Ambiq Micro (NYSE:AMBQ) Shares Down 8.7% – Should You Sell?

Ambiq Micro, Inc. (NYSE:AMBQ) fell 8.7% on Friday . The company traded as low as $69.36 and last traded at $68.2710. Approximately 44,718 shares were traded during mid-day trading, a decline of 91% from the average session volume of 501,731 shares. The stock had previously closed at $74.77.

Analysts Set New Price Targets

AMBQ has been the subject of a number of analyst reports. UBS Group raised their price target on shares of Ambiq Micro from $43.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Zacks Research raised Ambiq Micro from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Northland Securities set a $86.00 price target on Ambiq Micro in a research report on Wednesday, July 8th. Roth Capital started coverage on Ambiq Micro in a research note on Monday, July 13th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Needham & Company LLC lifted their price objective on Ambiq Micro from $48.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ambiq Micro has a consensus rating of “Hold” and a consensus price target of $71.83.

Ambiq Micro Trading Down 6.0%

The firm has a market capitalization of $1.50 billion and a price-to-earnings ratio of -3.40. The firm has a fifty day moving average price of $80.76 and a 200 day moving average price of $49.55.

Insider Buying and Selling

In related news, CFO Jeffrey G. Winzeler sold 26,000 shares of Ambiq Micro stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $69.90, for a total transaction of $1,817,400.00. Following the completion of the sale, the chief financial officer directly owned 94,395 shares of the company’s stock, valued at $6,598,210.50. The trade was a 21.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Sean Chihhsiang Chen sold 55,685 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $70.89, for a total value of $3,947,509.65. Following the completion of the transaction, the chief operating officer directly owned 120,275 shares in the company, valued at $8,526,294.75. The trade was a 31.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 222,477 shares of company stock worth $16,304,893 over the last 90 days. 10.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Ambiq Micro

A number of hedge funds have recently modified their holdings of the company. First Eagle Investment Management LLC raised its holdings in Ambiq Micro by 222.1% in the fourth quarter. First Eagle Investment Management LLC now owns 189,723 shares of the company’s stock worth $5,407,000 after purchasing an additional 130,823 shares during the period. Monashee Investment Management LLC grew its holdings in shares of Ambiq Micro by 21.9% in the 1st quarter. Monashee Investment Management LLC now owns 103,756 shares of the company’s stock valued at $2,636,000 after buying an additional 18,667 shares during the period. Roubaix Capital LLC acquired a new position in shares of Ambiq Micro in the 1st quarter valued at $3,197,000. Summit Partners Public Asset Management LLC increased its position in shares of Ambiq Micro by 32.1% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 123,597 shares of the company’s stock valued at $3,523,000 after buying an additional 30,000 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its position in shares of Ambiq Micro by 54.9% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 26,442 shares of the company’s stock valued at $672,000 after buying an additional 9,369 shares in the last quarter.

Ambiq Micro Company Profile

Ambiq Micro (NYSE: AMBQ) is a semiconductor company specializing in the design and development of ultra-low-power microcontroller units (MCUs) and application-specific integrated circuits (ASICs). The company’s core technology leverages sub-threshold voltage operation to dramatically reduce energy consumption, enabling extended battery life in a broad range of portable and always-on devices. Ambiq’s products are particularly well suited for applications where power efficiency is critical, such as wearable electronics, IoT sensors, medical monitoring equipment, and industrial automation systems.

The company’s flagship product family, the Apollo series of MCUs, offers multi-core architectures, integrated wireless connectivity options, and advanced security features.