Alps Advisors Inc. Takes $264,000 Position in Ambarella Inc (AMBA)

Alps Advisors Inc. purchased a new position in shares of Ambarella Inc (NASDAQ:AMBA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,836 shares of the semiconductor company’s stock, valued at approximately $264,000.

A number of other large investors have also added to or reduced their stakes in the stock. State of Tennessee Treasury Department increased its holdings in Ambarella by 9.5% in the 1st quarter. State of Tennessee Treasury Department now owns 630,000 shares of the semiconductor company’s stock valued at $30,864,000 after buying an additional 54,700 shares during the period. Artisan Partners Limited Partnership increased its holdings in Ambarella by 12.3% in the 1st quarter. Artisan Partners Limited Partnership now owns 450,312 shares of the semiconductor company’s stock valued at $22,061,000 after buying an additional 49,225 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Ambarella by 23.3% in the 2nd quarter. Baillie Gifford & Co. now owns 326,847 shares of the semiconductor company’s stock valued at $12,620,000 after purchasing an additional 61,762 shares in the last quarter. Tributary Capital Management LLC boosted its stake in shares of Ambarella by 9.7% in the 2nd quarter. Tributary Capital Management LLC now owns 304,874 shares of the semiconductor company’s stock valued at $11,771,000 after purchasing an additional 27,015 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Ambarella by 75.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 303,351 shares of the semiconductor company’s stock valued at $14,861,000 after purchasing an additional 130,586 shares in the last quarter. 70.31% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on AMBA. BidaskClub upgraded shares of Ambarella from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 29th. ValuEngine downgraded shares of Ambarella from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of Ambarella from a “hold” rating to a “sell” rating in a research note on Monday, June 11th. Dougherty & Co reduced their price target on shares of Ambarella from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, August 31st. Finally, Bank of America began coverage on shares of Ambarella in a research note on Tuesday, July 17th. They issued a “neutral” rating and a $42.00 price target on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $52.15.

In related news, EVP George Laplante sold 4,016 shares of Ambarella stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $35.53, for a total transaction of $142,688.48. Following the sale, the executive vice president now directly owns 100,002 shares in the company, valued at approximately $3,553,071.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Leslie Kohn sold 6,799 shares of Ambarella stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $35.46, for a total transaction of $241,092.54. Following the sale, the insider now owns 916,795 shares in the company, valued at $32,509,550.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,609 shares of company stock worth $1,628,876. 5.84% of the stock is owned by corporate insiders.

NASDAQ:AMBA traded down $1.30 during mid-day trading on Friday, hitting $35.08. 1,175,007 shares of the company’s stock were exchanged, compared to its average volume of 1,073,868. Ambarella Inc has a fifty-two week low of $34.33 and a fifty-two week high of $66.23. The company has a market cap of $1.24 billion, a PE ratio of 63.78 and a beta of 1.06.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Thursday, August 30th. The semiconductor company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.13 by $0.12. Ambarella had a negative net margin of 1.40% and a negative return on equity of 0.71%. The business had revenue of $62.47 million for the quarter, compared to the consensus estimate of $62.27 million. On average, equities analysts predict that Ambarella Inc will post -0.84 earnings per share for the current fiscal year.

Ambarella Company Profile

Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.

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Institutional Ownership by Quarter for Ambarella (NASDAQ:AMBA)

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