Ambarella, Inc. (NASDAQ:AMBA) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp boosted its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 216.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,563 shares of the semiconductor company’s stock after purchasing an additional 3,122 shares during the quarter. Van ECK Associates Corp’s holdings in Ambarella were worth $264,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AMBA. Meeder Asset Management Inc. acquired a new position in shares of Ambarella during the second quarter valued at $26,000. Blue Trust Inc. boosted its stake in Ambarella by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 321 shares during the period. CWM LLC increased its stake 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 purchasing an additional 304 shares during the period. Signaturefd LLC raised its holdings in shares of Ambarella by 389.6% during the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 526 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Ambarella during the third quarter worth approximately $152,000. 82.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Ambarella news, VP Yun-Lung Chen sold 5,963 shares of the business’s 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 sale, the vice president now directly owns 62,026 shares of the company’s stock, valued at $3,570,216.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Christopher Day sold 2,904 shares of Ambarella stock in a transaction dated Thursday, October 3rd. The stock was 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 $1,071,028. The trade was a 0.00 % decrease in their position. The sale 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 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 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 90 days, insiders sold 24,423 shares of company stock valued at $1,356,402. Company insiders own 5.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMBA. Stifel Nicolaus raised their target price on Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a report on Wednesday, August 28th. Craig Hallum raised their target price on shares of Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Bank of America upped their price target on shares of Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Finally, TD Cowen raised their price objective 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. 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. Based on data from MarketBeat.com, Ambarella has an average rating of “Hold” and an average target price of $74.09.

Ambarella Stock Down 3.2 %

Shares of NASDAQ AMBA opened at $59.71 on Wednesday. The stock’s fifty day simple moving average is $56.63 and its 200 day simple moving average is $53.87. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -13.82 and a beta of 1.63. Ambarella, Inc. has a 52-week low of $39.69 and a 52-week high of $65.88.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results 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 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 analysts’ expectations of $62.10 million. During the same quarter last year, the business posted ($0.76) EPS. Ambarella’s revenue was up 2.6% on a year-over-year basis. As a group, analysts anticipate 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.