Ambarella, Inc. (NASDAQ:AMBA) CEO Feng-Ming Wang Sells 4,296 Shares of Stock

Ambarella, Inc. (NASDAQ:AMBA) CEO Feng-Ming Wang sold 4,296 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $75.41, for a total value of $323,961.36. Following the completion of the transaction, the chief executive officer now owns 755,231 shares of the company’s stock, valued at $56,951,969.71. The trade was a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ambarella Stock Performance

NASDAQ:AMBA opened at $69.75 on Thursday. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $81.32. The stock has a market cap of $2.91 billion, a P/E ratio of -18.07 and a beta of 1.68. The stock has a 50-day simple moving average of $63.49 and a 200-day simple moving average of $57.40.

Hedge Funds Weigh In On Ambarella

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC purchased a new stake in shares of Ambarella during the 3rd quarter worth approximately $3,905,000. Geode Capital Management LLC lifted its position in Ambarella by 1.6% in the third quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock valued at $51,719,000 after acquiring an additional 14,568 shares during the last quarter. Sender Co & Partners Inc. acquired a new position in Ambarella in the third quarter valued at $481,000. Barclays PLC grew its holdings in shares of Ambarella by 281.3% during the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after purchasing an additional 286,296 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Ambarella by 8.7% during the third quarter. Y Intercept Hong Kong Ltd now owns 12,573 shares of the semiconductor company’s stock worth $709,000 after purchasing an additional 1,002 shares in the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMBA has been the topic of several recent analyst reports. Bank of America upgraded shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a report on Monday. Roth Mkm reiterated a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a report on Wednesday, August 28th. Westpark Capital reaffirmed a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. Northland Securities reissued an “outperform” rating and issued a $95.00 price objective (up previously from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Finally, TD Cowen increased their target price on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.