Bank of Montreal Can Purchases 72,663 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Bank of Montreal Can grew its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 743.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,432 shares of the semiconductor company’s stock after acquiring an additional 72,663 shares during the period. Bank of Montreal Can owned about 0.20% of Ambarella worth $4,462,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Magnetar Financial LLC bought a new position in Ambarella during the 2nd quarter valued at approximately $684,000. Sei Investments Co. lifted its holdings in Ambarella by 330.7% in the second quarter. Sei Investments Co. now owns 48,463 shares of the semiconductor company’s stock worth $2,615,000 after buying an additional 37,211 shares during the period. Canada Pension Plan Investment Board bought a new stake in Ambarella during the 2nd quarter valued at approximately $3,809,000. Granite Investment Partners LLC grew its holdings in shares of Ambarella by 34.9% during the 2nd quarter. Granite Investment Partners LLC now owns 97,455 shares of the semiconductor company’s stock worth $5,258,000 after acquiring an additional 25,198 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of Ambarella by 31.2% in the 2nd quarter. Hsbc Holdings PLC now owns 27,830 shares of the semiconductor company’s stock worth $1,483,000 after acquiring an additional 6,621 shares in the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AMBA. Roth Mkm reiterated a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a report on Wednesday, August 28th. Morgan Stanley increased their price target on shares of Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Bank of America lifted their price target on shares of Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. TD Cowen upped their price objective on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Ambarella in a report on Wednesday, August 28th. Two 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $75.00.

Ambarella Stock Down 3.9 %

Shares of AMBA opened at $54.22 on Wednesday. The company has a market capitalization of $2.22 billion, a P/E ratio of -12.73 and a beta of 1.63. Ambarella, Inc. has a twelve month low of $39.69 and a twelve month high of $65.88. The firm has a 50 day moving average of $51.47 and a 200 day moving average of $51.48.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The firm had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $62.10 million. During the same quarter in the previous year, the business earned ($0.76) earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts expect that Ambarella, Inc. will post -3 EPS for the current year.

Insider Buying and Selling at Ambarella

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 value of $86,817.28. Following the completion of the sale, the vice president now directly owns 21,599 shares in the company, valued at $1,331,794.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Yun-Lung Chen sold 5,963 shares of the 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 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 Securities & Exchange Commission, which is available through this link. Also, VP Christopher Day sold 1,408 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $61.66, for a total value of $86,817.28. Following the completion of the transaction, the vice president now owns 21,599 shares in the company, valued at $1,331,794.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,927 shares of company stock worth $1,274,788. 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.