Insider Selling: Ambarella (NASDAQ:AMBA) Insider Sells $187,553.19 in Stock

Key Points

• Ambarella insider Chan Lee sold 2,893 shares for approximately $187,553, reducing their ownership by 1.84% while retaining 154,443 shares.
• Ambarella recently reported quarterly EPS of $0.18, exceeding estimates by $0.01, while revenue rose 13.2% year over year to $108.12 million. However, the company remains unprofitable, with analysts expecting a full-year loss.
• AMBA traded near $66.15, below its 52-week high of $96.69. Analysts have a consensus “Hold” rating and an average price target of $89.56, with targets ranging from $65 to $120.

Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) insider Chan Lee sold 2,893 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $64.83, for a total value of $187,553.19. Following the completion of the transaction, the insider owned 154,443 shares of the company's stock, valued at $10,012,539.69. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Ambarella Price Performance

AMBA stock traded down $0.76 during midday trading on Friday, reaching $66.15. 1,435,160 shares of the stock were exchanged, compared to its average volume of 1,339,284. The stock has a market capitalization of $2.92 billion, a PE ratio of -51.28 and a beta of 2.09. Ambarella, Inc. has a 52 week low of $48.30 and a 52 week high of $96.69. The company has a fifty day moving average price of $72.06 and a 200 day moving average price of $68.09.

Ambarella (NASDAQ:AMBA - Get Free Report) last posted its earnings results on Thursday, September 3rd. The semiconductor company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. Ambarella had a negative return on equity of 10.03% and a negative net margin of 13.48%.The firm had revenue of $108.12 million during the quarter, compared to the consensus estimate of $107.76 million. During the same period last year, the company earned $0.15 earnings per share. The business's quarterly revenue was up 13.2% on a year-over-year basis. As a group, analysts anticipate that Ambarella, Inc. will post -1.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ambarella

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Essential Partners LLC increased its position in Ambarella by 90.1% during the 1st quarter. Essential Partners LLC now owns 481 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 228 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in Ambarella during the 1st quarter worth approximately $30,000. Financial Management Professionals Inc. acquired a new position in shares of Ambarella in the 2nd quarter worth approximately $32,000. EverSource Wealth Advisors LLC lifted its position in shares of Ambarella by 60.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 668 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 252 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Ambarella in the 2nd quarter worth approximately $34,000. 82.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMBA has been the subject of a number of research reports. Northland Securities set a $101.00 price objective on shares of Ambarella in a report on Wednesday, June 17th. Susquehanna upped their price target on shares of Ambarella from $80.00 to $110.00 and gave the company a "positive" rating in a research report on Friday, May 29th. Roth Capital cut their price target on shares of Ambarella from $90.00 to $65.00 and set a "neutral" rating on the stock in a report on Friday, September 4th. Rosenblatt Securities reissued a "buy" rating and issued a $120.00 price objective on shares of Ambarella in a research note on Wednesday. Finally, Bank of America decreased their price objective on Ambarella from $96.00 to $70.00 and set a "neutral" rating for the company in a report on Friday, September 4th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $89.56.

About Ambarella

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.

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