Ambarella, Inc. (NASDAQ:AMBA – Get Free Report) COO Chan W. Lee sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $73.48, for a total value of $73,480.00. Following the completion of the sale, the chief operating officer now directly owns 114,918 shares of the company’s stock, valued at approximately $8,444,174.64. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Ambarella Trading Up 2.5 %
NASDAQ:AMBA opened at $76.20 on Thursday. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $81.32. The firm’s 50 day moving average is $68.09 and its 200 day moving average is $59.21. The stock has a market capitalization of $3.18 billion, a PE ratio of -19.74 and a beta of 1.66.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of Ambarella in a research report on Friday, December 6th. StockNews.com lowered shares of Ambarella from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Morgan Stanley raised their price target on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Needham & Company LLC upped their price objective on shares of Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Craig Hallum increased their price objective on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $84.17.
Institutional Trading of Ambarella
Several hedge funds have recently made changes to their positions in AMBA. Lord Abbett & CO. LLC bought a new position in shares of Ambarella during the 3rd quarter worth $3,905,000. Geode Capital Management LLC boosted its position in Ambarella by 1.6% during the third quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock worth $51,719,000 after purchasing an additional 14,568 shares during the period. Sender Co & Partners Inc. purchased a new position in shares of Ambarella in the third quarter worth about $481,000. Barclays PLC increased its stake in shares of Ambarella by 281.3% in the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after purchasing an additional 286,296 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its position in shares of 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 purchasing an additional 1,002 shares during the period. 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.
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