Insider Selling: Ambarella (NASDAQ:AMBA) Director Sells 250 Shares of Company Stock

Ambarella, Inc. (NASDAQ:AMBA) Director Christopher Paisley sold 250 shares of the stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $70.76, for a total transaction of $17,690.00. Following the transaction, the director directly owned 43,930 shares of the company’s stock, valued at $3,108,486.80. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ambarella Stock Performance

NASDAQ:AMBA traded down $4.00 during mid-day trading on Monday, reaching $68.68. The stock had a trading volume of 1,213,071 shares, compared to its average volume of 1,351,847. Ambarella, Inc. has a twelve month low of $48.30 and a twelve month high of $96.69. The business has a 50 day simple moving average of $71.98 and a 200 day simple moving average of $68.63. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -53.24 and a beta of 2.09.

Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, September 3rd. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $108.12 million for the quarter, compared to analysts’ expectations of $107.76 million. Ambarella had a negative return on equity of 10.03% and a negative net margin of 13.48%.The firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS. As a group, sell-side analysts expect that Ambarella, Inc. will post -1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMBA. Stifel Nicolaus dropped their price objective on Ambarella from $106.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, September 4th. Rosenblatt Securities reissued a “buy” rating and issued a $120.00 target price on shares of Ambarella in a report on Wednesday, September 16th. Oppenheimer reaffirmed a “market perform” rating on shares of Ambarella in a research note on Friday, September 4th. Roth Capital cut their price target on shares of Ambarella from $90.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, September 4th. Finally, Northland Securities set a $101.00 price objective on shares of Ambarella in a report on Wednesday, June 17th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $89.56.

Institutional Investors Weigh In On Ambarella

Several institutional investors and hedge funds have recently made changes to their positions in AMBA. Main Management ETF Advisors LLC increased its stake in shares of Ambarella by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 17,226 shares of the semiconductor company’s stock worth $1,220,000 after purchasing an additional 176 shares in the last quarter. Essential Partners LLC lifted its stake in Ambarella by 90.1% in the 1st quarter. Essential Partners LLC now owns 481 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 228 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Ambarella by 1.7% during the 1st quarter. Lazard Asset Management LLC now owns 14,069 shares of the semiconductor company’s stock valued at $724,000 after buying an additional 234 shares during the last quarter. Arizona State Retirement System grew its holdings in Ambarella by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 11,479 shares of the semiconductor company’s stock valued at $985,000 after buying an additional 246 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Ambarella by 60.6% during the first quarter. EverSource Wealth Advisors LLC now owns 668 shares of the semiconductor company’s stock worth $34,000 after buying an additional 252 shares in the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Ambarella Company Profile

Ambarella, Inc is a fabless semiconductor company that develops low-power system-on-chip (SoC) solutions for video processing and artificial intelligence at the edge. Its technology is designed to help devices capture, process, analyze and transmit high-quality video while reducing the need to send data to cloud-based systems.

The company’s product portfolio includes its CVflow family of AI vision processors, video processors and related software. These solutions support computer vision and machine learning applications in security cameras, automotive systems, advanced driver-assistance systems, robotics, industrial equipment and consumer devices.

Founded in 2004 and headquartered in Santa Clara, California, Ambarella serves customers and markets globally through its semiconductor products and technology partnerships.