SteelPeak Wealth LLC Takes $491,000 Position in Ambarella, Inc. (NASDAQ:AMBA)

SteelPeak Wealth LLC acquired a new stake in Ambarella, Inc. (NASDAQ:AMBA) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,665 shares of the semiconductor company’s stock, valued at approximately $491,000.

A number of other hedge funds also recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. lifted its position in shares of Ambarella by 79.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 10,272 shares of the semiconductor company’s stock valued at $522,000 after buying an additional 4,555 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Ambarella during the first quarter worth approximately $277,000. Vanguard Group Inc. increased its stake in shares of Ambarella by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 4,092,534 shares of the semiconductor company’s stock worth $250,831,000 after purchasing an additional 69,864 shares during the period. Neo Ivy Capital Management bought a new position in shares of Ambarella during the fourth quarter worth approximately $239,000. Finally, First National Bank of Omaha increased its stake in shares of Ambarella by 2.8% during the fourth quarter. First National Bank of Omaha now owns 29,660 shares of the semiconductor company’s stock worth $1,818,000 after purchasing an additional 818 shares during the period. 82.09% of the stock is owned by institutional investors and hedge funds.

Ambarella Stock Up 1.0 %

Shares of AMBA traded up $0.56 during midday trading on Friday, hitting $53.95. The company’s stock had a trading volume of 863,945 shares, compared to its average volume of 742,100. Ambarella, Inc. has a one year low of $40.31 and a one year high of $85.09. The company’s fifty day simple moving average is $50.65 and its two-hundred day simple moving average is $53.08. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -12.66 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Thursday, May 30th. The semiconductor company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.98) by $0.09. Ambarella had a negative return on equity of 24.86% and a negative net margin of 78.36%. The company had revenue of $54.47 million for the quarter, compared to analyst estimates of $54.04 million. On average, research analysts predict that Ambarella, Inc. will post -3.35 earnings per share for the current year.

Insider Activity at Ambarella

In related news, VP Chi-Hong Ju sold 8,900 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $55.53, for a total transaction of $494,217.00. Following the sale, the vice president now owns 179,193 shares of the company’s stock, valued at approximately $9,950,587.29. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 19,091 shares of company stock valued at $1,050,969 in the last 90 days. 5.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AMBA shares. Roth Mkm lowered their target price on Ambarella from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Ambarella in a research note on Friday, May 31st. StockNews.com upgraded Ambarella to a “sell” rating in a research note on Friday, April 26th. Wells Fargo & Company lowered their target price on Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, May 31st. Finally, Bank of America lowered their price objective on Ambarella from $62.00 to $50.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $69.75.

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.