Wellington Management Group LLP Sells 1,497 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Wellington Management Group LLP cut its holdings in Ambarella, Inc. (NASDAQ:AMBAFree Report) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,771 shares of the semiconductor company’s stock after selling 1,497 shares during the period. Wellington Management Group LLP’s holdings in Ambarella were worth $3,700,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AMBA. US Bancorp DE increased its holdings in shares of Ambarella by 30.3% in the 1st quarter. US Bancorp DE now owns 2,605 shares of the semiconductor company’s stock worth $274,000 after buying an additional 605 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Ambarella by 5.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,715 shares of the semiconductor company’s stock worth $390,000 after buying an additional 181 shares during the last quarter. AlphaCrest Capital Management LLC increased its holdings in shares of Ambarella by 33.9% in the 1st quarter. AlphaCrest Capital Management LLC now owns 3,054 shares of the semiconductor company’s stock worth $320,000 after buying an additional 774 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Ambarella by 3.9% in the 1st quarter. Rhumbline Advisers now owns 37,241 shares of the semiconductor company’s stock worth $3,907,000 after buying an additional 1,395 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Ambarella by 14.9% in the 1st quarter. BlackRock Inc. now owns 4,028,021 shares of the semiconductor company’s stock worth $422,620,000 after buying an additional 522,698 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors.

Insider Transactions at Ambarella

In other news, COO Chan W. Lee sold 1,075 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $49.27, for a total value of $52,965.25. Following the completion of the sale, the chief operating officer now owns 124,146 shares of the company’s stock, valued at approximately $6,116,673.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Chan W. Lee sold 1,075 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $49.27, for a total value of $52,965.25. Following the completion of the sale, the chief operating officer now owns 124,146 shares of the company’s stock, valued at approximately $6,116,673.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Leslie Kohn sold 1,198 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $49.27, for a total transaction of $59,025.46. Following the sale, the chief technology officer now directly owns 964,664 shares of the company’s stock, valued at approximately $47,528,995.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,648 shares of company stock valued at $327,595. Company insiders own 5.90% of the company’s stock.

Ambarella Price Performance

Ambarella stock opened at $50.30 on Wednesday. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -11.86 and a beta of 1.68. Ambarella, Inc. has a 1 year low of $43.59 and a 1 year high of $89.18. The firm has a 50-day moving average of $54.19 and a two-hundred day moving average of $54.77.

Ambarella (NASDAQ:AMBAGet Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The semiconductor company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.03. Ambarella had a negative net margin of 74.81% and a negative return on equity of 23.38%. The firm had revenue of $51.62 million during the quarter, compared to analysts’ expectations of $51.68 million. Research analysts expect that Ambarella, Inc. will post -3.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Ambarella in a report on Wednesday, February 28th. StockNews.com upgraded shares of Ambarella to a “sell” rating in a report on Friday, February 2nd. Susquehanna upped their price target on shares of Ambarella from $70.00 to $80.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Morgan Stanley upped their price target on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price target on shares of Ambarella in a report on Wednesday, December 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Ambarella has an average rating of “Moderate Buy” and a consensus price target of $73.54.

View Our Latest Analysis on Ambarella

About Ambarella

(Free Report)

Ambarella, Inc develops semiconductor solutions 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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