Ambarella, Inc. (NASDAQ:AMBA) Director Sells 253 Shares

Ambarella, Inc. (NASDAQ:AMBA) Director Elizabeth M. Schwarting sold 253 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $71.55, for a total transaction of $18,102.15. Following the completion of the transaction, the director now owns 7,902 shares of the company’s stock, valued at approximately $565,388.10. This trade represents a 3.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Ambarella Trading Up 3.3 %

AMBA stock traded up $2.29 during midday trading on Friday, hitting $70.93. 1,368,934 shares of the company’s stock were exchanged, compared to its average volume of 609,897. The stock has a market capitalization of $2.96 billion, a PE ratio of -18.38 and a beta of 1.68. Ambarella, Inc. has a 1-year low of $39.69 and a 1-year high of $81.32. The business has a 50-day simple moving average of $63.69 and a two-hundred day simple moving average of $57.48.

Analyst Upgrades and Downgrades

AMBA has been the subject of several research analyst reports. Bank of America raised Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a research note on Monday. Roth Mkm reissued a “neutral” rating and set a $60.00 target price on shares of Ambarella in a report on Wednesday, August 28th. Westpark Capital reaffirmed a “buy” rating and issued a $85.00 price target on shares of Ambarella in a research note on Monday, August 26th. Stifel Nicolaus raised their price objective on Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, TD Cowen upped 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 issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.17.

Institutional Trading of Ambarella

Several institutional investors have recently added to or reduced their stakes in AMBA. State Street Corp grew its stake in shares of Ambarella by 2.6% in the third quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock valued at $108,536,000 after buying an additional 47,856 shares in the last quarter. Millennium Management LLC grew its position in Ambarella by 7.0% in the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after acquiring an additional 94,257 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Ambarella by 4.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock worth $76,332,000 after purchasing an additional 61,387 shares during the period. Geode Capital Management LLC lifted its position in shares of Ambarella by 1.6% during the third quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock worth $51,719,000 after purchasing an additional 14,568 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Ambarella by 70.0% in the third quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock valued at $48,626,000 after purchasing an additional 355,078 shares during the period. Institutional investors and hedge funds own 82.09% of the company’s stock.

Ambarella Company Profile

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.