Ambarella, Inc. $AMBA Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. trimmed its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA) by 54.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,548 shares of the semiconductor company’s stock after selling 19,437 shares during the period. Edgestream Partners L.P.’s holdings in Ambarella were worth $1,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Advisors Asset Management Inc. increased its holdings in shares of Ambarella by 44.1% in the 1st quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 286 shares during the last quarter. Virtus Advisers LLC acquired a new position in Ambarella in the second quarter valued at approximately $49,000. Banque Transatlantique SA purchased a new position in Ambarella in the first quarter valued at approximately $50,000. Johnson Financial Group Inc. acquired a new stake in Ambarella during the second quarter worth approximately $67,000. Finally, Quarry LP lifted its position in shares of Ambarella by 611.5% during the 1st quarter. Quarry LP now owns 1,793 shares of the semiconductor company’s stock worth $90,000 after buying an additional 1,541 shares during the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.

Ambarella Stock Performance

Shares of AMBA opened at $74.10 on Friday. Ambarella, Inc. has a fifty-two week low of $38.86 and a fifty-two week high of $96.69. The firm has a 50-day simple moving average of $83.31 and a 200-day simple moving average of $73.11. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of -39.41 and a beta of 1.98.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.21 by $0.06. Ambarella had a negative return on equity of 13.14% and a negative net margin of 21.31%.The firm had revenue of $108.45 million during the quarter, compared to the consensus estimate of $104.11 million. During the same period in the prior year, the business earned $0.11 EPS. The firm’s revenue was up 31.2% compared to the same quarter last year. Equities research analysts forecast that Ambarella, Inc. will post -2.81 EPS for the current year.

Insider Activity

In other news, Director Elizabeth M. Schwarting sold 2,664 shares of the firm’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $85.38, for a total value of $227,452.32. Following the completion of the sale, the director owned 7,314 shares in the company, valued at approximately $624,469.32. This trade represents a 26.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Chan W. Lee sold 1,947 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $79.43, for a total transaction of $154,650.21. Following the transaction, the chief operating officer owned 126,972 shares in the company, valued at approximately $10,085,385.96. This trade represents a 1.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 35,227 shares of company stock valued at $2,875,131. 5.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Ambarella in a research report on Wednesday, November 26th. Morgan Stanley upped their price objective on shares of Ambarella from $80.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, August 29th. Wall Street Zen upgraded Ambarella from a “hold” rating to a “buy” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $80.00 target price on shares of Ambarella in a report on Wednesday, November 26th. Finally, Rosenblatt Securities raised their price target on Ambarella from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.00.

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.