Chan W. Lee Sells 1,000 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $73.48, for a total value of $73,480.00. Following the sale, the chief operating officer now directly owns 114,918 shares of the company’s stock, valued at $8,444,174.64. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Ambarella Price Performance

NASDAQ:AMBA opened at $76.20 on Friday. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $81.32. The stock’s fifty day moving average price is $68.49 and its two-hundred day moving average price is $59.33. The company has a market cap of $3.18 billion, a P/E ratio of -19.74 and a beta of 1.66.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMBA. Susquehanna raised their target price on Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research report on Wednesday, November 27th. Stifel Nicolaus lifted their price objective on shares of Ambarella from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Bank of America upgraded shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research note on Monday, December 16th. StockNews.com lowered shares of Ambarella from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Ambarella in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $84.17.

Institutional Trading of Ambarella

A number of hedge funds and other institutional investors have recently made changes to their positions in AMBA. Versor Investments LP boosted its stake in Ambarella by 5.9% in the 3rd quarter. Versor Investments LP now owns 4,619 shares of the semiconductor company’s stock worth $261,000 after purchasing an additional 256 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Ambarella by 6.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,767 shares of the semiconductor company’s stock valued at $269,000 after acquiring an additional 285 shares in the last quarter. Blue Trust Inc. increased its holdings in Ambarella by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 321 shares during the period. Arizona State Retirement System lifted its stake in Ambarella by 3.7% in the 2nd quarter. Arizona State Retirement System now owns 10,893 shares of the semiconductor company’s stock worth $588,000 after purchasing an additional 385 shares in the last quarter. Finally, Wrapmanager Inc. boosted its holdings in Ambarella by 9.3% in the 2nd quarter. Wrapmanager Inc. now owns 5,523 shares of the semiconductor company’s stock valued at $298,000 after purchasing an additional 470 shares during the period. 82.09% of the stock is currently owned by institutional investors.

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.