Feng-Ming Wang Sells 16,250 Shares of Ambarella (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) CEO Feng-Ming Wang sold 16,250 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $90.08, for a total value of $1,463,800.00. Following the completion of the sale, the chief executive officer owned 773,607 shares of the company’s stock, valued at approximately $69,686,518.56. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 17th, Feng-Ming Wang sold 6,204 shares of Ambarella stock. The stock was sold at an average price of $67.87, for a total value of $421,065.48.
• 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 value of $2,957,825.00.

Ambarella Price Performance

AMBA opened at $78.36 on Friday. The company has a market cap of $3.44 billion, a P/E ratio of -48.67 and a beta of 2.11. The firm’s 50-day moving average price is $74.00 and its 200-day moving average price is $66.55. Ambarella, Inc. has a 52-week low of $48.30 and a 52-week high of $96.69.

Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, May 28th. The semiconductor company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. The company had revenue of $100.36 million during the quarter, compared to analysts’ expectations of $100.12 million. Ambarella had a negative net margin of 17.18% and a negative return on equity of 10.94%. Ambarella’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period last year, the business earned $0.07 EPS. On average, research analysts anticipate that Ambarella, Inc. will post -1.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Ambarella

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP lifted its holdings in shares of Ambarella by 145.2% in the 4th quarter. GSA Capital Partners LLP now owns 24,800 shares of the semiconductor company’s stock valued at $1,757,000 after buying an additional 14,685 shares during the period. Legal & General Group Plc grew its holdings in Ambarella by 18.4% during the fourth quarter. Legal & General Group Plc now owns 614,017 shares of the semiconductor company’s stock worth $43,497,000 after acquiring an additional 95,218 shares during the period. SBI Okasan Asset Management Co.Ltd. acquired a new stake in Ambarella during the fourth quarter worth about $1,345,000. Leonteq Securities AG purchased a new position in Ambarella during the fourth quarter valued at approximately $1,903,000. Finally, Handelsbanken Fonder AB raised its position in Ambarella by 84.0% during the fourth quarter. Handelsbanken Fonder AB now owns 312,326 shares of the semiconductor company’s stock valued at $22,125,000 after acquiring an additional 142,551 shares in the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AMBA shares. Rosenblatt Securities reissued a “buy” rating and issued a $115.00 target price on shares of Ambarella in a research report on Tuesday, May 26th. Bank of America raised their target price on Ambarella from $72.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Stifel Nicolaus set a $106.00 price target on Ambarella in a research report on Friday, May 29th. Northland Securities set a $101.00 price target on Ambarella in a research note on Wednesday, June 17th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Ambarella in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Ambarella has an average rating of “Moderate Buy” and a consensus target price of $100.50.

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.