Ambarella (NASDAQ:AMBA) CEO Feng-Ming Wang Sells 6,204 Shares of Stock

Ambarella, Inc. (NASDAQ:AMBA) CEO Feng-Ming Wang sold 6,204 shares of the company’s stock in a transaction dated 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 in the company, valued at $54,286,294.59. The trade was a 0.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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 value of $2,957,825.00.

Ambarella Trading Up 6.2%

Shares of Ambarella stock traded up $4.09 on Thursday, reaching $69.97. 2,098,155 shares of the company were exchanged, compared to its average volume of 1,076,372. Ambarella, Inc. has a one year low of $48.30 and a one year high of $96.69. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -43.46 and a beta of 2.15. The company has a 50-day moving average of $70.22 and a 200 day moving average of $66.71.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $100.36 million during 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 for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 EPS. Analysts predict that Ambarella, Inc. will post -1.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Northland Securities set a $101.00 price objective on shares of Ambarella in a research report on Wednesday. Summit Insights cut shares of Ambarella from a “buy” rating to a “hold” rating in a report on Friday, May 29th. Bank of America raised their target price on shares of Ambarella from $72.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Susquehanna lifted their price target on Ambarella from $80.00 to $110.00 and gave the stock a “positive” rating in a report on Friday, May 29th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $115.00 price target on shares of Ambarella in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $100.50.

Hedge Funds Weigh In On Ambarella

Several large investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its stake in shares of Ambarella by 2.1% during 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 stake in Ambarella by 44.1% in the 1st quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 286 shares during the last quarter. AQR Capital Management LLC grew its stake in Ambarella by 126.6% in the 1st quarter. AQR Capital Management LLC now owns 84,871 shares of the semiconductor company’s stock valued at $4,272,000 after buying an additional 47,414 shares during the last quarter. Empowered Funds LLC raised its holdings in Ambarella by 34.6% in the 1st quarter. Empowered Funds LLC now owns 6,838 shares of the semiconductor company’s stock valued at $344,000 after acquiring an additional 1,758 shares during the period. Finally, Intech Investment Management LLC raised its holdings in Ambarella by 48.1% in the 1st quarter. Intech Investment Management LLC now owns 25,586 shares of the semiconductor company’s stock valued at $1,288,000 after acquiring an additional 8,306 shares during the period. 82.09% of the stock is owned by institutional investors.

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.