Ambarella, Inc. COO Chan W. Lee Sells Company Shares

On January 15th, Chan W. Lee, the Chief Operating Officer (COO) of Ambarella, Inc. (NASDAQ:AMBA), sold 1,000 shares of the company's stock. The sale occurred at an average price of $75.90 per share, resulting in a total transaction value of $75,900.00. After this sale, Lee now directly owns 110,918 shares of Ambarella, which are valued at approximately $8,418,676.20. This transaction represents a decrease of 0.89% in his ownership of the stock. The details of this sale were disclosed in a legal filing with the Securities and Exchange Commission (SEC), which can be found on the SEC's website.

Ambarella Stock Performance

On the trading day following the sale, Ambarella's stock experienced an increase of 3.3%. The stock price rose by $2.61 to reach $80.79. During this trading session, 573,297 shares were exchanged, which is below the average volume of 756,472 shares. The company has a 50-day moving average price of $70.19 and a 200-day moving average price of $60.10. Over the past year, Ambarella has recorded a low of $39.69 and a high of $81.32. The company's current market capitalization stands at $3.37 billion, with a price-to-earnings ratio of -20.93 and a beta of 1.66.

Institutional Investments and Hedge Fund Activity

Recently, a number of hedge funds and institutional investors have adjusted their holdings in Ambarella. For instance, State Street Corp increased its stake in the company by 2.6% during the third quarter, acquiring an additional 47,856 shares and bringing its total to 1,924,235 shares, valued at $108,536,000. Similarly, Millennium Management LLC raised its holdings by 7.0% during the second quarter, owning now 1,447,466 shares worth approximately $78,091,000. The Manufacturers Life Insurance Company also increased its position in Ambarella by 4.8% last quarter. Overall, institutional investors own 82.09% of Ambarella's stock.

Analyst Ratings and Price Targets

Several analysts have recently updated their ratings and price targets for Ambarella. StockNews.com downgraded the stock from a "hold" rating to a "sell" rating on December 10th. In contrast, Needham & Company LLC raised its target price from $90.00 to $100.00, maintaining a "buy" rating on the stock. Apart from this, Craig Hallum also increased its target price from $85.00 to $90.00 and issued a "buy" rating. Additionally, Susquehanna increased its price target to $85.00 from $70.00, stating a "positive" rating. In total, one analyst has given Ambarella a sell rating, while four have assigned a hold rating, and eight have rated it as a buy. The average rating for the stock is currently classified as a "Moderate Buy" with a consensus target price of $84.17.

Overview of Ambarella, Inc.

Ambarella, Inc. develops semiconductor solutions that enable high-definition (HD) and ultra HD processing, image signal processing, and artificial intelligence capabilities globally. Their technology integrates various functions including HD video processing, image processing, and artificial intelligence algorithms into a single chip, enhancing video quality while ensuring low power consumption.

Ambarella, COO, Stock