John Alexander Young Sells 3,126 Shares of Ambarella (NASDAQ:AMBA) Stock

Key Points

• Ambarella CFO John Young sold 3,126 shares at an average price of $64.83, generating approximately $202,659. He retained 109,702 shares after the transaction.
• Ambarella reported quarterly revenue of $108.12 million, up 13.2% year over year, and earnings of $0.18 per share, slightly exceeding analyst expectations.
• The stock traded at $66.15, while analysts’ consensus rating was “Hold” with an average price target of $89.56; 82.09% of shares are held by institutional investors and hedge funds.

Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) CFO John Young sold 3,126 shares of the business's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $64.83, for a total value of $202,658.58. Following the completion of the sale, the chief financial officer directly owned 109,702 shares of the company's stock, valued at approximately $7,111,980.66. This represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Ambarella Stock Performance

Shares of Ambarella stock traded down $0.76 during trading hours on Friday, reaching $66.15. The company's stock had a trading volume of 1,435,160 shares, compared to its average volume of 1,339,284. Ambarella, Inc. has a one year low of $48.30 and a one year high of $96.69. The stock has a market cap of $2.92 billion, a P/E ratio of -51.28 and a beta of 2.09. The company's 50 day simple moving average is $72.06 and its 200 day simple moving average is $68.09.

Ambarella (NASDAQ:AMBA - Get Free Report) last issued its quarterly earnings data on Thursday, September 3rd. The semiconductor company reported $0.18 EPS for the quarter, topping analysts' consensus estimates 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 in the prior year, the business earned $0.15 EPS. The firm's revenue was up 13.2% on a year-over-year basis. On average, sell-side analysts predict that Ambarella, Inc. will post -1.11 earnings per share for the current fiscal year.

Institutional Trading of Ambarella

Several large investors have recently added to or reduced their stakes in AMBA. Essential Partners LLC boosted its position in shares of Ambarella by 90.1% in the first quarter. Essential Partners LLC now owns 481 shares of the semiconductor company's stock worth $25,000 after buying an additional 228 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in Ambarella during the 1st quarter worth about $30,000. Financial Management Professionals Inc. acquired a new position in shares of Ambarella in the 2nd quarter valued at about $32,000. EverSource Wealth Advisors LLC lifted its position in shares of Ambarella by 60.6% in the first quarter. EverSource Wealth Advisors LLC now owns 668 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 252 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Ambarella during the second quarter worth approximately $34,000. 82.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on AMBA shares. Roth Capital lowered their price objective on shares of Ambarella from $90.00 to $65.00 and set a "neutral" rating on the stock in a research note on Friday, September 4th. Susquehanna upped their price target on Ambarella from $80.00 to $110.00 and gave the company a "positive" rating in a report on Friday, May 29th. Summit Insights downgraded Ambarella from a "buy" rating to a "hold" rating in a research report on Friday, May 29th. Bank of America decreased their target price on Ambarella from $96.00 to $70.00 and set a "neutral" rating on the stock in a report on Friday, September 4th. Finally, Consumer Edge reaffirmed a "buy" rating on shares of Ambarella in a report on Friday, May 22nd. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus 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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