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

Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $73.48, for a total transaction of $73,480.00. Following the completion of the sale, the chief operating officer now owns 114,918 shares in the company, valued at approximately $8,444,174.64. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Ambarella Stock Performance

NASDAQ:AMBA traded up $1.88 during trading hours on Wednesday, reaching $76.20. The company’s stock had a trading volume of 927,164 shares, compared to its average volume of 914,985. The stock has a 50 day moving average price of $67.75 and a two-hundred day moving average price of $59.09. The company has a market capitalization of $3.18 billion, a P/E ratio of -19.74 and a beta of 1.66. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $81.32.

Institutional Investors Weigh In On Ambarella

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp raised its holdings in Ambarella by 2.6% in the third quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock worth $108,536,000 after purchasing an additional 47,856 shares in the last quarter. Millennium Management LLC grew its position in shares of Ambarella by 7.0% in the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock worth $78,091,000 after buying an additional 94,257 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Ambarella by 4.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock worth $76,332,000 after acquiring an additional 61,387 shares in the last quarter. Geode Capital Management LLC lifted its position in Ambarella by 1.6% during the third quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock valued at $51,719,000 after acquiring an additional 14,568 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in 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 acquiring an additional 355,078 shares in the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Northland Securities reissued an “outperform” rating and set a $95.00 target price (up previously from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Craig Hallum increased their target price on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Morgan Stanley upped their price target on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Needham & Company LLC raised their price objective on shares of Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Stifel Nicolaus upped their target price on Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.17.

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.