Alps Advisors Inc. decreased its position in shares of Ambarella Inc. (NASDAQ:AMBA) by 6.9% during the second quarter, Holdings Channel reports. The fund owned 10,552 shares of the company’s stock after selling 776 shares during the period. Alps Advisors Inc.’s holdings in Ambarella were worth $536,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. increased its position in shares of Ambarella by 161.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,615 shares of the company’s stock valued at $133,000 after buying an additional 1,615 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Ambarella during the second quarter valued at approximately $228,000. Seven Eight Capital LLC increased its position in shares of Ambarella by 528,800.0% in the first quarter. Seven Eight Capital LLC now owns 5,289 shares of the company’s stock valued at $236,000 after buying an additional 5,288 shares during the last quarter. IFP Advisors Inc increased its position in shares of Ambarella by 28.5% in the first quarter. IFP Advisors Inc now owns 7,195 shares of the company’s stock valued at $322,000 after buying an additional 1,596 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of Ambarella by 48.2% in the first quarter. Royal Bank of Canada now owns 7,326 shares of the company’s stock valued at $328,000 after buying an additional 2,384 shares during the last quarter. 51.33% of the stock is currently owned by institutional investors.
Ambarella Inc. (NASDAQ:AMBA) traded up 0.41% during mid-day trading on Monday, hitting $73.91. 1,325,469 shares of the company were exchanged. The company has a market capitalization of $2.42 billion, a P/E ratio of 55.66 and a beta of 1.50. Ambarella Inc. has a 12-month low of $33.39 and a 12-month high of $74.95. The company’s 50-day moving average is $68.08 and its 200 day moving average is $52.79.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.16. The business had revenue of $65.10 million for the quarter, compared to analysts’ expectations of $64.02 million. Ambarella had a net margin of 15.86% and a return on equity of 14.23%. The firm’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. Analysts expect that Ambarella Inc. will post $2.64 EPS for the current year.
AMBA has been the topic of several recent analyst reports. Vetr downgraded Ambarella from a “strong-buy” rating to a “buy” rating and set a $68.62 target price on the stock. in a report on Friday, August 12th. Zacks Investment Research raised Ambarella from a “hold” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a report on Tuesday, August 2nd. Canaccord Genuity upped their price objective on Ambarella from $85.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, August 31st. Deutsche Bank AG reaffirmed a “hold” rating and set a $68.00 price objective on shares of Ambarella in a report on Friday, September 16th. Finally, Roth Capital assumed coverage on Ambarella in a report on Wednesday, September 28th. They set a “buy” rating and a $80.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $69.31.
In related news, CEO Feng-Ming Wang sold 9,573 shares of Ambarella stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $67.98, for a total value of $650,772.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Christopher Day sold 6,138 shares of Ambarella stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $68.02, for a total transaction of $417,506.76. Following the completion of the transaction, the vice president now directly owns 25,997 shares in the company, valued at $1,768,315.94. The disclosure for this sale can be found here. 5.43% of the stock is currently owned by corporate 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.
Want to see what other hedge funds are holding AMBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ambarella Inc. (NASDAQ:AMBA).
Receive News & Ratings for Ambarella Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ambarella Inc. and related companies with MarketBeat.com's FREE daily email newsletter.