Insider Selling: Ambarella, Inc. (NASDAQ:AMBA) Director Sells 913 Shares of Stock

Ambarella, Inc. (NASDAQ:AMBA) Director Elizabeth M. Schwarting sold 913 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $54.74, for a total transaction of $49,977.62. Following the transaction, the director now directly owns 8,155 shares in the company, valued at approximately $446,404.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Ambarella Stock Up 5.9 %

Shares of Ambarella stock opened at $57.08 on Friday. Ambarella, Inc. has a 12-month low of $39.69 and a 12-month high of $65.88. The firm has a market capitalization of $2.34 billion, a PE ratio of -13.40 and a beta of 1.63. The stock’s fifty day moving average is $51.51 and its 200-day moving average is $51.48.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. The firm had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.76) EPS. Analysts expect that Ambarella, Inc. will post -3 EPS for the current year.

Hedge Funds Weigh In On Ambarella

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Westpark Capital reiterated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a report on Monday, August 26th. Bank of America increased their price target on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Stifel Nicolaus boosted their price objective on Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Roth Mkm reaffirmed a “neutral” rating and set a $60.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price on shares of Ambarella in a report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.