Ambarella, Inc. (NASDAQ:AMBA) Director Sells $62,580.00 in Stock

Ambarella, Inc. (NASDAQ:AMBA) Director Christopher B. Paisley sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $62.58, for a total transaction of $62,580.00. Following the completion of the transaction, the director now directly owns 39,281 shares of the company’s stock, valued at approximately $2,458,204.98. The trade was a 2.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ambarella Price Performance

AMBA stock opened at $67.06 on Friday. Ambarella, Inc. has a one year low of $38.86 and a one year high of $85.15. The stock has a market cap of $2.84 billion, a PE ratio of -26.93 and a beta of 1.99. The firm has a 50 day simple moving average of $55.05 and a two-hundred day simple moving average of $61.88.

Institutional Investors Weigh In On Ambarella

A number of institutional investors have recently made changes to their positions in the business. Arizona State Retirement System boosted its stake in shares of Ambarella by 1.4% in the 4th quarter. Arizona State Retirement System now owns 11,368 shares of the semiconductor company’s stock valued at $827,000 after purchasing an additional 156 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of Ambarella by 4.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,964 shares of the semiconductor company’s stock valued at $288,000 after purchasing an additional 161 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Ambarella by 68.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 184 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Ambarella by 3.2% in the 4th quarter. Mackenzie Financial Corp now owns 6,406 shares of the semiconductor company’s stock valued at $466,000 after purchasing an additional 201 shares in the last quarter. Finally, SWS Partners boosted its stake in shares of Ambarella by 0.4% in the 4th quarter. SWS Partners now owns 67,408 shares of the semiconductor company’s stock valued at $4,903,000 after purchasing an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMBA. Needham & Company LLC decreased their price target on shares of Ambarella from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, May 30th. Rosenblatt Securities upped their price target on shares of Ambarella from $87.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Wall Street Zen upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Morgan Stanley decreased their price objective on shares of Ambarella from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, May 27th. Finally, Summit Insights upgraded shares of Ambarella to a “hold” rating in a research report on Thursday, May 29th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.55.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.