Handelsbanken Fonder AB Raises Stake in Ambarella, Inc. $AMBA

Key Points

• Handelsbanken Fonder AB increased its Ambarella stake by 84% in the fourth quarter, buying 142,551 additional shares and bringing its total holding to 312,326 shares worth about $22.1 million.
• Ambarella reported better-than-expected quarterly results, with EPS of $0.13 versus $0.10 expected and revenue of $100.87 million, up 20.1% year over year.
• Analysts remain generally positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $96, while insiders have sold shares in recent months.

Handelsbanken Fonder AB boosted its position in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 84.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,326 shares of the semiconductor company's stock after buying an additional 142,551 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.73% of Ambarella worth $22,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of AMBA. EverSource Wealth Advisors LLC boosted its stake in Ambarella by 362.2% in the second quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company's stock worth $27,000 after buying an additional 326 shares in the last quarter. Advisory Services Network LLC bought a new stake in Ambarella in the third quarter valued at approximately $33,000. Advisors Asset Management Inc. lifted its position in 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. Flagship Harbor Advisors LLC bought a new stake in Ambarella in the fourth quarter valued at approximately $48,000. Finally, Rothschild Investment LLC lifted its position in Ambarella by 78.1% in the third quarter. Rothschild Investment LLC now owns 641 shares of the semiconductor company's stock valued at $53,000 after purchasing an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 82.09% of the company's stock.

Ambarella Stock Performance

Shares of AMBA stock opened at $83.00 on Thursday. The company has a market capitalization of $3.64 billion, a P/E ratio of -46.63 and a beta of 2.17. The stock has a 50 day moving average price of $61.16 and a two-hundred day moving average price of $68.31. Ambarella, Inc. has a fifty-two week low of $48.30 and a fifty-two week high of $96.69.

Ambarella (NASDAQ:AMBA - Get Free Report) last announced its earnings results on Thursday, February 26th. The semiconductor company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.03. The company had revenue of $100.87 million during the quarter, compared to the consensus estimate of $100.17 million. Ambarella had a negative return on equity of 12.16% and a negative net margin of 19.42%.The firm's revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. As a group, equities analysts predict that Ambarella, Inc. will post -1.27 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on AMBA. Rosenblatt Securities reiterated a "buy" rating and issued a $115.00 price objective on shares of Ambarella in a research report on Monday, March 23rd. Consumer Edge reiterated a "buy" rating on shares of Ambarella in a research report on Tuesday, February 24th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Ambarella in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Ambarella has a consensus rating of "Moderate Buy" and a consensus price target of $96.00.

Insiders Place Their Bets

In related news, insider Chan W. Lee sold 6,729 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $52.77, for a total transaction of $355,089.33. Following the completion of the transaction, the insider owned 156,370 shares in the company, valued at $8,251,644.90. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John Alexander Young sold 4,577 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $52.77, for a total value of $241,528.29. Following the transaction, the chief financial officer owned 117,072 shares of the company's stock, valued at approximately $6,177,889.44. This represents a 3.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 103,899 shares of company stock worth $5,921,677 in the last ninety days. Insiders own 5.30% 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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