GROUP Ltd grew its holdings in shares of Ambarella by 517.3% during the 2nd quarter. WINTON GROUP Ltd now owns 32,100 shares of the semiconductor company’s stock worth $2,754,000 after purchasing an additional 26,900 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Ambarella in the second quarter valued at $118,000. IFP Advisors Inc lifted its position in Ambarella by 70.4% in the second quarter. IFP Advisors Inc now owns 731 shares of the semiconductor company’s stock worth $63,000 after purchasing an additional 302 shares during the period. Arizona State Retirement System boosted its stake in Ambarella by 2.2% during the second quarter. Arizona State Retirement System now owns 11,479 shares of the semiconductor company’s stock worth $985,000 after buying an additional 246 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Ambarella during the second quarter worth $232,000. Institutional investors and hedge funds own 82.09% of the company’s stock.

Ambarella Company Profile

Ambarella, Inc is a fabless semiconductor company that develops low-power system-on-chip (SoC) solutions for video processing and artificial intelligence at the edge. Its technology is designed to help devices capture, process, analyze and transmit high-quality video while reducing the need to send data to cloud-based systems.

The company’s product portfolio includes its CVflow family of AI vision processors, video processors and related software. These solutions support computer vision and machine learning applications in security cameras, automotive systems, advanced driver-assistance systems, robotics, industrial equipment and consumer devices.

Founded in 2004 and headquartered in Santa Clara, California, Ambarella serves customers and markets globally through its semiconductor products and technology partnerships.