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 business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $74.12, for a total transaction of $74,120.00. Following the completion of the sale, the chief operating officer now owns 113,918 shares in the company, valued at approximately $8,443,602.16. The trade was a 0.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Ambarella Stock Down 0.8 %

NASDAQ:AMBA traded down $0.63 during mid-day trading on Tuesday, hitting $73.90. 581,207 shares of the stock traded hands, compared to its average volume of 799,026. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of -19.15 and a beta of 1.66. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $81.32. The firm’s 50 day moving average is $69.20 and its two-hundred day moving average is $59.72.

Wall Street Analysts Forecast Growth

AMBA has been the topic of several research analyst reports. Susquehanna boosted their price target on shares of Ambarella from $70.00 to $85.00 and gave the stock a “positive” rating in a research note on Wednesday, November 27th. StockNews.com cut shares of Ambarella from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Northland Securities reiterated an “outperform” rating and issued a $95.00 price target (up previously from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of Ambarella in a research report on Friday, December 6th. Finally, Needham & Company LLC upped their target price on shares of Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.17.

Hedge Funds Weigh In On Ambarella

Hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in Ambarella during the 2nd quarter valued at about $26,000. Blue Trust Inc. grew its stake in Ambarella by 180.3% in 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 in the last quarter. Signaturefd LLC grew its stake in Ambarella by 389.6% in the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 526 shares in the last quarter. Larson Financial Group LLC grew its stake in Ambarella by 6,014.3% in the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 842 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in Ambarella in the 3rd quarter worth about $69,000. 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.