Insider Selling: Ambarella (NASDAQ:AMBA) VP Sells $468,656.28 in Stock

Ambarella, Inc. (NASDAQ:AMBA) VP Yun-Lung Chen sold 5,958 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $78.66, for a total transaction of $468,656.28. Following the completion of the sale, the vice president owned 60,557 shares of the company’s stock, valued at approximately $4,763,413.62. The trade was a 8.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Yun-Lung Chen also recently made the following trade(s):

• On Friday, June 12th, Yun-Lung Chen sold 9,856 shares of Ambarella stock. The shares were sold at an average price of $67.06, for a total transaction of $660,943.36.

Ambarella Price Performance

Shares of NASDAQ:AMBA opened at $77.30 on Monday. The stock has a market cap of $3.39 billion, a PE ratio of -48.01 and a beta of 2.11. The company’s fifty day moving average is $75.18 and its 200 day moving average is $66.67. Ambarella, Inc. has a 52 week low of $48.30 and a 52 week high of $96.69.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. Ambarella had a negative net margin of 17.18% and a negative return on equity of 10.94%. The business had revenue of $100.36 million during the quarter, compared to analyst estimates of $100.12 million. During the same period in the prior year, the business posted $0.07 earnings per share. The company’s revenue was up 16.9% on a year-over-year basis. Sell-side analysts anticipate that Ambarella, Inc. will post -1.13 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in Ambarella by 2.1% in the 1st quarter. Royal Bank of Canada now owns 64,744 shares of the semiconductor company’s stock worth $3,258,000 after buying an additional 1,307 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Ambarella by 44.1% during the first quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 286 shares during the period. AQR Capital Management LLC increased its stake in shares of Ambarella by 126.6% during the first quarter. AQR Capital Management LLC now owns 84,871 shares of the semiconductor company’s stock valued at $4,272,000 after buying an additional 47,414 shares during the period. Empowered Funds LLC raised its holdings in shares of Ambarella by 34.6% during the first quarter. Empowered Funds LLC now owns 6,838 shares of the semiconductor company’s stock valued at $344,000 after acquiring an additional 1,758 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of Ambarella by 48.1% during the first quarter. Intech Investment Management LLC now owns 25,586 shares of the semiconductor company’s stock valued at $1,288,000 after acquiring an additional 8,306 shares in the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMBA. Susquehanna raised their price target on Ambarella from $80.00 to $110.00 and gave the stock a “positive” rating in a research report on Friday, May 29th. Consumer Edge reiterated a “buy” rating on shares of Ambarella in a research report on Friday, May 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Ambarella in a research note on Friday, June 26th. Stifel Nicolaus set a $106.00 target price on shares of Ambarella in a report on Friday, May 29th. Finally, Rosenblatt Securities lifted their target price on shares of Ambarella from $115.00 to $120.00 in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.12.

Ambarella Company Profile

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.