Feng-Ming Wang Sells 4,301 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) CEO Feng-Ming Wang sold 4,301 shares of Ambarella stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $230,275.54. Following the sale, the chief executive officer now owns 799,527 shares in the company, valued at $42,806,675.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Feng-Ming Wang also recently made the following trade(s):

• On Wednesday, September 4th, Feng-Ming Wang sold 4,382 shares of Ambarella stock. The stock was sold at an average price of $56.02, for a total transaction of $245,479.64.

Ambarella Trading Down 2.5 %

Shares of NASDAQ AMBA 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 firm’s 50-day moving average is $52.07 and its 200-day moving average is $51.49. The firm has a market capitalization of $2.23 billion, a PE ratio of -12.77 and a beta of 1.63.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America upped their price objective on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Wells Fargo & Company dropped their price objective on Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a research note on Friday, May 31st. Craig Hallum boosted their target price on shares of Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Westpark Capital reiterated a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. Finally, 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. Two investment 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. According to data from MarketBeat.com, Ambarella presently has an average rating of “Hold” and a consensus target price of $75.00.

Hedge Funds Weigh In On Ambarella

Several hedge funds have recently added to or reduced their stakes in AMBA. Vanguard Group Inc. increased its stake in shares of Ambarella by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock valued at $220,384,000 after acquiring an additional 248,297 shares during the last quarter. Millennium Management LLC grew its holdings in Ambarella by 7.0% during the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after purchasing an additional 94,257 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Ambarella by 36.2% during 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 period. Kodai Capital Management LP bought a new stake in Ambarella in the fourth quarter valued at approximately $65,543,000. Finally, Dimensional Fund Advisors LP raised its holdings in Ambarella by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock worth $43,171,000 after purchasing an additional 29,379 shares during the period. Institutional investors and hedge funds own 82.09% of the company’s stock.

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.