Ambarella, Inc. (NASDAQ:AMBA) Director Sells $27,954.55 in Stock

Ambarella, Inc. (NASDAQ:AMBA) Director Hsiao-Wuen Hon sold 377 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $74.15, for a total transaction of $27,954.55. Following the sale, the director now owns 28,278 shares in the company, valued at approximately $2,096,813.70. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ambarella Stock Up 5.1 %

AMBA stock traded up $3.69 during mid-day trading on Monday, reaching $76.22. The company had a trading volume of 1,115,342 shares, compared to its average volume of 607,935. Ambarella, Inc. has a one year low of $39.69 and a one year high of $81.32. The stock’s 50-day simple moving average is $62.53 and its two-hundred day simple moving average is $57.01. The stock has a market capitalization of $3.18 billion, a P/E ratio of -19.75 and a beta of 1.68.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC acquired a new stake in shares of Ambarella during the 3rd quarter valued at about $3,905,000. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 14,568 shares during the period. Sender Co & Partners Inc. bought a new stake in shares of Ambarella during the third quarter valued at approximately $481,000. Barclays PLC increased its position in shares of Ambarella by 281.3% during the third 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 period. Finally, Y Intercept Hong Kong Ltd grew its position in Ambarella by 8.7% in the third quarter. Y Intercept Hong Kong Ltd now owns 12,573 shares of the semiconductor company’s stock valued at $709,000 after acquiring an additional 1,002 shares during the period. 82.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Cowen raised their target price on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Susquehanna upped their price objective on shares of Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a report on Wednesday, November 27th. StockNews.com cut shares of Ambarella from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Bank of America upgraded shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a research report on Monday. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $60.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. 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 MarketBeat.com, Ambarella has an average rating of “Moderate Buy” and an average target price 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.