Ambarella, Inc. COO Chan W. Lee Sells Shares

On January 15th, Chan W. Lee, the Chief Operating Officer of Ambarella, Inc. (NASDAQ:AMBA - Get Free Report), sold 1,000 shares of the company’s stock. The shares were sold at an average price of $75.90, resulting in a total transaction value of $75,900.00. Following this transaction, Lee now directly owns 110,918 shares of Ambarella, which amounts to approximately $8,418,676.20 in value. This sale represents a 0.89% decrease in his overall ownership. The transaction details were disclosed in a legal filing with the Securities and Exchange Commission, and the filing can be accessed through their official website.

Recent Performance of Ambarella Stock

Ambarella’s stock recently saw an increase of 3.3% during trading on a Friday session, trading up by $2.61 to reach a price of $80.79. In that session, approximately 573,297 shares were exchanged, compared to the average trading volume of 756,472 shares. Ambarella has a 50-day moving average price of $70.19, while its 200-day moving average stands at $60.10. The company’s stock has experienced a twelve month low of $39.69 and a twelve month high of $81.32. Currently, Ambarella, Inc. has a market capitalization of around $3.37 billion, a price-to-earnings ratio of -20.93, and a beta of 1.66.

Institutional Investors' Interest in Ambarella

Several hedge funds and institutional investors have been adjusting their stakes in Ambarella recently. State Street Corp increased its holdings by 2.6% during the third quarter, now owning 1,924,235 shares valued at $108,536,000 after purchasing an additional 47,856 shares. Meanwhile, Millennium Management LLC raised its stake by 7.0% in the second quarter, acquiring 94,257 more shares to a total of 1,447,466 shares worth $78,091,000. The Manufacturers Life Insurance Company also increased its position by 4.8% in the third quarter, adding another 61,387 shares to own 1,353,287 shares valued at $76,332,000. Furthermore, Geode Capital Management LLC boosted its holdings by 1.6% in the third quarter to own 916,757 shares, while Point72 Asset Management L.P. raised its position by 70.0%, now owning 862,084 shares valued at $48,626,000. Institutional investors now hold 82.09% of Ambarella's stock.

Analyst Rating Changes for Ambarella

Recent reports from various analysts have provided updates on Ambarella's stock rating. StockNews.com downgraded the company from a "hold" rating to a "sell" rating on December 10th. Conversely, Needham & Company LLC increased their target price for Ambarella from $90.00 to $100.00 and assigned a "buy" rating in a report dated November 27th. Craig Hallum also lifted their target price from $85.00 to $90.00 on the same date, maintaining a "buy" rating. Susquehanna raised its price target from $70.00 to $85.00 while issuing a "positive" rating. Lastly, Rosenblatt Securities reiterated a "buy" rating, setting a price objective of $100.00. Overall, one analyst recommends selling, four analysts suggest holding, and eight analysts favor buying the stock. MarketBeat's data suggests that Ambarella currently holds an average rating of "Moderate Buy" with a consensus target price of $84.17.

Overview of Ambarella, Inc.

Ambarella, Inc. specializes in developing semiconductor solutions for high-definition (HD), ultra HD compression, image signal processing, and artificial intelligence processing around the globe. The company's innovative system-on-a-chip designs integrate various functions focused on HD video processing, image processing, artificial intelligence computer vision algorithms, and audio processing onto a single chip. Their technology aims to deliver enhanced video and image quality, distinct functionality, and low power consumption.

Ambarella, stock, sale