Allspring Global Investments Holdings LLC Has $4.06 Million Position in Ambarella, Inc. (NASDAQ:AMBA)

Allspring Global Investments Holdings LLC cut its stake in Ambarella, Inc. (NASDAQ:AMBA) by 40.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,028 shares of the semiconductor company’s stock after selling 55,090 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.20% of Ambarella worth $4,063,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in Ambarella in the third quarter valued at about $66,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Ambarella in the 4th quarter valued at approximately $78,000. Daiwa Securities Group Inc. lifted its holdings in shares of Ambarella by 36.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,433 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 381 shares during the period. Wrapmanager Inc. acquired a new stake in shares of Ambarella during the 4th quarter worth approximately $210,000. Finally, DMC Group LLC bought a new position in Ambarella in the fourth quarter valued at approximately $211,000. 82.09% of the stock is currently owned by institutional investors.

Insider Activity at Ambarella

In other Ambarella news, VP Chi-Hong Ju sold 2,296 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $56.79, for a total transaction of $130,389.84. Following the completion of the transaction, the vice president now owns 182,147 shares in the company, valued at approximately $10,344,128.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 19,091 shares of company stock worth $1,050,969 over the last ninety days. Insiders own 5.70% of the company’s stock.

Ambarella Stock Up 1.5 %

Shares of AMBA stock traded up $0.83 during trading hours on Tuesday, hitting $54.44. 28,072 shares of the company’s stock traded hands, compared to its average volume of 587,004. The stock has a market cap of $2.23 billion, a PE ratio of -12.72 and a beta of 1.59. Ambarella, Inc. has a 12 month low of $40.31 and a 12 month high of $85.09. The stock’s 50 day simple moving average is $50.90 and its 200 day simple moving average is $53.00.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Thursday, May 30th. The semiconductor company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.09. The firm had revenue of $54.47 million for the quarter, compared to analyst estimates of $54.04 million. Ambarella had a negative return on equity of 24.86% and a negative net margin of 78.36%. As a group, equities research analysts expect that Ambarella, Inc. will post -3.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Bank of America reduced their target price on Ambarella from $62.00 to $50.00 and set an “underperform” rating on the stock in a report on Tuesday, April 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research note on Tuesday, June 11th. Wells Fargo & Company lowered their target price on Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a research note on Friday, May 31st. StockNews.com upgraded shares of Ambarella to a “sell” rating in a research note on Friday, April 26th. Finally, Roth Mkm lowered their price objective on shares of Ambarella from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ambarella has a consensus rating of “Hold” and an average price target of $69.75.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.