Insider Selling: Ambarella (NASDAQ:AMBA) VP Sells $136,893.79 in Stock

Ambarella, Inc. (NASDAQ:AMBA) VP Chi-Hong Ju sold 2,017 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $67.87, for a total transaction of $136,893.79. Following the completion of the transaction, the vice president directly owned 165,924 shares of the company’s stock, valued at approximately $11,261,261.88. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Ambarella Trading Up 6.2%

Shares of AMBA traded up $4.09 during mid-day trading on Thursday, reaching $69.97. 2,098,555 shares of the stock traded hands, compared to its average volume of 1,076,372. The company has a market cap of $3.07 billion, a price-to-earnings ratio of -43.46 and a beta of 2.15. Ambarella, Inc. has a 1 year low of $48.30 and a 1 year high of $96.69. The firm has a fifty day moving average price of $70.22 and a 200 day moving average price of $66.71.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. The company had revenue of $100.36 million for the quarter, compared to the consensus estimate of $100.12 million. Ambarella had a negative return on equity of 10.94% and a negative net margin of 17.18%.The firm’s revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share. On average, sell-side analysts anticipate that Ambarella, Inc. will post -1.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AMBA shares. Susquehanna raised their price target on Ambarella from $80.00 to $110.00 and gave the company a “positive” rating in a report on Friday, May 29th. Rosenblatt Securities reissued a “buy” rating and set a $115.00 price objective on shares of Ambarella in a report on Tuesday, May 26th. Summit Insights cut shares of Ambarella from a “buy” rating to a “hold” rating in a research report on Friday, May 29th. Consumer Edge reaffirmed a “buy” rating on shares of Ambarella in a research note on Friday, May 22nd. Finally, Northland Securities set a $101.00 target price on shares of Ambarella in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ambarella has a consensus rating of “Moderate Buy” and an average target price of $100.50.

Institutional Trading of Ambarella

A number of hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its position in Ambarella by 2.1% in the 1st quarter. Royal Bank of Canada now owns 64,744 shares of the semiconductor company’s stock worth $3,258,000 after buying an additional 1,307 shares during the last quarter. Advisors Asset Management Inc. grew its position in Ambarella by 44.1% during the first quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 286 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Ambarella by 126.6% during the first quarter. AQR Capital Management LLC now owns 84,871 shares of the semiconductor company’s stock worth $4,272,000 after acquiring an additional 47,414 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Ambarella by 34.6% during the first quarter. Empowered Funds LLC now owns 6,838 shares of the semiconductor company’s stock worth $344,000 after acquiring an additional 1,758 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Ambarella by 48.1% in the 1st quarter. Intech Investment Management LLC now owns 25,586 shares of the semiconductor company’s stock worth $1,288,000 after acquiring an additional 8,306 shares during the last quarter. Institutional investors own 82.09% of the company’s stock.

About Ambarella

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.