Ambarella, Inc. $AMBA Stock Position Reduced by Citigroup Inc.

Citigroup Inc. decreased its position in Ambarella, Inc. (NASDAQ:AMBA) by 52.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,934 shares of the semiconductor company’s stock after selling 25,722 shares during the quarter. Citigroup Inc. owned 0.05% of Ambarella worth $1,893,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stephens Inc. AR lifted its stake in Ambarella by 3.7% during the third quarter. Stephens Inc. AR now owns 3,804 shares of the semiconductor company’s stock worth $314,000 after purchasing an additional 137 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Ambarella by 3.2% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,537 shares of the semiconductor company’s stock worth $374,000 after purchasing an additional 142 shares during the period. Arizona State Retirement System increased its stake in Ambarella by 1.3% during the third quarter. Arizona State Retirement System now owns 11,899 shares of the semiconductor company’s stock valued at $982,000 after purchasing an additional 157 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Ambarella by 4.9% during the second quarter. Ameritas Investment Partners Inc. now owns 4,160 shares of the semiconductor company’s stock valued at $275,000 after purchasing an additional 196 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Ambarella by 21.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,134 shares of the semiconductor company’s stock worth $75,000 after buying an additional 199 shares during the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ambarella in a report on Wednesday, January 21st. Wall Street Zen lowered Ambarella from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Ambarella in a research note on Wednesday, November 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $80.00 target price on shares of Ambarella in a research report on Wednesday, November 26th. Finally, Consumer Edge reissued a “buy” rating on shares of Ambarella in a report on Tuesday, February 24th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Ambarella presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

Insider Activity at Ambarella

In other news, insider Chan W. Lee sold 2,406 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $71.82, for a total value of $172,798.92. Following the completion of the sale, the insider owned 124,566 shares in the company, valued at $8,946,330.12. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Feng-Ming Wang sold 50,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $60.80, for a total transaction of $3,040,000.00. Following the completion of the sale, the chief executive officer owned 768,979 shares in the company, valued at approximately $46,753,923.20. This trade represents a 6.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 77,685 shares of company stock worth $5,056,598 in the last three months. Insiders own 5.70% of the company’s stock.

Ambarella Trading Down 5.5%

AMBA opened at $52.38 on Monday. The business’s 50 day moving average is $66.38 and its 200-day moving average is $75.70. The stock has a market cap of $2.25 billion, a PE ratio of -29.43 and a beta of 1.95. Ambarella, Inc. has a twelve month low of $38.86 and a twelve month high of $96.69.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Thursday, February 26th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Ambarella had a negative return on equity of 12.24% and a negative net margin of 19.42%.The business had revenue of $100.87 million during the quarter, compared to analyst estimates of $100.17 million. During the same period in the prior year, the company posted $0.11 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, analysts forecast that Ambarella, Inc. will post -2.81 EPS for the current year.

Ambarella Profile

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.