Ambarella, Inc. (NASDAQ:AMBA) CFO Sells $114,522.06 in Stock

Ambarella, Inc. (NASDAQ:AMBA) CFO John Alexander Young sold 2,139 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $114,522.06. Following the completion of the sale, the chief financial officer now owns 103,529 shares in the company, valued at approximately $5,542,942.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Ambarella Stock Down 2.5 %

AMBA stock opened at $54.40 on Friday. The business has a fifty day moving average of $52.07 and a 200-day moving average of $51.49. The company has a market cap of $2.23 billion, a P/E ratio of -12.77 and a beta of 1.63. Ambarella, Inc. has a twelve month low of $39.69 and a twelve month high of $65.88.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. The firm had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.76) EPS. As a group, equities research analysts anticipate that Ambarella, Inc. will post -2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ambarella

Several large investors have recently bought and sold shares of the business. Kodai Capital Management LP acquired a new stake in Ambarella during the 4th quarter worth $65,543,000. Point72 Asset Management L.P. boosted its position in shares of Ambarella by 1,556.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock worth $27,353,000 after purchasing an additional 476,406 shares during the last quarter. Norges Bank acquired a new stake in shares of Ambarella during the fourth quarter worth $23,495,000. The Manufacturers Life Insurance Company increased its holdings in Ambarella by 36.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after purchasing an additional 343,385 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Ambarella by 69.2% in the second quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock valued at $33,090,000 after buying an additional 250,778 shares during the period. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. TD Cowen boosted their price target on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Wells Fargo & Company reduced their target price on Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, May 31st. Bank of America increased their price target on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Craig Hallum lifted their price objective on Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, Morgan Stanley increased their target price on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $75.00.

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.