Algert Global LLC Increases Stake in Ambarella, Inc. $AMBA

Algert Global LLC raised its stake in Ambarella, Inc. (NASDAQ:AMBA) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 237,890 shares of the semiconductor company’s stock after acquiring an additional 16,527 shares during the quarter. Algert Global LLC owned approximately 0.56% of Ambarella worth $19,631,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Schonfeld Strategic Advisors LLC boosted its holdings in Ambarella by 13.4% during the third quarter. Schonfeld Strategic Advisors LLC now owns 24,347 shares of the semiconductor company’s stock worth $2,009,000 after buying an additional 2,874 shares in the last quarter. Creative Planning increased its holdings in Ambarella by 23.1% in the third quarter. Creative Planning now owns 26,554 shares of the semiconductor company’s stock valued at $2,191,000 after buying an additional 4,985 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Ambarella by 34.9% in the third quarter. Lazard Asset Management LLC now owns 13,455 shares of the semiconductor company’s stock valued at $1,110,000 after buying an additional 3,481 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of Ambarella by 369.6% in the third quarter. Raymond James Financial Inc. now owns 116,683 shares of the semiconductor company’s stock worth $9,629,000 after acquiring an additional 91,836 shares during the period. Finally, Occudo Quantitative Strategies LP raised its position in shares of Ambarella by 91.1% in the third quarter. Occudo Quantitative Strategies LP now owns 26,650 shares of the semiconductor company’s stock worth $2,199,000 after acquiring an additional 12,708 shares during the period. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMBA. Consumer Edge restated a “buy” rating on shares of Ambarella in a research report on Tuesday, February 24th. Summit Insights upgraded Ambarella from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 25th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Ambarella in a report on Wednesday, November 26th. Bank of America boosted their price objective on Ambarella from $90.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Finally, Wall Street Zen lowered Ambarella from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ambarella has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

Insider Buying and Selling at Ambarella

In other news, CFO John Alexander Young sold 3,791 shares of the stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $72.96, for a total value of $276,591.36. Following the completion of the sale, the chief financial officer directly owned 102,738 shares in the company, valued at $7,495,764.48. This represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Feng-Ming Wang sold 50,000 shares of the firm’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 transaction, the chief executive officer directly owned 768,979 shares in the company, valued at approximately $46,753,923.20. This represents a 6.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 77,685 shares of company stock valued at $5,056,598. 5.30% of the stock is owned by company insiders.

Ambarella Price Performance

Shares of Ambarella stock opened at $52.29 on Friday. The stock has a market capitalization of $2.25 billion, a P/E ratio of -29.38 and a beta of 1.95. The business has a 50 day simple moving average of $64.56 and a two-hundred day simple moving average of $75.08. Ambarella, Inc. has a 12 month low of $38.86 and a 12 month high of $96.69.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results 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 firm had revenue of $100.87 million for the quarter, compared to analyst estimates of $100.17 million. During the same period in the previous year, the company posted $0.11 earnings per share. The business’s revenue was up 20.1% on a year-over-year basis. As a group, research analysts anticipate that Ambarella, Inc. will post -2.81 EPS for the current fiscal year.

About Ambarella

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.