Ambarella, Inc. (NASDAQ:AMBA) COO Sells $74,120.00 in Stock

Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee sold 1,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $74.12, for a total value of $74,120.00. Following the sale, the chief operating officer now directly owns 113,918 shares in the company, valued at $8,443,602.16. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Ambarella Stock Up 2.7 %

Shares of Ambarella stock opened at $78.18 on Friday. The business has a 50 day moving average of $70.19 and a 200 day moving average of $60.10. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $81.32. The company has a market cap of $3.26 billion, a PE ratio of -20.25 and a beta of 1.66.

Institutional Trading of Ambarella

A number of hedge funds have recently made changes to their positions in AMBA. Versor Investments LP increased its holdings in shares of Ambarella by 5.9% in the 3rd quarter. Versor Investments LP now owns 4,619 shares of the semiconductor company’s stock worth $261,000 after purchasing an additional 256 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Ambarella by 6.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,767 shares of the semiconductor company’s stock valued at $269,000 after purchasing an additional 285 shares during the last quarter. Blue Trust Inc. lifted 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 during the period. Arizona State Retirement System lifted its stake in shares of Ambarella by 3.7% in the 2nd quarter. Arizona State Retirement System now owns 10,893 shares of the semiconductor company’s stock worth $588,000 after purchasing an additional 385 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in Ambarella during the second quarter valued at approximately $26,000. 82.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMBA. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price objective on shares of Ambarella in a research report on Friday, December 6th. Stifel Nicolaus boosted their price target on shares of Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Susquehanna lifted their price objective on Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Wednesday, November 27th. Craig Hallum upped their target price on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $95.00 price target (up previously from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Ambarella presently has an average rating of “Moderate Buy” and an average price target of $84.17.

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.