Lee Chan, the Chief Operating Officer of Ambarella Inc . (NASDAQ:AMBA), a company with a market capitalization of $3.17 billion, recently sold a total of 3,000 shares of the company's ordinary stock. The transactions were conducted over three consecutive days, from January 6 to January 8, 2025, as part of a previously established Rule 10b5-1 trading plan.
The shares were sold at prices ranging from $73.48 to $79.15 per share, resulting in a total transaction value of $231,360. Following these sales, Chan holds 114,918 shares in the company.
These transactions were filed with the Securities and Exchange Commission on January 8, 2025.
In other recent news, Ambarella Inc. reported a significant 63% year-over-year revenue increase for the third quarter of fiscal year 2025, reaching $82.7 million. This robust performance was largely driven by significant demand for its AI and edge computing solutions, particularly in the automotive and IoT markets. In response to these strong results, several analyst firms have revised their outlooks on Ambarella. Needham maintained a Buy rating and increased its price target to $100.00, up from the previous $90.00. Rosenblatt Securities, Susquehanna, and Stifel also raised their price targets and maintained positive ratings.
Furthermore, Ambarella has entered into a significant lease agreement for new executive offices in Santa Clara, California. The lease encompasses approximately 57,871 square feet of office space at 3001 Tasman Drive, with the lease commencement contingent on the completion of specific improvements to the facility, expected by September 1, 2025. Ambarella's management remains optimistic about the company's growth trajectory, with AI-related revenue now constituting approximately 70% of the total revenue. The company provided a midpoint revenue guidance of $78.0 million for the fourth quarter of fiscal year 2025 and forecasts a 22-24% revenue growth for fiscal 2025, with continued growth expected in both automotive and IoT segments into fiscal 2026.
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