Chan W. Lee Sells 1,468 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) COO Chan W. Lee sold 1,468 shares of Ambarella stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $80,769.36. Following the completion of the transaction, the chief operating officer now owns 130,297 shares of the company's stock, valued at approximately $7,168,940.94. This represents a 1.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Ambarella Price Performance

AMBA stock traded up $1.35 during midday trading on Monday, hitting $55.61. 531,686 shares of the stock traded hands, compared to its average volume of 656,460. Ambarella, Inc. has a 1-year low of $39.69 and a 1-year high of $85.15. The stock's fifty day simple moving average is $69.81 and its 200-day simple moving average is $65.43. The firm has a market cap of $2.32 billion, a P/E ratio of -14.41 and a beta of 1.78.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AMBA shares. StockNews.com raised shares of Ambarella from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Stifel Nicolaus raised their price objective on shares of Ambarella from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Craig Hallum upped their target price on Ambarella from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Rosenblatt Securities reiterated a "buy" rating and set a $100.00 target price on shares of Ambarella in a research report on Thursday, February 27th. Finally, Morgan Stanley increased their price objective on Ambarella from $73.00 to $90.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 27th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Ambarella has a consensus rating of "Moderate Buy" and a consensus target price of $86.67.

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Hedge Funds Weigh In On Ambarella

Several institutional investors and hedge funds have recently modified their holdings of AMBA. Wealth Enhancement Advisory Services LLC purchased a new position in Ambarella during the fourth quarter worth approximately $278,000. Centaurus Financial Inc. acquired a new position in shares of Ambarella during the 4th quarter worth approximately $325,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Ambarella during the 4th quarter valued at approximately $452,000. Mackenzie Financial Corp grew its stake in Ambarella by 3.2% in the 4th quarter. Mackenzie Financial Corp now owns 6,406 shares of the semiconductor company's stock valued at $466,000 after acquiring an additional 201 shares during the period. Finally, Castleark Management LLC purchased a new stake in Ambarella in the 4th quarter worth $2,325,000. Hedge funds and other institutional investors own 82.09% of the company's stock.

Ambarella Company Profile

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.