Ambarella, Inc. (NASDAQ:AMBA) Director Christopher B. Paisley Sells 1,000 Shares

Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) Director Christopher B. Paisley sold 1,000 shares of Ambarella stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $62.58, for a total value of $62,580.00. Following the sale, the director directly owned 39,281 shares in the company, valued at approximately $2,458,204.98. The trade was a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Ambarella Stock Down 1.5%

Shares of NASDAQ AMBA traded down $0.99 during midday trading on Monday, reaching $66.07. 969,175 shares of the company's stock traded hands, compared to its average volume of 761,593. The stock's 50 day simple moving average is $55.54 and its 200-day simple moving average is $61.69. Ambarella, Inc. has a one year low of $38.86 and a one year high of $85.15. The company has a market cap of $2.80 billion, a price-to-earnings ratio of -26.53 and a beta of 1.99.

Hedge Funds Weigh In On Ambarella

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers lifted its position in Ambarella by 4.0% during the first quarter. Rhumbline Advisers now owns 58,571 shares of the semiconductor company's stock valued at $2,948,000 after acquiring an additional 2,249 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Ambarella during the fourth quarter valued at $1,032,000. GAMMA Investing LLC grew its position in Ambarella by 6,804.3% during the first quarter. GAMMA Investing LLC now owns 16,156 shares of the semiconductor company's stock valued at $813,000 after buying an additional 15,922 shares during the period. Principal Financial Group Inc. acquired a new stake in Ambarella during the fourth quarter valued at $1,159,000. Finally, Charles Schwab Investment Management Inc. grew its position in Ambarella by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 325,001 shares of the semiconductor company's stock valued at $23,641,000 after buying an additional 4,682 shares during the period. 82.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMBA. Summit Insights upgraded shares of Ambarella to a "hold" rating in a report on Thursday, May 29th. Stifel Nicolaus cut their target price on shares of Ambarella from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC decreased their price target on shares of Ambarella from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Rosenblatt Securities upped their target price 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. Finally, Morgan Stanley reduced their price objective on shares of Ambarella from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 27th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.