Ambarella, Inc. (NASDAQ:AMBA) Stock Position Raised by Algert Global LLC

Algert Global LLC lifted its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 76.2% during the third quarter, Holdings Channel reports. The firm owned 94,999 shares of the semiconductor company’s stock after purchasing an additional 41,094 shares during the quarter. Algert Global LLC’s holdings in Ambarella were worth $5,358,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AMBA. Vanguard Group Inc. increased its stake in Ambarella by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after purchasing an additional 248,297 shares in the last quarter. Millennium Management LLC increased its position in shares of Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock worth $78,091,000 after acquiring an additional 94,257 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Ambarella by 36.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after acquiring an additional 343,385 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Ambarella by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 683,119 shares of the semiconductor company’s stock valued at $36,854,000 after acquiring an additional 2,994 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Ambarella by 69.2% in the 2nd quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after purchasing an additional 250,778 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Stock Up 3.8 %

Shares of Ambarella stock opened at $63.62 on Monday. Ambarella, Inc. has a 12-month low of $39.69 and a 12-month high of $65.88. The stock has a 50 day moving average price of $57.67 and a two-hundred day moving average price of $54.52. The stock has a market capitalization of $2.63 billion, a P/E ratio of -14.73 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. Ambarella’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business posted ($0.76) EPS. Sell-side analysts anticipate that Ambarella, Inc. will post -3 earnings per share for the current year.

Analyst Ratings Changes

AMBA has been the subject of a number of research analyst reports. Roth Mkm restated a “neutral” rating and issued a $60.00 target price on shares of Ambarella in a report on Wednesday, August 28th. Westpark Capital reaffirmed a “buy” rating and set a $85.00 target price on shares of Ambarella in a research note on Monday, August 26th. Susquehanna dropped their price objective on shares of Ambarella from $80.00 to $70.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Stifel Nicolaus upped their price target on shares of Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.09.

Insider Transactions at Ambarella

In other news, VP Yun-Lung Chen sold 5,963 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total transaction of $343,230.28. Following the transaction, the vice president now owns 62,026 shares in the company, valued at approximately $3,570,216.56. The trade was a 8.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Christopher Day sold 2,904 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total transaction of $168,432.00. Following the completion of the sale, the vice president now owns 18,466 shares of the company’s stock, valued at approximately $1,071,028. The trade was a 13.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,423 shares of company stock worth $1,356,402. Company insiders own 5.70% 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.