The Manufacturers Life Insurance Company Increases Stock Holdings in Ambarella, Inc. (NASDAQ:AMBA)

The Manufacturers Life Insurance Company raised its holdings in Ambarella, Inc. (NASDAQ:AMBA) by 36.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,291,900 shares of the semiconductor company’s stock after buying an additional 343,385 shares during the quarter. The Manufacturers Life Insurance Company owned about 3.15% of Ambarella worth $69,698,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AMBA. Kodai Capital Management LP purchased a new position in shares of Ambarella in the 4th quarter valued at approximately $65,543,000. Point72 Asset Management L.P. increased its stake in Ambarella by 1,556.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock valued at $27,353,000 after purchasing an additional 476,406 shares in the last quarter. Norges Bank acquired a new stake in shares of Ambarella during the fourth quarter worth $23,495,000. Marshall Wace LLP lifted its stake in shares of Ambarella by 69.2% during the second quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after buying an additional 250,778 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Ambarella by 6.1% during the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock valued at $220,384,000 after buying an additional 248,297 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

Ambarella Price Performance

Shares of AMBA stock opened at $56.44 on Friday. 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 $2.31 billion, a price-to-earnings ratio of -13.25 and a beta of 1.63. The stock has a 50 day simple moving average of $51.51 and a 200-day simple moving average of $51.48.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share 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 during the quarter, compared to analysts’ expectations of $62.10 million. During the same period in the prior year, the business posted ($0.76) earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts anticipate that Ambarella, Inc. will post -3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on AMBA. TD Cowen lifted their price target on Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research report 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. Westpark Capital restated a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research note on Monday, August 26th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Ambarella in a research report on Wednesday, August 28th. Finally, Morgan Stanley upped their price objective on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $75.00.

Insider Buying and Selling

In other news, VP Yun-Lung Chen sold 5,963 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the transaction, the vice president now owns 62,026 shares in the company, valued at $3,570,216.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Christopher Day sold 1,408 shares of the business’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 $1,331,794.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Yun-Lung Chen sold 5,963 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 62,026 shares of the company’s stock, valued at approximately $3,570,216.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,927 shares of company stock worth $1,274,788. 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.