Wells Fargo & Company MN lessened its stake in shares of Ambarella Inc (NASDAQ:AMBA) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,859 shares of the semiconductor company’s stock after selling 3,898 shares during the period. Wells Fargo & Company MN owned approximately 0.21% of Ambarella worth $3,473,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of AMBA. Victory Capital Management Inc. boosted its stake in Ambarella by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,240 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 337 shares during the last quarter. Turner Investments LLC purchased a new position in shares of Ambarella in the 3rd quarter worth $172,000. Amalgamated Bank boosted its stake in shares of Ambarella by 3.6% in the 2nd quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock worth $200,000 after buying an additional 143 shares during the last quarter. Aperio Group LLC purchased a new position in Ambarella during the third quarter valued at $213,000. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Ambarella by 17.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 4,908 shares of the semiconductor company’s stock valued at $238,000 after purchasing an additional 734 shares in the last quarter. 63.02% of the stock is owned by institutional investors.
Several equities analysts recently weighed in on the company. BidaskClub downgraded Ambarella from a “hold” rating to a “sell” rating in a research report on Saturday. UBS Group raised Ambarella from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $60.00 target price on shares of Ambarella in a report on Wednesday, September 27th. Vetr cut Ambarella from a “buy” rating to a “hold” rating and set a $61.51 target price on the stock. in a report on Thursday, December 28th. Finally, Oppenheimer reissued a “hold” rating on shares of Ambarella in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $60.14.
Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, November 30th. The semiconductor company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. Ambarella had a return on equity of 7.87% and a net margin of 11.51%. The firm had revenue of $89.06 million for the quarter, compared to the consensus estimate of $89.41 million. During the same period in the prior year, the firm earned $1.11 EPS. The firm’s revenue was down 11.4% on a year-over-year basis. research analysts predict that Ambarella Inc will post 0.7 EPS for the current fiscal year.
In other Ambarella news, CEO Feng-Ming Wang sold 8,851 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $57.69, for a total value of $510,614.19. Following the completion of the sale, the chief executive officer now owns 293,267 shares in the company, valued at approximately $16,918,573.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Yun-Lung Chen sold 11,340 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $59.80, for a total transaction of $678,132.00. Following the completion of the sale, the vice president now owns 11,386 shares of the company’s stock, valued at approximately $680,882.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,553 shares of company stock worth $2,145,108. 5.80% of the stock is owned by corporate insiders.
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Ambarella Company Profile
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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