Handelsbanken Fonder AB Buys 4,400 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Handelsbanken Fonder AB grew its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 45.2% in the third quarter, HoldingsChannel.com reports. The firm owned 14,144 shares of the semiconductor company’s stock after purchasing an additional 4,400 shares during the period. Handelsbanken Fonder AB’s holdings in Ambarella were worth $798,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMBA. Meeder Asset Management Inc. bought a new position in shares of Ambarella in the second quarter valued at approximately $26,000. CWM LLC grew its holdings in shares of Ambarella by 127.7% in the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 304 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Ambarella by 62.1% in the second quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock valued at $78,000 after acquiring an additional 552 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Ambarella by 13,576.9% in the first quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 1,765 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Ambarella by 22.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,275 shares of the semiconductor company’s stock valued at $177,000 after acquiring an additional 590 shares in the last quarter. 82.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMBA has been the subject of several research reports. TD Cowen increased their price objective on Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus increased their price objective on Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Bank of America increased their price objective on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Craig Hallum increased their price objective on Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Westpark Capital reissued a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $75.00.

Insiders Place Their Bets

In other news, VP Christopher Day sold 2,904 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total transaction of $168,432.00. Following the completion of the sale, the vice president now owns 18,466 shares of the company’s stock, valued at $1,071,028. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Christopher Day sold 2,904 shares of Ambarella stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total transaction of $168,432.00. Following the transaction, the vice president now owns 18,466 shares in the company, valued at approximately $1,071,028. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Yun-Lung Chen sold 5,963 shares of Ambarella stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total transaction of $343,230.28. Following the transaction, the vice president now owns 62,026 shares in the company, valued at approximately $3,570,216.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,423 shares of company stock valued at $1,356,402. Company insiders own 5.70% of the company’s stock.

Ambarella Stock Performance

AMBA stock opened at $59.64 on Friday. The firm has a 50 day moving average price of $52.43 and a 200-day moving average price of $51.92. Ambarella, Inc. has a 52-week low of $39.69 and a 52-week high of $65.88. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of -14.00 and a beta of 1.62.

Ambarella (NASDAQ:AMBA) last announced 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 analyst estimates of $62.10 million. During the same period in the previous year, the business earned ($0.76) EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts forecast that Ambarella, Inc. will post -3 earnings per share for the current fiscal year.

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.