Handelsbanken Fonder AB bought a new position in shares of Ambarella Inc (NASDAQ:AMBA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,444 shares of the semiconductor company’s stock, valued at approximately $295,000.
Several other institutional investors and hedge funds have also made changes to their positions in AMBA. Captrust Financial Advisors acquired a new stake in shares of Ambarella during the second quarter worth about $27,000. Asset Management One Co. Ltd. acquired a new stake in Ambarella in the first quarter valued at about $76,000. Truvestments Capital LLC lifted its position in Ambarella by 658.0% in the second quarter. Truvestments Capital LLC now owns 2,509 shares of the semiconductor company’s stock valued at $114,000 after purchasing an additional 2,178 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ambarella by 23.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,973 shares of the semiconductor company’s stock valued at $136,000 after purchasing an additional 571 shares during the period. Finally, State of Tennessee Treasury Department acquired a new stake in Ambarella in the first quarter valued at about $146,000. Institutional investors and hedge funds own 72.95% of the company’s stock.
A number of equities research analysts recently commented on the stock. Rosenblatt Securities raised their price objective on shares of Ambarella from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Berenberg Bank assumed coverage on shares of Ambarella in a research report on Friday, September 18th. They issued a “buy” rating and a $67.00 price objective for the company. Bank of America raised their price objective on shares of Ambarella from $44.00 to $50.00 and gave the company an “underperform” rating in a research report on Wednesday, June 3rd. Zacks Investment Research upgraded shares of Ambarella from a “sell” rating to a “hold” rating and set a $47.00 price objective for the company in a research report on Tuesday, June 30th. Finally, Roth Capital lifted their price target on shares of Ambarella from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $62.69.
Shares of AMBA opened at $52.18 on Thursday. The firm has a 50 day simple moving average of $49.87 and a 200-day simple moving average of $49.23. Ambarella Inc has a 1-year low of $36.02 and a 1-year high of $73.59. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -37.27 and a beta of 1.22.
Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Wednesday, September 2nd. The semiconductor company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.08. Ambarella had a negative net margin of 20.67% and a negative return on equity of 10.04%. The business had revenue of $50.10 million during the quarter, compared to analysts’ expectations of $50.00 million. During the same period last year, the company posted $0.21 EPS. The company’s revenue was down 11.2% on a year-over-year basis. On average, equities analysts expect that Ambarella Inc will post -1.39 earnings per share for the current year.
In other news, CTO Leslie Kohn sold 4,891 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $53.18, for a total transaction of $260,103.38. Following the completion of the transaction, the chief technology officer now directly owns 939,327 shares of the company’s stock, valued at approximately $49,953,409.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Feng-Ming Wang sold 5,343 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $53.18, for a total transaction of $284,140.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,794 shares of company stock valued at $941,362. Corporate insiders own 5.69% of the company’s stock.
Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.
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