Ambarella, Inc. (NASDAQ:AMBA) Shares Sold by Algert Global LLC

Algert Global LLC cut its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,905 shares of the semiconductor company’s stock after selling 2,288 shares during the quarter. Algert Global LLC owned approximately 0.13% of Ambarella worth $2,908,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMBA. Stifel Nicolaus increased their price target on shares of Ambarella from $75.00 to $80.00 and gave the stock 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 report on Wednesday, August 28th. Westpark Capital reiterated a “buy” rating and issued a $85.00 target price on shares of Ambarella in a report on Monday, August 26th. Bank of America upped their price target on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Finally, Roth Mkm reissued a “neutral” rating and set a $60.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Ambarella presently has an average rating of “Hold” and an average price target of $75.00.

Ambarella Stock Down 3.9 %

AMBA opened at $54.22 on Wednesday. Ambarella, Inc. has a 52-week low of $39.69 and a 52-week high of $65.88. The firm has a market capitalization of $2.22 billion, a P/E ratio of -12.73 and a beta of 1.63. The firm’s 50 day moving average is $51.47 and its 200-day moving average is $51.48.

Ambarella (NASDAQ:AMBA) last released its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. The company had revenue of $63.70 million during the quarter, compared to analysts’ expectations 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 was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.76) EPS. Equities analysts expect that Ambarella, Inc. will post -3 earnings per share for the current fiscal year.

Insider Transactions at Ambarella

In other Ambarella news, Director Elizabeth M. Schwarting sold 913 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $54.74, for a total transaction of $49,977.62. Following the sale, the director now owns 8,155 shares in the company, valued at $446,404.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Ambarella news, Director Elizabeth M. Schwarting sold 913 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $54.74, for a total transaction of $49,977.62. Following the sale, the director now directly owns 8,155 shares of the company’s stock, valued at $446,404.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher Day sold 483 shares of Ambarella stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $25,859.82. Following the completion of the transaction, the vice president now directly owns 21,370 shares of the company’s stock, valued at $1,144,149.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,927 shares of company stock valued at $1,274,788. Insiders own 5.70% of the company’s stock.

Ambarella Company 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.