Arizona State Retirement System Raises Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Arizona State Retirement System increased its holdings in Ambarella, Inc. (NASDAQ:AMBAGet Rating) by 1.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 9,911 shares of the semiconductor company’s stock after acquiring an additional 147 shares during the period. Arizona State Retirement System’s holdings in Ambarella were worth $1,040,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its holdings in Ambarella by 27.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 11,276 shares of the semiconductor company’s stock valued at $2,288,000 after purchasing an additional 2,461 shares during the period. Baird Financial Group Inc. purchased a new stake in shares of Ambarella in the 4th quarter valued at about $1,023,000. Profund Advisors LLC purchased a new stake in shares of Ambarella in the 4th quarter valued at about $243,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Ambarella in the 1st quarter valued at about $8,046,000. Finally, O Shaughnessy Asset Management LLC increased its position in Ambarella by 215.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,864 shares of the semiconductor company’s stock valued at $378,000 after acquiring an additional 1,274 shares during the period. 75.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ambarella

In other Ambarella news, CEO Feng-Ming Wang sold 3,937 shares of the business’s stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $66.26, for a total value of $260,865.62. Following the transaction, the chief executive officer now directly owns 689,918 shares in the company, valued at $45,713,966.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Feng-Ming Wang sold 3,937 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $66.26, for a total transaction of $260,865.62. Following the transaction, the chief executive officer now directly owns 689,918 shares in the company, valued at $45,713,966.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher Day sold 704 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $66.27, for a total transaction of $46,654.08. Following the transaction, the vice president now owns 19,954 shares in the company, valued at $1,322,351.58. The disclosure for this sale can be found here. Insiders have sold a total of 10,297 shares of company stock valued at $688,055 over the last quarter. 6.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on AMBA. Rosenblatt Securities dropped their price target on Ambarella from $200.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, June 1st. Cowen reduced their target price on Ambarella from $180.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 1st. Morgan Stanley reduced their target price on Ambarella from $164.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 31st. Craig Hallum reduced their price target on Ambarella from $170.00 to $100.00 in a research note on Wednesday, June 1st. Finally, Needham & Company LLC dropped their price objective on Ambarella from $175.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, June 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Ambarella currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.20.

Ambarella Price Performance

Shares of AMBA opened at $87.17 on Wednesday. The company’s fifty day moving average price is $74.26 and its 200 day moving average price is $94.44. Ambarella, Inc. has a one year low of $60.56 and a one year high of $227.59. The company has a market capitalization of $3.32 billion, a PE ratio of -121.07 and a beta of 1.46.

Ambarella (NASDAQ:AMBAGet Rating) last posted its quarterly earnings data on Tuesday, May 31st. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.07. The company had revenue of $90.31 million for the quarter, compared to the consensus estimate of $90.09 million. Ambarella had a negative net margin of 7.50% and a negative return on equity of 4.69%. The business’s revenue was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.29) EPS. Analysts anticipate that Ambarella, Inc. will post -1.33 earnings per share for the current year.

Ambarella Profile

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Ambarella, Inc develops semiconductor solutions for video that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network 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.

Further Reading

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Institutional Ownership by Quarter for Ambarella (NASDAQ:AMBA)

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