Ambarella, Inc. (NASDAQ:AMBA) CTO Sells $86,092.32 in Stock

Ambarella, Inc. (NASDAQ:AMBA) CTO Leslie Kohn sold 1,608 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $86,092.32. Following the sale, the chief technology officer now owns 961,433 shares in the company, valued at approximately $51,475,122.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ambarella Price Performance

Shares of Ambarella stock opened at $54.40 on Friday. Ambarella, Inc. has a 1-year low of $39.69 and a 1-year high of $65.88. The company has a market capitalization of $2.23 billion, a P/E ratio of -12.77 and a beta of 1.63. The business’s fifty day moving average price is $52.07 and its two-hundred day moving average price is $51.52.

Ambarella (NASDAQ:AMBA) last posted 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 business had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.76) earnings per share. On average, research analysts expect that Ambarella, Inc. will post -2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ambarella

Several hedge funds have recently modified their holdings of AMBA. Meeder Asset Management Inc. acquired a new stake in shares of Ambarella in the second quarter valued at $26,000. CWM LLC raised its position in Ambarella by 127.7% in the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 304 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Ambarella by 62.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock valued at $78,000 after acquiring an additional 552 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Ambarella by 13,576.9% during the 1st quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock valued at $90,000 after purchasing an additional 1,765 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Ambarella by 22.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,275 shares of the semiconductor company’s stock worth $177,000 after purchasing an additional 590 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMBA has been the topic of several research reports. Roth Mkm reissued a “neutral” rating and set a $60.00 price target on shares of Ambarella in a research report on Wednesday, August 28th. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price target on shares of Ambarella in a research report on Friday, August 23rd. TD Cowen raised 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. Wells Fargo & Company lowered their target price on Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a report on Friday, May 31st. Finally, Bank of America raised their price target on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Ambarella has an average 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.