Ambarella (NASDAQ:AMBA) Trading Down 0.5% After Insider Selling

Ambarella, Inc. (NASDAQ:AMBA) shares traded down 0.5% on Thursday following insider selling activity. The stock traded as low as $54.17 and last traded at $54.80. 111,510 shares changed hands during trading, a decline of 82% from the average session volume of 624,980 shares. The stock had previously closed at $55.06.

Specifically, VP Yun-Lung Chen sold 5,963 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the transaction, the vice president now directly owns 62,026 shares of the company’s stock, valued at approximately $3,570,216.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Analysts Set New Price Targets

Several brokerages have recently commented on AMBA. Roth Mkm restated a “neutral” rating and set a $60.00 price target on shares of Ambarella in a research note on Wednesday, August 28th. Westpark Capital reissued a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. Morgan Stanley boosted their price target on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price objective on shares of Ambarella in a report on Friday, August 23rd. Finally, Craig Hallum boosted their target price on Ambarella from $80.00 to $85.00 and gave the stock a “buy” 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 eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $74.58.

Ambarella Stock Performance

The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -12.22 and a beta of 1.63. The firm’s 50-day moving average price is $53.18 and its two-hundred day moving average price is $51.72.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. Ambarella had a negative return on equity of 25.76% and a negative net margin of 79.46%. The business had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. During the same quarter last year, the company earned ($0.76) EPS. Ambarella’s revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts anticipate that Ambarella, Inc. will post -2.99 EPS for the current year.

Hedge Funds Weigh In On Ambarella

Large investors have recently modified their holdings of the stock. Kodai Capital Management LP acquired a new position in shares of Ambarella during the fourth quarter valued at $65,543,000. Point72 Asset Management L.P. lifted its position in Ambarella by 1,556.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock valued at $27,353,000 after purchasing an additional 476,406 shares during the period. Norges Bank acquired a new position in Ambarella during the 4th quarter valued at about $23,495,000. The Manufacturers Life Insurance Company boosted its stake in shares of Ambarella by 36.2% in the 2nd 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 last quarter. Finally, Marshall Wace LLP grew its position in shares of Ambarella by 69.2% during the 2nd quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after buying an additional 250,778 shares during the period. 82.09% of the stock is currently owned by institutional investors and hedge funds.

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.