Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee Sells 1,468 Shares

Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee sold 1,468 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $80,769.36. Following the transaction, the chief operating officer now owns 130,297 shares of the company’s stock, valued at approximately $7,168,940.94. This trade represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Ambarella Price Performance

Shares of AMBA opened at $54.26 on Friday. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -14.06 and a beta of 1.78. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $85.15. The business’s 50 day simple moving average is $69.81 and its 200-day simple moving average is $65.35.

Wall Street Analysts Forecast Growth

AMBA has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Craig Hallum boosted their price target on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of Ambarella in a report on Thursday, February 27th. Bank of America raised Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a report on Monday, December 16th. Finally, Needham & Company LLC boosted their price target on Ambarella from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $86.67.

Hedge Funds Weigh In On Ambarella

Several large investors have recently modified their holdings of AMBA. Fuller & Thaler Asset Management Inc. bought a new position in shares of Ambarella during the 4th quarter valued at approximately $52,770,000. Point72 Asset Management L.P. increased its position in shares of Ambarella by 70.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock valued at $48,626,000 after purchasing an additional 355,078 shares during the last quarter. Invesco Ltd. increased its position in shares of Ambarella by 736.7% during the 4th quarter. Invesco Ltd. now owns 335,730 shares of the semiconductor company’s stock valued at $24,421,000 after purchasing an additional 295,606 shares during the last quarter. Barclays PLC increased its position in shares of Ambarella by 281.3% during the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock valued at $21,891,000 after purchasing an additional 286,296 shares during the last quarter. Finally, Woodline Partners LP increased its position in shares of Ambarella by 2,367.1% during the 4th quarter. Woodline Partners LP now owns 263,333 shares of the semiconductor company’s stock valued at $19,155,000 after purchasing an additional 252,659 shares during the last quarter. Institutional investors own 82.09% of the company’s stock.

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.