Intech Investment Management LLC Invests $722,000 in Ambarella, Inc. (NASDAQ:AMBA)

Intech Investment Management LLC purchased a new stake in Ambarella, Inc. (NASDAQ:AMBA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,801 shares of the semiconductor company’s stock, valued at approximately $722,000.

Several other large investors have also recently bought and sold shares of the stock. Azzad Asset Management Inc. ADV grew its position in shares of Ambarella by 2.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock valued at $539,000 after purchasing an additional 231 shares during the last quarter. Versor Investments LP increased its position in Ambarella by 5.9% during the 3rd quarter. Versor Investments LP now owns 4,619 shares of the semiconductor company’s stock worth $261,000 after buying an additional 256 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Ambarella by 6.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,767 shares of the semiconductor company’s stock valued at $269,000 after acquiring an additional 285 shares during the period. Linden Thomas Advisory Services LLC grew its stake in shares of Ambarella by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock valued at $945,000 after acquiring an additional 288 shares in the last quarter. Finally, CWM LLC increased its position in Ambarella by 127.7% during the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 304 shares during the period. 82.09% of the stock is owned by institutional investors.

Ambarella Stock Down 1.2 %

Shares of AMBA opened at $71.55 on Friday. The business has a 50-day simple moving average of $59.27 and a two-hundred day simple moving average of $55.31. Ambarella, Inc. has a 12-month low of $39.69 and a 12-month high of $81.32. The stock has a market cap of $2.95 billion, a PE ratio of -18.54 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.06. Ambarella had a negative return on equity of 23.52% and a negative net margin of 62.38%. The company had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. During the same quarter in the prior year, the firm posted ($0.76) earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that Ambarella, Inc. will post -3 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMBA. Northland Securities reaffirmed an “outperform” rating and set a $95.00 target price (up from $75.00) on shares of Ambarella in a report on Wednesday. Needham & Company LLC upped their target price on Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley raised their price target on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday. Roth Mkm reiterated a “neutral” rating and set a $60.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Finally, Craig Hallum upped their price target on shares of Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Ambarella presently has a consensus rating of “Hold” and a consensus price target of $81.67.

Insiders Place Their Bets

In related news, VP Yun-Lung Chen sold 5,963 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 62,026 shares of the company’s stock, valued at $3,570,216.56. This trade represents a 8.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher Day sold 2,904 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total value of $168,432.00. Following the completion of the sale, the vice president now owns 18,466 shares in the company, valued at $1,071,028. This trade represents a 13.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,423 shares of company stock valued at $1,356,402 in the last ninety days. 5.70% of the stock is currently owned by insiders.

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.