Chan W. Lee Sells 1,488 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee sold 1,488 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $75.41, for a total transaction of $112,210.08. Following the transaction, the chief operating officer now directly owns 119,918 shares of the company’s stock, valued at approximately $9,043,016.38. This trade represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Ambarella Stock Performance

Shares of NASDAQ:AMBA traded down $4.08 during midday trading on Wednesday, reaching $69.75. 577,306 shares of the company’s stock traded hands, compared to its average volume of 607,316. Ambarella, Inc. has a one year low of $39.69 and a one year high of $81.32. The company has a market cap of $2.91 billion, a price-to-earnings ratio of -18.07 and a beta of 1.68. The stock has a 50 day moving average of $63.28 and a 200 day moving average of $57.31.

Wall Street Analyst Weigh In

A number of research firms have commented on AMBA. TD Cowen upped their price target on Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Westpark Capital restated a “buy” rating and set a $85.00 target price on shares of Ambarella in a report on Monday, August 26th. Northland Securities reissued an “outperform” rating and set a $95.00 price objective (up from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Susquehanna lifted their target price on shares of Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Wednesday, November 27th. Finally, Roth Mkm reissued a “neutral” rating and issued a $60.00 price target on shares of Ambarella in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.17.

Institutional Trading of Ambarella

Hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in Ambarella in the second quarter worth approximately $26,000. Blue Trust Inc. increased its stake in shares of Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 321 shares in the last quarter. CWM LLC increased its stake in shares of Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 304 shares in the last quarter. Signaturefd LLC raised its holdings in Ambarella by 389.6% in the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 526 shares during the period. Finally, Larson Financial Group LLC grew its holdings in Ambarella by 6,014.3% during the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 842 shares during the period. Hedge funds and other institutional investors own 82.09% of the company’s stock.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.