Granite Investment Partners LLC Has $2.28 Million Stake in Ambarella, Inc. $AMBA

Key Points

• Granite Investment Partners increased its Ambarella stake by 59.3% in the first quarter, ending with 44,240 shares worth about $2.28 million.
• Institutional interest in AMBA remains high, with hedge funds and other investors owning 82.09% of the company’s shares after several firms raised or initiated positions.
• Analysts are mixed on Ambarella: the stock has a Moderate Buy consensus with an average target price of $101.12, while recent insider sales included 87,432 shares sold over the past three months.

Granite Investment Partners LLC raised its position in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 59.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,240 shares of the semiconductor company's stock after purchasing an additional 16,471 shares during the quarter. Granite Investment Partners LLC owned 0.10% of Ambarella worth $2,277,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AMBA. Greenwood Capital Associates LLC raised its holdings in Ambarella by 46.9% in the 1st quarter. Greenwood Capital Associates LLC now owns 8,986 shares of the semiconductor company's stock valued at $463,000 after buying an additional 2,870 shares during the last quarter. Stephens Inc. AR grew its holdings in Ambarella by 13.3% during the 1st quarter. Stephens Inc. AR now owns 4,375 shares of the semiconductor company's stock worth $225,000 after acquiring an additional 515 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Ambarella in the 1st quarter valued at approximately $548,000. Y Intercept Hong Kong Ltd raised its stake in shares of Ambarella by 0.6% during the first quarter. Y Intercept Hong Kong Ltd now owns 43,068 shares of the semiconductor company's stock valued at $2,217,000 after acquiring an additional 264 shares during the last quarter. Finally, Impact Partnership Wealth LLC raised its stake in shares of Ambarella by 35.0% during the first quarter. Impact Partnership Wealth LLC now owns 5,336 shares of the semiconductor company's stock valued at $275,000 after acquiring an additional 1,382 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMBA. Stifel Nicolaus set a $106.00 price objective on shares of Ambarella in a research note on Friday, May 29th. Consumer Edge reaffirmed a "buy" rating on shares of Ambarella in a report on Friday, May 22nd. Summit Insights lowered Ambarella from a "buy" rating to a "hold" rating in a research report on Friday, May 29th. Weiss Ratings reissued a "sell (e+)" rating on shares of Ambarella in a research note on Friday, June 26th. Finally, Rosenblatt Securities raised their price objective on Ambarella from $115.00 to $120.00 in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $101.12.

Ambarella Stock Performance

NASDAQ:AMBA opened at $78.38 on Friday. Ambarella, Inc. has a 52 week low of $48.30 and a 52 week high of $96.69. The firm's fifty day moving average is $74.95 and its 200-day moving average is $66.63. The firm has a market cap of $3.44 billion, a P/E ratio of -48.68 and a beta of 2.11.

Ambarella (NASDAQ:AMBA - Get Free Report) last announced its earnings results on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share for the quarter, hitting analysts' consensus estimates of $0.11. The business had revenue of $100.36 million during the quarter, compared to the consensus estimate of $100.12 million. Ambarella had a negative net margin of 17.18% and a negative return on equity of 10.94%. Ambarella's quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share. As a group, sell-side analysts anticipate that Ambarella, Inc. will post -1.13 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Chi-Hong Ju sold 10,000 shares of the company's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $88.84, for a total transaction of $888,400.00. Following the sale, the vice president owned 155,924 shares in the company, valued at $13,852,288.16. This represents a 6.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Yun-Lung Chen sold 9,856 shares of Ambarella stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $67.06, for a total value of $660,943.36. Following the completion of the sale, the vice president owned 66,515 shares of the company's stock, valued at approximately $4,460,495.90. The trade was a 12.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 87,432 shares of company stock worth $7,241,303 over the last three months. Insiders own 4.50% of the company's stock.

Ambarella Company Profile

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.

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