Freemont Management S.A. increased its position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 251.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 135,800 shares of the semiconductor company's stock after buying an additional 97,211 shares during the quarter. Freemont Management S.A. owned 0.31% of Ambarella worth $6,990,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada boosted its position in Ambarella by 2.1% during the 1st quarter. Royal Bank of Canada now owns 64,744 shares of the semiconductor company's stock worth $3,258,000 after acquiring an additional 1,307 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Ambarella by 44.1% in the first quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company's stock valued at $47,000 after purchasing an additional 286 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Ambarella by 126.6% in the first quarter. AQR Capital Management LLC now owns 84,871 shares of the semiconductor company's stock worth $4,272,000 after purchasing an additional 47,414 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Ambarella by 34.6% in the first quarter. Empowered Funds LLC now owns 6,838 shares of the semiconductor company's stock worth $344,000 after purchasing an additional 1,758 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in Ambarella by 48.1% during the first quarter. Intech Investment Management LLC now owns 25,586 shares of the semiconductor company's stock worth $1,288,000 after purchasing an additional 8,306 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company's stock.
Ambarella Price Performance
Shares of AMBA stock opened at $61.84 on Friday. The company has a fifty day moving average price of $74.58 and a two-hundred day moving average price of $66.56. Ambarella, Inc. has a one year low of $48.30 and a one year high of $96.69. The stock has a market cap of $2.71 billion, a P/E ratio of -38.41 and a beta of 2.11.
Ambarella (NASDAQ:AMBA - Get Free Report) last issued its earnings results on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.11. Ambarella had a negative net margin of 17.18% and a negative return on equity of 10.94%. The company had revenue of $100.36 million for the quarter, compared to analysts' expectations of $100.12 million. During the same period in the prior year, the firm earned $0.07 EPS. Ambarella's quarterly revenue was up 16.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Ambarella, Inc. will post -1.13 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on AMBA shares. Bank of America raised their target price on shares of Ambarella from $72.00 to $96.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Weiss Ratings raised shares of Ambarella from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, July 10th. Summit Insights downgraded shares of Ambarella from a "buy" rating to a "hold" rating in a research note on Friday, May 29th. Northland Securities set a $101.00 price objective on Ambarella in a report on Wednesday, June 17th. Finally, Susquehanna lifted their target price on Ambarella from $80.00 to $110.00 and gave the company a "positive" rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $101.12.
Read Our Latest Analysis on Ambarella
Insider Transactions at Ambarella
In other news, CEO Feng-Ming Wang sold 16,250 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $90.08, for a total value of $1,463,800.00. Following the completion of the sale, the chief executive officer directly owned 773,607 shares of the company's stock, valued at $69,686,518.56. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Chi-Hong Ju sold 10,000 shares of Ambarella stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $88.84, for a total value of $888,400.00. Following the transaction, the vice president owned 155,924 shares of the company's stock, valued at $13,852,288.16. This represents a 6.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 93,390 shares of company stock valued at $7,709,960. Company insiders own 4.50% of the company's stock.
About Ambarella
(
Free Report)
Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella's platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.
Ambarella's product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.
Further Reading
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