Arizona State Retirement System Has $588,000 Stock Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Arizona State Retirement System lifted its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,893 shares of the semiconductor company’s stock after purchasing an additional 385 shares during the period. Arizona State Retirement System’s holdings in Ambarella were worth $588,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AMBA. CWM LLC boosted its position in shares of Ambarella by 127.7% during the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 304 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Ambarella by 62.1% during the 2nd quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock valued at $78,000 after purchasing an additional 552 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Ambarella by 13,576.9% during the 1st quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock valued at $90,000 after purchasing an additional 1,765 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Ambarella during the 1st quarter valued at about $205,000. Finally, Versor Investments LP bought a new stake in shares of Ambarella during the 2nd quarter valued at about $235,000. Institutional investors own 82.09% of the company’s stock.

Insider Activity at Ambarella

In related news, VP Chi-Hong Ju sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $52.90, for a total value of $317,400.00. Following the transaction, the vice president now directly owns 173,193 shares of the company’s stock, valued at approximately $9,161,909.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Chi-Hong Ju sold 6,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $52.90, for a total transaction of $317,400.00. Following the transaction, the vice president now directly owns 173,193 shares of the company’s stock, valued at approximately $9,161,909.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher Day sold 1,408 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the transaction, the vice president now directly owns 21,599 shares in the company, valued at $1,331,794.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,653 shares of company stock valued at $1,487,144. 5.70% of the stock is owned by corporate insiders.

Ambarella Stock Performance

AMBA stock opened at $53.36 on Tuesday. Ambarella, Inc. has a fifty-two week low of $39.69 and a fifty-two week high of $65.88. The business’s 50 day moving average price is $52.57 and its two-hundred day moving average price is $51.51. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -12.53 and a beta of 1.63.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley increased their price target on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Craig Hallum increased their price target on Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Ambarella in a report on Wednesday, August 28th. Stifel Nicolaus increased their price target on Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Roth Mkm reiterated a “neutral” rating and issued a $60.00 price target on shares of Ambarella in a report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Ambarella currently has an average rating of “Hold” and an average price target of $74.58.

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.