The Manufacturers Life Insurance Company Raises Holdings in Ambarella, Inc. (NASDAQ:AMBA)

The Manufacturers Life Insurance Company raised its holdings in Ambarella, Inc. (NASDAQ:AMBA) by 4.8% during the third quarter, Holdings Channel.com reports. The firm owned 1,353,287 shares of the semiconductor company’s stock after purchasing an additional 61,387 shares during the period. The Manufacturers Life Insurance Company’s holdings in Ambarella were worth $76,332,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Ambarella by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock valued at $220,384,000 after acquiring an additional 248,297 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Ambarella by 7.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,575 shares of the semiconductor company’s stock worth $1,045,000 after purchasing an additional 1,502 shares in the last quarter. Virtu Financial LLC boosted its position in shares of Ambarella by 134.2% during the first quarter. Virtu Financial LLC now owns 13,837 shares of the semiconductor company’s stock worth $702,000 after buying an additional 7,928 shares during the period. CWM LLC grew its stake in shares of Ambarella by 127.7% in the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 304 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its holdings in shares of Ambarella by 1.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock valued at $945,000 after buying an additional 288 shares during the period. Institutional investors and hedge funds own 82.09% of the company’s stock.

Ambarella Stock Performance

NASDAQ:AMBA opened at $72.44 on Thursday. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $81.32. The stock has a market cap of $2.99 billion, a P/E ratio of -16.77 and a beta of 1.63. The stock has a 50-day simple moving average of $58.23 and a 200-day simple moving average of $54.89.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. The company had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.76) earnings per share. On average, equities research analysts predict that Ambarella, Inc. will post -3 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Northland Securities restated an “outperform” rating and set a $95.00 target price (up from $75.00) on shares of Ambarella in a report on Wednesday. TD Cowen raised their price objective on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Morgan Stanley upped their target price on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday. Stifel Nicolaus raised their price target on shares of Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Susquehanna boosted their price target on shares of Ambarella from $70.00 to $85.00 and gave the stock a “positive” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $81.67.

Insider Activity

In other news, COO Chan W. Lee sold 1,490 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $79,774.60. Following the transaction, the chief operating officer now directly owns 121,406 shares in the company, valued at approximately $6,500,077.24. This trade represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John Alexander Young sold 2,139 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $114,522.06. Following the completion of the sale, the chief financial officer now owns 103,529 shares of the company’s stock, valued at approximately $5,542,942.66. This trade represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,423 shares of company stock worth $1,356,402. Corporate insiders own 5.70% of the company’s stock.

Ambarella Profile

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.