Ambarella, Inc. (NASDAQ:AMBA) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA) by 6.4% during the third quarter, Holdings Channel reports. The firm owned 4,767 shares of the semiconductor company’s stock after acquiring an additional 285 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Ambarella were worth $269,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AMBA. Point72 Asset Management L.P. grew its position in shares of Ambarella by 1,556.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock valued at $27,353,000 after buying an additional 476,406 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Ambarella by 36.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock worth $69,698,000 after purchasing an additional 343,385 shares during the last quarter. Marshall Wace LLP boosted its position in Ambarella by 69.2% during the 2nd quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock valued at $33,090,000 after purchasing an additional 250,778 shares during the period. Vanguard Group Inc. boosted its position in Ambarella by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock valued at $220,384,000 after purchasing an additional 248,297 shares during the period. Finally, Acadian Asset Management LLC grew its stake in Ambarella by 230.1% during the 2nd quarter. Acadian Asset Management LLC now owns 172,444 shares of the semiconductor company’s stock worth $9,299,000 after buying an additional 120,204 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors.

Ambarella Stock Performance

Shares of AMBA stock opened at $57.34 on Wednesday. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $65.88. The business’s fifty day moving average is $54.55 and its 200-day moving average is $52.33. The stock has a market cap of $2.35 billion, a PE ratio of -13.46 and a beta of 1.62.

Ambarella (NASDAQ:AMBA) last released its 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. 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 for the quarter, compared to analyst estimates of $62.10 million. During the same period in the previous year, the company earned ($0.76) earnings per share. Ambarella’s revenue was up 2.6% compared to the same quarter last year. Equities research analysts predict that Ambarella, Inc. will post -3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AMBA shares. Roth Mkm reissued a “neutral” rating and set a $60.00 price target on shares of Ambarella in a report on Wednesday, August 28th. Bank of America upped their target price on shares of Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price target on shares of Ambarella in a report on Friday, August 23rd. Craig Hallum increased their price objective on Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Susquehanna lowered their target price on Ambarella from $80.00 to $70.00 and set a “positive” rating on the stock in a research report on Monday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $74.09.

Insider Buying and Selling

In related news, VP Christopher Day sold 2,904 shares of the firm’s stock in a transaction that occurred 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 directly owns 18,466 shares in the company, valued at approximately $1,071,028. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, 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 sale, the director now directly owns 8,155 shares of the company’s stock, valued at $446,404.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher Day sold 2,904 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total value of $168,432.00. Following the sale, the vice president now directly owns 18,466 shares of the company’s stock, valued at approximately $1,071,028. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,423 shares of company stock worth $1,356,402 in the last ninety days. 5.70% of the stock is currently owned by corporate insiders.

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.