Insider Selling: Ambarella (NASDAQ:AMBA) CEO Sells $421,065.48 in Stock

Ambarella, Inc. (NASDAQ:AMBA) CEO Feng-Ming Wang sold 6,204 shares of Ambarella stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $67.87, for a total value of $421,065.48. Following the sale, the chief executive officer owned 799,857 shares of the company’s stock, valued at approximately $54,286,294.59. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Feng-Ming Wang also recently made the following trade(s):

• On Tuesday, May 26th, Feng-Ming Wang sold 32,500 shares of Ambarella stock. The stock was sold at an average price of $91.01, for a total transaction of $2,957,825.00.

Ambarella Price Performance

AMBA stock opened at $69.97 on Friday. The company has a market capitalization of $3.07 billion, a PE ratio of -43.46 and a beta of 2.15. Ambarella, Inc. has a 12 month low of $48.30 and a 12 month high of $96.69. The firm’s 50-day moving average is $70.93 and its 200 day moving average is $66.70.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AMBA shares. Northland Securities set a $101.00 price target on Ambarella in a report on Wednesday. Bank of America raised their price objective on Ambarella from $72.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Consumer Edge reaffirmed a “buy” rating on shares of Ambarella in a research report on Friday, May 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 target price on shares of Ambarella in a research report on Tuesday, May 26th. Finally, Summit Insights cut Ambarella from a “buy” rating to a “hold” rating in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $100.50.

Institutional Investors Weigh In On Ambarella

Several large investors have recently modified their holdings of the business. Main Management ETF Advisors LLC lifted its stake in Ambarella by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 17,226 shares of the semiconductor company’s stock valued at $1,220,000 after buying an additional 176 shares in the last quarter. National Bank of Canada FI increased its stake in Ambarella by 18.9% during the 3rd quarter. National Bank of Canada FI now owns 1,146 shares of the semiconductor company’s stock worth $95,000 after buying an additional 182 shares in the last quarter. Pallas Capital Advisors LLC increased its stake in Ambarella by 6.5% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,109 shares of the semiconductor company’s stock worth $220,000 after buying an additional 190 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Ambarella by 1.5% during the third quarter. Natixis Advisors LLC now owns 13,721 shares of the semiconductor company’s stock valued at $1,132,000 after acquiring an additional 204 shares during the last quarter. Finally, Mariner LLC raised its holdings in shares of Ambarella by 2.6% during the third quarter. Mariner LLC now owns 8,574 shares of the semiconductor company’s stock valued at $707,000 after acquiring an additional 219 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.