Rhumbline Advisers Increases Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Rhumbline Advisers raised its holdings in Ambarella, Inc. (NASDAQ:AMBA) by 5.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,780 shares of the semiconductor company’s stock after purchasing an additional 3,177 shares during the quarter. Rhumbline Advisers owned 0.15% of Ambarella worth $3,279,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Ambarella by 6.1% in the first 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 during the period. Kodai Capital Management LP purchased a new stake in Ambarella in the fourth quarter valued at $65,543,000. Dimensional Fund Advisors LP raised its position in Ambarella by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock valued at $43,171,000 after purchasing an additional 29,379 shares during the period. The Manufacturers Life Insurance Company raised its position in Ambarella by 24.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 533,964 shares of the semiconductor company’s stock valued at $32,727,000 after purchasing an additional 104,072 shares during the period. Finally, Pinnacle Associates Ltd. raised its position in Ambarella by 29.2% in the first 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 during the period. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Insiders Place Their Bets

In other Ambarella news, VP Chi-Hong Ju sold 6,000 shares of Ambarella stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $52.90, for a total transaction of $317,400.00. Following the completion of the sale, the vice president now directly owns 173,193 shares of the company’s stock, valued at approximately $9,161,909.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Chi-Hong Ju sold 6,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $52.90, for a total value of $317,400.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Feng-Ming Wang sold 4,382 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 803,574 shares of the company’s stock, valued at $45,016,215.48. The disclosure for this sale can be found here. Insiders sold 26,653 shares of company stock valued at $1,487,144 in the last ninety days. Insiders own 5.70% of the company’s stock.

Ambarella Price Performance

AMBA opened at $54.32 on Wednesday. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $65.88. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -12.75 and a beta of 1.63. The business has a fifty day moving average price of $52.47 and a 200 day moving average price of $51.49.

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

Wall Street Analysts Forecast Growth

AMBA has been the topic of a number of research analyst reports. Roth Mkm restated a “neutral” rating and issued a $60.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research note on Friday, August 23rd. Morgan Stanley lifted their price objective on Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Bank of America lifted their price objective on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Finally, Wells Fargo & Company dropped their price objective 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.58.

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.