Mirae Asset Global Investments Co. Ltd. Reduces Position in Ambarella, Inc. (NASDAQ:AMBA)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in shares of Ambarella, Inc. (NASDAQ:AMBAGet Rating) by 19.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,004 shares of the semiconductor company’s stock after selling 45,878 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.51% of Ambarella worth $20,249,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in Ambarella by 61.9% during the 1st quarter. American Century Companies Inc. now owns 103,135 shares of the semiconductor company’s stock valued at $10,821,000 after acquiring an additional 39,419 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in Ambarella in the 1st quarter valued at about $8,046,000. O Shaughnessy Asset Management LLC boosted its holdings in Ambarella by 215.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,864 shares of the semiconductor company’s stock valued at $378,000 after purchasing an additional 1,274 shares during the last quarter. First Community Trust NA acquired a new position in Ambarella in the 4th quarter valued at about $1,922,000. Finally, Eaton Vance Management boosted its holdings in Ambarella by 2.7% in the 4th quarter. Eaton Vance Management now owns 413,931 shares of the semiconductor company’s stock valued at $83,983,000 after purchasing an additional 10,928 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Ambarella Trading Down 0.5 %

Shares of NASDAQ:AMBA opened at $64.93 on Friday. Ambarella, Inc. has a 52 week low of $60.50 and a 52 week high of $227.59. The company’s 50 day moving average is $77.51 and its two-hundred day moving average is $81.05. The company has a market cap of $2.49 billion, a PE ratio of -56.96 and a beta of 1.52.

Ambarella (NASDAQ:AMBAGet Rating) last announced its quarterly earnings data on Tuesday, August 30th. The semiconductor company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Ambarella had a negative net margin of 12.14% and a negative return on equity of 6.88%. The company had revenue of $80.90 million for the quarter, compared to the consensus estimate of $80.21 million. During the same period in the prior year, the firm posted ($0.18) EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts expect that Ambarella, Inc. will post -1.51 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Robert W. Baird decreased their target price on shares of Ambarella from $125.00 to $90.00 and set an “outperform” rating on the stock in a report on Wednesday, August 31st. Wells Fargo & Company decreased their target price on shares of Ambarella to $105.00 in a report on Tuesday, September 6th. Summit Insights lowered shares of Ambarella from a “buy” rating to a “hold” rating in a report on Wednesday, August 31st. Jefferies Financial Group decreased their price objective on shares of Ambarella from $160.00 to $136.00 in a report on Friday, May 27th. Finally, KeyCorp decreased their price objective on shares of Ambarella from $120.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, August 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $125.13.

Ambarella Company Profile

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Ambarella, Inc develops semiconductor solutions for video that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network 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.

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Institutional Ownership by Quarter for Ambarella (NASDAQ:AMBA)

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