Hsbc Holdings PLC Increases Stock Position in Ambarella, Inc. (NASDAQ:AMBA)

Hsbc Holdings PLC lifted its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 31.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,830 shares of the semiconductor company’s stock after acquiring an additional 6,621 shares during the quarter. Hsbc Holdings PLC owned 0.07% of Ambarella worth $1,483,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AMBA. Meeder Asset Management Inc. purchased a new stake in shares of Ambarella during the 2nd quarter worth approximately $26,000. CWM LLC boosted its stake in shares of Ambarella by 127.7% during the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 304 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Ambarella by 62.1% during the 2nd quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock worth $78,000 after acquiring an additional 552 shares in the last quarter. Larson Financial Group LLC lifted its stake in Ambarella by 13,576.9% in the 1st quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock valued at $90,000 after buying an additional 1,765 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Ambarella in the 1st quarter valued at approximately $205,000. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Ambarella Stock Down 1.1 %

AMBA stock opened at $56.44 on Friday. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -13.25 and a beta of 1.63. The business has a fifty day simple moving average of $51.51 and a 200-day simple moving average of $51.48. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $65.88.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.76) EPS. As a group, analysts expect that Ambarella, Inc. will post -3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Morgan Stanley upped their target price on Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Craig Hallum upped their target price on Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. Wells Fargo & Company reduced their target price on Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, May 31st. Finally, Westpark Capital reiterated a “buy” rating and issued a $85.00 price target on shares of Ambarella in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $75.00.

Insider Buying and Selling

In related news, COO Chan W. Lee sold 1,490 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $79,774.60. Following the completion of the sale, the chief operating officer now directly owns 121,406 shares of the company’s stock, valued at approximately $6,500,077.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Yun-Lung Chen sold 5,963 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total transaction of $343,230.28. Following the completion of the sale, the vice president now directly owns 62,026 shares of the company’s stock, valued at approximately $3,570,216.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Chan W. Lee sold 1,490 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $79,774.60. Following the completion of the transaction, the chief operating officer now directly owns 121,406 shares of the company’s stock, valued at $6,500,077.24. The disclosure for this sale can be found here. In the last three months, insiders sold 22,927 shares of company stock valued at $1,274,788. Company insiders own 5.70% of the company’s stock.

Ambarella Profile

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.