Ambarella, Inc. (NASDAQ:AMBA) CEO Sells $230,275.54 in Stock

Ambarella, Inc. (NASDAQ:AMBA) CEO Feng-Ming Wang sold 4,301 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $230,275.54. Following the sale, the chief executive officer now owns 799,527 shares of the company’s stock, valued at $42,806,675.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Feng-Ming Wang also recently made the following trade(s):

• On Wednesday, September 4th, Feng-Ming Wang sold 4,382 shares of Ambarella stock. The shares were sold at an average price of $56.02, for a total transaction of $245,479.64.

Ambarella Trading Down 2.5 %

NASDAQ:AMBA opened at $54.40 on Friday. The firm has a market capitalization of $2.23 billion, a PE ratio of -12.77 and a beta of 1.63. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $65.88. The firm’s fifty day simple moving average is $52.07 and its 200 day simple moving average is $51.49.

Ambarella (NASDAQ:AMBA) last released its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. During the same quarter last year, the firm posted ($0.76) EPS. The company’s revenue was up 2.6% on a year-over-year basis. As a group, analysts anticipate that Ambarella, Inc. will post -2.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Ambarella

Institutional investors and hedge funds have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Ambarella in the 2nd quarter valued at $3,604,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Ambarella by 22.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,275 shares of the semiconductor company’s stock valued at $177,000 after buying an additional 590 shares during the period. Creative Planning acquired a new stake in Ambarella during the second quarter worth about $325,000. Cim Investment Management Inc. bought a new position in Ambarella during the second quarter valued at about $239,000. Finally, The Manufacturers Life Insurance Company raised its holdings in 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 acquiring an additional 343,385 shares in the last quarter. Institutional investors own 82.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AMBA shares. TD Cowen boosted their price target on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Wells Fargo & Company lowered their target price on Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, May 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Ambarella in a research note on Wednesday, August 28th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price target on shares of Ambarella in a research note on Friday, August 23rd. Finally, Bank of America increased their price objective on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $75.00.

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.