Wells Fargo & Company MN raised its holdings in Ambarella Inc (NASDAQ:AMBA) by 13.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,973 shares of the semiconductor company’s stock after buying an additional 10,630 shares during the period. Wells Fargo & Company MN owned about 0.27% of Ambarella worth $3,927,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the business. Pinnacle Associates Ltd. grew its stake in Ambarella by 3.7% during the first quarter. Pinnacle Associates Ltd. now owns 750,484 shares of the semiconductor company’s stock valued at $32,421,000 after acquiring an additional 26,735 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in Ambarella by 19.9% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 627,373 shares of the semiconductor company’s stock valued at $27,102,000 after purchasing an additional 104,153 shares during the last quarter. Neuberger Berman Group LLC bought a new stake in Ambarella during the first quarter valued at approximately $27,057,000. FIL Ltd lifted its holdings in shares of Ambarella by 112.5% in the 1st quarter. FIL Ltd now owns 554,076 shares of the semiconductor company’s stock worth $23,936,000 after acquiring an additional 293,373 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in Ambarella by 1.0% during the 1st quarter. Artisan Partners Limited Partnership now owns 465,970 shares of the semiconductor company’s stock valued at $20,130,000 after buying an additional 4,434 shares during the last quarter. 73.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ambarella stock traded down $0.90 during trading on Friday, hitting $63.76. 917,586 shares of the stock traded hands, compared to its average volume of 1,133,154. The firm has a market cap of $2.13 billion, a P/E ratio of -57.44 and a beta of 1.20. The company has a current ratio of 9.01, a quick ratio of 8.64 and a debt-to-equity ratio of 0.01. Ambarella Inc has a 52-week low of $30.00 and a 52-week high of $67.15. The stock’s fifty day simple moving average is $52.59 and its 200 day simple moving average is $46.72.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Thursday, August 29th. The semiconductor company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.05. The firm had revenue of $56.41 million for the quarter, compared to analyst estimates of $52.00 million. Ambarella had a negative return on equity of 10.82% and a negative net margin of 19.38%. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. As a group, equities analysts expect that Ambarella Inc will post -1.13 EPS for the current year.
In related news, VP Christopher Day sold 2,587 shares of Ambarella stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $64.90, for a total transaction of $167,896.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Feng-Ming Wang sold 60,000 shares of Ambarella stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $59.18, for a total value of $3,550,800.00. Following the sale, the chief executive officer now directly owns 514,944 shares of the company’s stock, valued at approximately $30,474,385.92. The disclosure for this sale can be found here. Insiders sold 95,890 shares of company stock worth $5,804,072 in the last quarter. 6.31% of the stock is owned by insiders.
A number of analysts have recently weighed in on the stock. Roth Capital upped their target price on shares of Ambarella from $45.00 to $55.00 in a research report on Tuesday, September 3rd. Needham & Company LLC reissued a “sell” rating on shares of Ambarella in a report on Friday, August 30th. ValuEngine raised shares of Ambarella from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 2nd. Zacks Investment Research raised shares of Ambarella from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Thursday, September 5th. Finally, Craig Hallum set a $62.00 price target on Ambarella and gave the stock a “buy” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Ambarella presently has an average rating of “Buy” and a consensus price target of $59.38.
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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