Ambarella (NASDAQ:AMBA) Stock Price Down 2.7% on Insider Selling

Ambarella, Inc. (NASDAQ:AMBA)’s stock price was down 2.7% on Friday after an insider sold shares in the company. The stock traded as low as $54.09 and last traded at $54.26. Approximately 129,973 shares were traded during trading, a decline of 79% from the average daily volume of 619,652 shares. The stock had previously closed at $55.77.

Specifically, CEO Feng-Ming Wang sold 4,301 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Leslie Kohn sold 1,608 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $86,092.32. Following the transaction, the chief technology officer now owns 961,433 shares of the company’s stock, valued at $51,475,122.82. The disclosure for this sale can be found here. In other Ambarella news, COO Chan W. Lee sold 1,490 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $79,774.60. Following the sale, the chief operating officer now directly owns 121,406 shares of the company’s stock, valued at approximately $6,500,077.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMBA. Craig Hallum upped their target price on Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Roth Mkm restated a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Morgan Stanley lifted their target price on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Ambarella in a report on Wednesday, August 28th. Finally, Bank of America raised their price target on shares of Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Ambarella presently has an average rating of “Hold” and a consensus price target of $75.00.

Ambarella Stock Down 2.5 %

The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -12.77 and a beta of 1.63. The company’s 50-day moving average price is $52.07 and its 200-day moving average price is $51.49.

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

Institutional Investors Weigh In On Ambarella

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Ambarella in the second quarter worth about $3,604,000. Northwestern Mutual Wealth Management Co. lifted its stake in Ambarella by 22.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,275 shares of the semiconductor company’s stock worth $177,000 after purchasing an additional 590 shares in the last quarter. Creative Planning acquired a new position in shares of Ambarella during the 2nd quarter worth approximately $325,000. Cim Investment Management Inc. acquired a new position in shares of Ambarella during the 2nd quarter worth approximately $239,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Ambarella by 36.2% in 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 in the last quarter. 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.