Dalton Investments LLC held its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,400 shares of the semiconductor company’s stock at the close of the second quarter. Ambarella accounts for 0.9% of Dalton Investments LLC’s holdings, making the stock its 16th biggest holding. Dalton Investments LLC owned approximately 0.14% of Ambarella worth $2,301,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Ambarella by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 2,084,839 shares of the semiconductor company’s stock valued at $114,061,000 after acquiring an additional 104,382 shares in the last quarter. Van Berkom & Associates Inc. lifted its stake in Ambarella by 22.7% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,235,483 shares of the semiconductor company’s stock valued at $59,983,000 after acquiring an additional 228,740 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Ambarella by 36.2% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,152,405 shares of the semiconductor company’s stock valued at $55,949,000 after acquiring an additional 306,248 shares in the last quarter. AXA lifted its stake in Ambarella by 100.6% in the 2nd quarter. AXA now owns 708,106 shares of the semiconductor company’s stock valued at $34,379,000 after acquiring an additional 355,170 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its stake in Ambarella by 44.9% in the 1st quarter. Pinnacle Associates Ltd. now owns 679,192 shares of the semiconductor company’s stock valued at $37,159,000 after acquiring an additional 210,558 shares in the last quarter. Institutional investors and hedge funds own 57.06% of the company’s stock.
Several equities research analysts have commented on AMBA shares. Zacks Investment Research upgraded Ambarella from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Roth Capital cut Ambarella from a “buy” rating to a “neutral” rating and cut their target price for the company from $65.00 to $50.00 in a research note on Friday, September 1st. Dougherty & Co dropped their price objective on Ambarella from $75.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, September 1st. Deutsche Bank AG reiterated a “hold” rating and set a $49.00 price objective (down previously from $54.00) on shares of Ambarella in a research note on Friday, September 1st. Finally, TheStreet cut Ambarella from a “b” rating to a “c+” rating in a research note on Tuesday, June 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.23.
Ambarella, Inc. (NASDAQ AMBA) opened at 46.96 on Friday. Ambarella, Inc. has a one year low of $40.06 and a one year high of $74.95. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 30.67 and a beta of 1.60. The firm has a 50-day moving average price of $49.30 and a 200-day moving average price of $53.07.
Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Thursday, August 31st. The semiconductor company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The company had revenue of $71.63 million during the quarter, compared to analyst estimates of $70.79 million. Ambarella had a return on equity of 11.94% and a net margin of 16.45%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $0.54 earnings per share. Analysts expect that Ambarella, Inc. will post $1.89 EPS for the current year.
Ambarella declared that its Board of Directors has initiated a stock buyback plan on Tuesday, June 6th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the semiconductor company to reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
In other Ambarella news, insider Leslie Kohn sold 6,467 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $46.50, for a total transaction of $300,715.50. Following the completion of the transaction, the insider now owns 907,645 shares in the company, valued at $42,205,492.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher Day sold 1,529 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $46.50, for a total value of $71,098.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,217 shares of company stock valued at $1,172,591. 5.80% of the stock is currently owned by company insiders.
Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.
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