Insider Selling: Ambarella, Inc. (NASDAQ:AMBA) COO Sells $79,150.00 in Stock

Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee sold 1,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $79.15, for a total value of $79,150.00. Following the sale, the chief operating officer now directly owns 116,918 shares in the company, valued at $9,254,059.70. This represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ambarella Stock Down 0.7 %

AMBA opened at $75.67 on Friday. The company has a market cap of $3.16 billion, a PE ratio of -19.60 and a beta of 1.66. Ambarella, Inc. has a twelve month low of $39.69 and a twelve month high of $81.32. The company has a 50-day moving average price of $68.85 and a 200 day moving average price of $59.48.

Wall Street Analysts Forecast Growth

AMBA has been the topic of a number of recent research reports. Needham & Company LLC upped their target price on Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Ambarella in a research note on Friday, December 6th. Stifel Nicolaus boosted their target price on shares of Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Susquehanna raised their price target on shares of Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research report on Wednesday, November 27th. Finally, Bank of America upgraded shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.17.

Institutional Investors Weigh In On Ambarella

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of Ambarella by 12.2% during the second quarter. Bank of New York Mellon Corp now owns 205,233 shares of the semiconductor company’s stock worth $11,072,000 after purchasing an additional 22,276 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Ambarella by 62.1% in the second quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 552 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Ambarella by 8.7% in the second quarter. Natixis Advisors LLC now owns 28,428 shares of the semiconductor company’s stock worth $1,534,000 after buying an additional 2,268 shares in the last quarter. Rhumbline Advisers boosted its position in Ambarella by 5.5% during the second quarter. Rhumbline Advisers now owns 60,780 shares of the semiconductor company’s stock worth $3,279,000 after acquiring an additional 3,177 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Ambarella by 4.6% during the 2nd quarter. Victory Capital Management Inc. now owns 81,213 shares of the semiconductor company’s stock valued at $4,381,000 after acquiring an additional 3,578 shares in the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

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.