Meeder Asset Management Inc. Invests $26,000 in Ambarella, Inc. (NASDAQ:AMBA)

Meeder Asset Management Inc. purchased a new stake in shares of Ambarella, Inc. (NASDAQ:AMBA) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 483 shares of the semiconductor company’s stock, valued at approximately $26,000.

A number of other large investors have also added to or reduced their stakes in AMBA. Kodai Capital Management LP acquired a new stake in Ambarella during the 4th quarter valued at $65,543,000. Norges Bank acquired a new stake in Ambarella during the 4th quarter valued at $23,495,000. Vanguard Group Inc. grew its holdings in Ambarella by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock valued at $220,384,000 after purchasing an additional 248,297 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Ambarella by 230.1% during the 2nd quarter. Acadian Asset Management LLC now owns 172,444 shares of the semiconductor company’s stock valued at $9,299,000 after purchasing an additional 120,204 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in Ambarella by 29.2% during the 1st quarter. Pinnacle Associates Ltd. now owns 484,906 shares of the semiconductor company’s stock valued at $24,619,000 after purchasing an additional 109,719 shares in the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AMBA shares. Bank of America raised their price target on shares of Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Westpark Capital reiterated a “buy” rating and set a $85.00 price objective on shares of Ambarella in a research note on Monday, August 26th. Morgan Stanley increased their price objective on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Wells Fargo & Company reduced their price objective on shares of Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, May 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $74.58.

Ambarella Stock Performance

Ambarella stock opened at $53.42 on Monday. The firm’s 50-day moving average is $52.73 and its 200-day moving average is $51.53. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $65.88. The company has a market cap of $2.20 billion, a P/E ratio of -12.54 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The company had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. During the same period last year, the firm posted ($0.76) EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts predict that Ambarella, Inc. will post -2.99 earnings per share for the current year.

Insider Activity at Ambarella

In related news, VP Christopher Day sold 1,408 shares of Ambarella stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the sale, the vice president now directly owns 21,599 shares in the company, valued at approximately $1,331,794.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Feng-Ming Wang sold 4,382 shares of Ambarella stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $56.02, for a total value of $245,479.64. Following the sale, the chief executive officer now directly owns 803,574 shares in the company, valued at approximately $45,016,215.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Christopher Day sold 1,408 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $61.66, for a total transaction of $86,817.28. Following the transaction, the vice president now directly owns 21,599 shares in the company, valued at approximately $1,331,794.34. The disclosure for this sale can be found here. Insiders have sold a total of 26,653 shares of company stock worth $1,487,144 in the last ninety days. 5.70% of the stock is owned by insiders.

Ambarella Profile

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.