Creative Planning Makes New $325,000 Investment in Ambarella, Inc. (NASDAQ:AMBA)

Creative Planning acquired a new position in shares of Ambarella, Inc. (NASDAQ:AMBA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,032 shares of the semiconductor company’s stock, valued at approximately $325,000.

Other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new position in shares of Ambarella in the 2nd quarter worth about $26,000. CWM LLC boosted its holdings in shares of Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after buying an additional 304 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Ambarella by 62.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock worth $78,000 after buying an additional 552 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Ambarella by 13,576.9% during the first quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock valued at $90,000 after purchasing an additional 1,765 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Ambarella during the first quarter valued at about $205,000. 82.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on AMBA. Stifel Nicolaus upped their price objective on shares of Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Ambarella in a report on Friday, August 23rd. Roth Mkm reaffirmed a “neutral” rating and set a $60.00 price objective on shares of Ambarella in a report on Wednesday, August 28th. Bank of America upped their price objective on shares of Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target 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 given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Ambarella presently has an average rating of “Hold” and an average price target of $75.00.

Insider Buying and Selling

In other Ambarella news, VP Yun-Lung Chen sold 5,963 shares of the stock in a transaction that occurred on 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 directly owns 62,026 shares in the company, valued at $3,570,216.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ambarella news, VP Christopher Day sold 483 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $25,859.82. Following the transaction, the vice president now directly owns 21,370 shares in the company, valued at $1,144,149.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Yun-Lung Chen sold 5,963 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total value of $343,230.28. Following the sale, the vice president now directly owns 62,026 shares of the company’s stock, valued at approximately $3,570,216.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,423 shares of company stock worth $1,356,402. Insiders own 5.70% of the company’s stock.

Ambarella Trading Up 0.4 %

AMBA stock opened at $57.49 on Friday. The company’s 50 day moving average is $53.76 and its 200 day moving average is $52.11. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -13.50 and a beta of 1.62. Ambarella, Inc. has a 1-year low of $39.69 and a 1-year high of $65.88.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. The company had revenue of $63.70 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.76) earnings per share. As a group, sell-side analysts forecast that Ambarella, Inc. will post -3 EPS for the current fiscal year.

About Ambarella

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.