Ambiq Micro, Inc. (NYSE:AMBQ – Get Free Report) shares traded down 9.9% on Tuesday . The company traded as low as $74.50 and last traded at $75.4940. Approximately 153,333 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 508,855 shares. The stock had previously closed at $83.82.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on AMBQ. Needham & Company LLC upped their price objective on shares of Ambiq Micro from $48.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Ambiq Micro in a research report on Monday, June 29th. Northland Securities set a $86.00 target price on shares of Ambiq Micro in a research note on Wednesday. Zacks Research upgraded shares of Ambiq Micro from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Finally, UBS Group increased their price target on Ambiq Micro from $43.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ambiq Micro presently has a consensus rating of “Hold” and a consensus price target of $61.20.
Get Our Latest Analysis on Ambiq Micro
Ambiq Micro Trading Up 9.2%
Insiders Place Their Bets
In other news, CEO Fumihide Esaka sold 60,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $70.02, for a total transaction of $4,201,200.00. Following the transaction, the chief executive officer owned 391,189 shares in the company, valued at approximately $27,391,053.78. This represents a 13.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Scott Mclean Hanson sold 10,200 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $69.24, for a total transaction of $706,248.00. Following the transaction, the chief technology officer directly owned 203,126 shares in the company, valued at $14,064,444.24. This trade represents a 4.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 222,477 shares of company stock valued at $16,304,893 in the last 90 days.
Institutional Trading of Ambiq Micro
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atreides Management LP boosted its holdings in Ambiq Micro by 23.8% in the first quarter. Atreides Management LP now owns 862,175 shares of the company’s stock worth $21,908,000 after acquiring an additional 165,755 shares in the last quarter. Alliancebernstein L.P. bought a new stake in shares of Ambiq Micro during the third quarter valued at approximately $13,050,000. KADENSA CAPITAL Ltd acquired a new position in shares of Ambiq Micro during the third quarter worth approximately $11,818,000. Franklin Resources Inc. raised its position in shares of Ambiq Micro by 2,474.3% during the fourth quarter. Franklin Resources Inc. now owns 307,887 shares of the company’s stock worth $8,775,000 after purchasing an additional 295,927 shares during the period. Finally, Vanguard Group Inc. bought a new position in shares of Ambiq Micro in the 3rd quarter worth $9,210,000.
Ambiq Micro Company Profile
Ambiq Micro (NYSE: AMBQ) is a semiconductor company specializing in the design and development of ultra-low-power microcontroller units (MCUs) and application-specific integrated circuits (ASICs). The company’s core technology leverages sub-threshold voltage operation to dramatically reduce energy consumption, enabling extended battery life in a broad range of portable and always-on devices. Ambiq’s products are particularly well suited for applications where power efficiency is critical, such as wearable electronics, IoT sensors, medical monitoring equipment, and industrial automation systems.
The company’s flagship product family, the Apollo series of MCUs, offers multi-core architectures, integrated wireless connectivity options, and advanced security features.
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