Thrivent Financial for Lutherans Sells 1,336 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Thrivent Financial for Lutherans lessened its holdings in Ambarella, Inc. (NASDAQ:AMBA) by 4.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,310 shares of the semiconductor company’s stock after selling 1,336 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of Ambarella worth $1,689,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of 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 acquiring an additional 248,297 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Ambarella by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 683,119 shares of the semiconductor company’s stock valued at $36,854,000 after acquiring an additional 2,994 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of 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 acquiring an additional 104,072 shares during the period. Pinnacle Associates Ltd. raised its stake in shares of 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 acquiring an additional 109,719 shares during the period. Finally, Tributary Capital Management LLC raised its stake in shares of Ambarella by 2.2% in the second quarter. Tributary Capital Management LLC now owns 285,667 shares of the semiconductor company’s stock valued at $15,412,000 after acquiring an additional 6,020 shares during the period. Institutional investors own 82.09% of the company’s stock.

Insider Activity

In other news, VP Christopher Day sold 1,408 shares of Ambarella stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $61.66, for a total transaction of $86,817.28. Following the completion of the transaction, the vice president now directly owns 21,599 shares of the company’s stock, valued at approximately $1,331,794.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Christopher Day sold 1,408 shares of the business’s 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 completion of the sale, the vice president now owns 21,599 shares of the company’s stock, valued at approximately $1,331,794.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Elizabeth M. Schwarting sold 913 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $54.74, for a total transaction of $49,977.62. Following the completion of the sale, the director now directly owns 8,155 shares of the company’s stock, valued at approximately $446,404.70. The disclosure for this sale can be found here. Insiders sold a total of 22,927 shares of company stock valued at $1,274,788 in the last three months. 5.70% of the stock is currently owned by corporate insiders.

Ambarella Trading Up 4.1 %

AMBA opened at $56.47 on Thursday. Ambarella, Inc. has a 12-month low of $39.69 and a 12-month high of $65.88. The firm has a market capitalization of $2.31 billion, a PE ratio of -13.26 and a beta of 1.63. The firm has a 50 day moving average of $51.40 and a two-hundred day moving average of $51.52.

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. The company had revenue of $63.70 million during the quarter, compared to analyst estimates of $62.10 million. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. Ambarella’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.76) EPS. As a group, analysts predict that Ambarella, Inc. will post -3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on AMBA shares. Bank of America raised their price target on shares of Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Stifel Nicolaus raised their price target on shares of Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Morgan Stanley raised their price target on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. TD Cowen raised their price target on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Ambarella in a report on Wednesday, August 28th. Two 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 company. According to data from MarketBeat, Ambarella currently has an average rating of “Hold” and a consensus target price of $75.00.

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.