Strs Ohio Trims Stake in Ambarella, Inc. (NASDAQ:AMBA)

Strs Ohio reduced its stake in Ambarella, Inc. (NASDAQ:AMBA) by 12.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,300 shares of the semiconductor company’s stock after selling 2,100 shares during the period. Strs Ohio’s holdings in Ambarella were worth $876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AMBA. Assenagon Asset Management S.A. raised its position in shares of Ambarella by 1,276.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 403,197 shares of the semiconductor company’s stock worth $24,712,000 after acquiring an additional 373,915 shares in the last quarter. Rokos Capital Management LLP lifted its position in Ambarella by 121.0% during the third quarter. Rokos Capital Management LLP now owns 649,574 shares of the semiconductor company’s stock valued at $34,626,000 after buying an additional 355,689 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Ambarella by 3.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,022,670 shares of the semiconductor company’s stock valued at $213,322,000 after buying an additional 139,767 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Ambarella by 31.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 429,892 shares of the semiconductor company’s stock worth $22,797,000 after buying an additional 103,978 shares during the period. Finally, Freemont Management S.A. increased its stake in shares of Ambarella by 1,887.0% in the 3rd quarter. Freemont Management S.A. now owns 107,300 shares of the semiconductor company’s stock worth $5,690,000 after acquiring an additional 101,900 shares in the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Ambarella Stock Up 3.2 %

Shares of NASDAQ AMBA opened at $42.56 on Thursday. The firm’s 50-day moving average price is $50.87 and its 200-day moving average price is $53.64. Ambarella, Inc. has a 52-week low of $40.31 and a 52-week high of $89.18. The company has a market cap of $1.74 billion, a PE ratio of -10.04 and a beta of 1.66.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Tuesday, February 27th. The semiconductor company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.98) by $0.03. The company had revenue of $51.62 million for the quarter, compared to analysts’ expectations of $51.68 million. Ambarella had a negative net margin of 74.81% and a negative return on equity of 23.78%. As a group, equities research analysts anticipate that Ambarella, Inc. will post -3.53 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com raised Ambarella to a “sell” rating in a research report on Saturday, April 13th. Morgan Stanley increased their target price on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Wells Fargo & Company lowered Ambarella from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $85.00 to $65.00 in a research report on Wednesday, January 3rd. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Ambarella in a research report on Wednesday, February 28th. Finally, Bank of America decreased their target price on shares of Ambarella from $62.00 to $50.00 and set an “underperform” rating for the company in a report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $71.08.

Insider Transactions at Ambarella

In related news, COO Chan W. Lee sold 1,075 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $49.27, for a total transaction of $52,965.25. Following the completion of the sale, the chief operating officer now owns 124,146 shares in the company, valued at $6,116,673.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Chan W. Lee sold 1,075 shares of the business’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 transaction of $52,965.25. Following the completion of the sale, the chief operating officer now directly owns 124,146 shares in the company, valued at $6,116,673.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Leslie Kohn sold 1,198 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $49.27, for a total transaction of $59,025.46. Following the completion of the transaction, the chief technology officer now owns 964,664 shares in the company, valued at $47,528,995.28. The disclosure for this sale can be found here. Insiders have sold a total of 6,648 shares of company stock worth $327,595 in the last ninety days. Insiders own 5.90% of the company’s stock.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence 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.