Point72 DIFC Ltd Sells 7,045 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Point72 DIFC Ltd lowered its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 56.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,388 shares of the semiconductor company’s stock after selling 7,045 shares during the period. Point72 DIFC Ltd’s holdings in Ambarella were worth $291,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in AMBA. Dimensional Fund Advisors LP lifted its holdings in Ambarella by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock worth $43,171,000 after buying an additional 29,379 shares during the period. Norges Bank bought a new position in shares of Ambarella in the 4th quarter worth $23,495,000. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Ambarella by 1,181.7% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 10,920 shares of the semiconductor company’s stock worth $669,000 after purchasing an additional 10,068 shares during the last quarter. Alpha DNA Investment Management LLC bought a new stake in Ambarella during the fourth quarter valued at about $501,000. Finally, The Manufacturers Life Insurance Company grew its stake 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 last quarter. 82.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ambarella

In other news, VP Christopher Day sold 483 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $25,859.82. Following the sale, the vice president now owns 21,370 shares in the company, valued at $1,144,149.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Christopher Day sold 483 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 value of $25,859.82. Following the sale, the vice president now owns 21,370 shares in the company, valued at $1,144,149.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Alexander Young sold 2,139 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $114,522.06. Following the sale, the chief financial officer now directly owns 103,529 shares in the company, valued at $5,542,942.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,927 shares of company stock worth $1,274,788. Company insiders own 5.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AMBA. Wells Fargo & Company decreased their price target on shares of Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, May 31st. Roth Mkm reissued a “neutral” rating and set a $60.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. TD Cowen raised their target price on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Morgan Stanley upped their price target on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Ambarella currently has a consensus rating of “Hold” and a consensus price target of $75.00.

Ambarella Price Performance

NASDAQ AMBA opened at $57.08 on Friday. The stock’s fifty day moving average price is $51.51 and its 200 day moving average price is $51.48. 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 $2.34 billion, a price-to-earnings ratio of -13.40 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (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%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the business posted ($0.76) earnings per share. Research analysts expect that Ambarella, Inc. will post -3 earnings per share for the current year.

Ambarella Company 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.