Hawk Ridge Capital Management LP Makes New $14.21 Million Investment in Ambarella, Inc. $AMBA

Hawk Ridge Capital Management LP purchased a new position in shares of Ambarella, Inc. (NASDAQ:AMBA) during the first quarter, Holdings Channel.com reports. The fund purchased 276,100 shares of the semiconductor company’s stock, valued at approximately $14,212,000.

Several other hedge funds have also recently modified their holdings of the stock. Lazard Asset Management LLC boosted its stake in Ambarella by 1.7% in the 1st quarter. Lazard Asset Management LLC now owns 14,069 shares of the semiconductor company’s stock worth $724,000 after purchasing an additional 234 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Ambarella during the 1st quarter valued at approximately $10,264,000. Gamco Investors INC. ET AL increased its stake in Ambarella by 21.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 9,854 shares of the semiconductor company’s stock valued at $507,000 after purchasing an additional 1,707 shares in the last quarter. Inceptionr LLC purchased a new position in shares of Ambarella in the first quarter worth $290,000. Finally, Sei Investments Co. raised its holdings in shares of Ambarella by 38.4% in the first quarter. Sei Investments Co. now owns 89,139 shares of the semiconductor company’s stock worth $4,588,000 after buying an additional 24,711 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

Insider Buying and Selling at Ambarella

In other news, CFO John Alexander Young sold 5,033 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $67.54, for a total value of $339,928.82. Following the completion of the sale, the chief financial officer directly owned 112,590 shares in the company, valued at $7,604,328.60. This represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Yun-Lung Chen sold 9,856 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $67.06, for a total value of $660,943.36. Following the completion of the sale, the vice president directly owned 66,515 shares of the company’s stock, valued at $4,460,495.90. This trade represents a 12.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 91,419 shares of company stock worth $7,591,700. 4.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Ambarella from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 10th. Stifel Nicolaus set a $106.00 price objective on shares of Ambarella in a research note on Friday, May 29th. Summit Insights downgraded shares of Ambarella from a “buy” rating to a “hold” rating in a report on Friday, May 29th. Consumer Edge reissued a “buy” rating on shares of Ambarella in a report on Friday, May 22nd. Finally, Bank of America boosted their target price on shares of Ambarella from $72.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.12.

Ambarella Stock Up 0.2%

AMBA stock opened at $68.23 on Tuesday. Ambarella, Inc. has a 52 week low of $48.30 and a 52 week high of $96.69. The firm has a 50-day simple moving average of $73.21 and a 200-day simple moving average of $66.31. The stock has a market capitalization of $2.99 billion, a P/E ratio of -42.38 and a beta of 2.11.

Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $100.36 million for the quarter, compared to the consensus estimate of $100.12 million. Ambarella had a negative return on equity of 10.94% and a negative net margin of 17.18%.The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share. On average, analysts expect that Ambarella, Inc. will post -1.13 earnings per share for the current year.

Ambarella Profile

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.