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 stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $79.15, for a total transaction of $79,150.00. Following the completion of the sale, the chief operating officer now directly owns 116,918 shares of the company’s stock, valued at $9,254,059.70. This represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Ambarella Stock Performance

NASDAQ AMBA traded up $1.88 during trading on Wednesday, hitting $76.20. The stock had a trading volume of 927,164 shares, compared to its average volume of 914,985. Ambarella, Inc. has a one year low of $39.69 and a one year high of $81.32. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -19.74 and a beta of 1.66. The stock has a 50 day simple moving average of $67.75 and a 200 day simple moving average of $59.09.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Stifel Nicolaus increased their target price on Ambarella from $80.00 to $95.00 and gave the stock a “buy” rating in a research 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. Northland Securities reissued an “outperform” rating and issued a $95.00 target price (up previously from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Finally, 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.17.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its holdings in Ambarella by 2.6% during the 3rd quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock valued at $108,536,000 after buying an additional 47,856 shares in the last quarter. Millennium Management LLC increased its position in shares of Ambarella by 7.0% during the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock worth $78,091,000 after acquiring an additional 94,257 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Ambarella by 4.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock valued at $76,332,000 after acquiring an additional 61,387 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ambarella by 1.6% in 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. Finally, Point72 Asset Management L.P. grew its stake in Ambarella by 70.0% in the third quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock worth $48,626,000 after purchasing an additional 355,078 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors.

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.