Nicholas Investment Partners LP increased its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA) by 37.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 56,931 shares of the semiconductor company’s stock after acquiring an additional 15,470 shares during the period. Nicholas Investment Partners LP owned about 0.17% of Ambarella worth $2,790,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of AMBA. State Street Corp raised its position in Ambarella by 5.9% during the 2nd quarter. State Street Corp now owns 595,044 shares of the semiconductor company’s stock valued at $28,894,000 after purchasing an additional 33,237 shares in the last quarter. ETF Managers Group LLC bought a new stake in Ambarella during the 2nd quarter valued at $557,000. Alpine Woods Capital Investors LLC raised its position in Ambarella by 21.8% during the 3rd quarter. Alpine Woods Capital Investors LLC now owns 29,100 shares of the semiconductor company’s stock valued at $1,426,000 after purchasing an additional 5,200 shares in the last quarter. Northern Trust Corp raised its position in Ambarella by 4.5% during the 2nd quarter. Northern Trust Corp now owns 344,807 shares of the semiconductor company’s stock valued at $16,741,000 after purchasing an additional 14,710 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Ambarella by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,145,609 shares of the semiconductor company’s stock valued at $104,169,000 after purchasing an additional 60,770 shares in the last quarter. 63.21% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Leslie Kohn sold 6,467 shares of Ambarella stock in a transaction on Monday, September 18th. The stock was sold at an average price of $46.50, for a total value of $300,715.50. Following the transaction, the insider now directly owns 907,645 shares in the company, valued at approximately $42,205,492.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO George Laplante sold 5,592 shares of Ambarella stock in a transaction on Monday, September 18th. The shares were sold at an average price of $46.50, for a total value of $260,028.00. Following the completion of the transaction, the chief financial officer now owns 103,586 shares in the company, valued at $4,816,749. The disclosure for this sale can be found here. Insiders sold a total of 27,835 shares of company stock worth $1,301,265 over the last quarter. Company insiders own 5.80% of the company’s stock.
Ambarella, Inc. (NASDAQ AMBA) opened at $57.57 on Wednesday. Ambarella, Inc. has a fifty-two week low of $40.06 and a fifty-two week high of $65.39. The stock has a market capitalization of $1,960.00, a price-to-earnings ratio of 59.08, a PEG ratio of 6.57 and a beta of 1.57.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Thursday, November 30th. The semiconductor company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.08. Ambarella had a return on equity of 7.92% and a net margin of 11.51%. The business had revenue of $89.06 million for the quarter, compared to the consensus estimate of $89.41 million. During the same period last year, the business posted $1.11 EPS. The business’s revenue was down 11.4% compared to the same quarter last year. analysts expect that Ambarella, Inc. will post 0.64 EPS for the current year.
A number of brokerages have weighed in on AMBA. Vetr raised Ambarella from a “hold” rating to a “buy” rating and set a $61.51 target price for the company in a research report on Tuesday. Craig Hallum lowered Ambarella from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a research report on Friday, September 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Ambarella in a research report on Friday, December 1st. Canaccord Genuity decreased their target price on Ambarella from $72.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, September 5th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Ambarella in a research report on Friday, September 1st. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Ambarella currently has an average rating of “Hold” and a consensus target price of $58.65.
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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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