Granite Investment Partners LLC increased its position in Ambarella, Inc. (NASDAQ:AMBA – Free Report) by 34.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,455 shares of the semiconductor company’s stock after purchasing an additional 25,198 shares during the period. Granite Investment Partners LLC owned approximately 0.24% of Ambarella worth $5,258,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of AMBA. Meeder Asset Management Inc. acquired a new position in Ambarella during the second quarter worth $26,000. CWM LLC lifted its position in Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 304 shares in the last quarter. Van ECK Associates Corp boosted its stake in 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 during the last quarter. Larson Financial Group LLC increased its holdings in Ambarella by 13,576.9% during the 1st quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 1,765 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Ambarella in the first quarter worth approximately $205,000. Institutional investors and hedge funds own 82.09% of the company’s stock.
Ambarella Trading Down 2.5 %
Shares of NASDAQ AMBA opened at $54.40 on Friday. The stock has a fifty day simple moving average of $52.07 and a two-hundred day simple moving average of $51.52. Ambarella, Inc. has a 1-year low of $39.69 and a 1-year high of $65.88. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -12.77 and a beta of 1.63.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. Morgan Stanley lifted their price objective on shares of Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Wells Fargo & Company lowered their target price on shares of Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a report on Friday, May 31st. Stifel Nicolaus boosted their price target on shares of Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Craig Hallum increased their price objective on shares of Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $75.00.
Check Out Our Latest Report on Ambarella
Insider Activity
In related news, VP Yun-Lung Chen sold 5,963 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total value of $343,230.28. Following the completion of the transaction, the vice president now directly owns 62,026 shares of the company’s stock, valued at approximately $3,570,216.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Chan W. Lee sold 1,490 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $79,774.60. Following the sale, the chief operating officer now directly owns 121,406 shares in the company, valued at $6,500,077.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Yun-Lung Chen sold 5,963 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total transaction of $343,230.28. Following the completion of the sale, the vice president now directly owns 62,026 shares in the company, valued at $3,570,216.56. The disclosure for this sale can be found here. Insiders have sold a total of 28,014 shares of company stock valued at $1,542,210 over the last quarter. Company insiders own 5.70% of the company’s stock.
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.
See Also
- Five stocks we like better than Ambarella
- 3 Fintech Stocks With Good 2021 Prospects
- Analysts Predict 85% Upside for Wave Life Sciences After Rate Cut
- Breakout Stocks: What They Are and How to Identify Them
- FedEx Stock Dips: Another Reason to Fear Recession Is Near
- How to Invest in Small Cap StocksĀ
- The Half-Penny Revolution: Will SEC’s Reform Benefit Investors?
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 – Free Report).
Receive News & Ratings for Ambarella Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ambarella and related companies with MarketBeat.com's FREE daily email newsletter.