Insider Selling: Ambarella CEO Sells 4,099 Shares of Stock (AMBA)
Ambarella (NASDAQ:AMBA) CEO Feng-Ming Wang unloaded 4,099 shares of Ambarella stock on the open market in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $26.55, for a total value of $108,828.45. Following the transaction, the chief executive officer now directly owns 341,343 shares in the company, valued at approximately $9,062,657. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Ambarella (NASDAQ:AMBA) traded up 0.07% during mid-day trading on Wednesday, hitting $28.93. 730,574 shares of the company’s stock traded hands. Ambarella has a 52 week low of $13.16 and a 52 week high of $36.49. The stock’s 50-day moving average is $25.10 and its 200-day moving average is $28.04. The company has a market cap of $845.5 million and a P/E ratio of 33.93.
Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.25 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.04. The company had revenue of $40.90 million for the quarter, compared to the consensus estimate of $40.00 million. During the same quarter last year, the company posted $0.21 earnings per share. Ambarella’s revenue was up 20.6% compared to the same quarter last year. On average, analysts predict that Ambarella will post $1.17 earnings per share for the current fiscal year.
AMBA has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Ambarella in a research note on Wednesday, June 4th. They now have a $27.00 price target on the stock, down previously from $32.00. Separately, analysts at Ascendiant Capital Markets initiated coverage on shares of Ambarella in a research note on Monday, May 19th. They set a “buy” rating and a $30.00 price target on the stock. Finally, analysts at Dougherty & Co upgraded shares of Ambarella from a “neutral” rating to a “buy” rating in a research note on Thursday, April 10th. They now have a $35.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $29.85.
Ambarella, Inc is a developer of semiconductor processing solutions for video that enable high-definition (NASDAQ:AMBA), video capture, sharing and display.
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