Pitcairn Co. Has $310,000 Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Pitcairn Co. trimmed its holdings in Ambarella, Inc. (NASDAQ:AMBA) by 3.7% in the third quarter, Holdings Channel reports. The institutional investor owned 5,499 shares of the semiconductor company’s stock after selling 209 shares during the period. Pitcairn Co.’s holdings in Ambarella were worth $310,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in AMBA. Algert Global LLC raised its holdings in Ambarella by 76.2% in the 3rd quarter. Algert Global LLC now owns 94,999 shares of the semiconductor company’s stock valued at $5,358,000 after acquiring an additional 41,094 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Ambarella by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 320,319 shares of the semiconductor company’s stock valued at $18,068,000 after purchasing an additional 3,700 shares in the last quarter. Intech Investment Management LLC acquired a new position in Ambarella in the third quarter valued at about $722,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Ambarella by 18.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 226,502 shares of the semiconductor company’s stock worth $12,776,000 after purchasing an additional 35,977 shares during the period. Finally, KBC Group NV grew its stake in Ambarella by 1.3% during the third quarter. KBC Group NV now owns 41,835 shares of the semiconductor company’s stock worth $2,360,000 after buying an additional 525 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP Yun-Lung Chen sold 5,963 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total value 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. The trade was a 8.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher Day sold 2,904 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total transaction of $168,432.00. Following the sale, the vice president now owns 18,466 shares of the company’s stock, valued at approximately $1,071,028. This trade represents a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,423 shares of company stock valued at $1,356,402 over the last ninety days. 5.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AMBA shares. Westpark Capital reaffirmed a “buy” rating and set a $85.00 price target on shares of Ambarella in a report on Monday, August 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 target price on shares of Ambarella in a report on Friday, August 23rd. Susquehanna boosted their price target on Ambarella from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Wednesday. Needham & Company LLC raised their price objective on Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Stifel Nicolaus boosted their target price on Ambarella from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $81.67.

Ambarella Stock Performance

Shares of NASDAQ:AMBA opened at $72.44 on Thursday. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $81.32. The firm has a market cap of $2.99 billion, a PE ratio of -16.77 and a beta of 1.63. The firm’s fifty day moving average is $58.23 and its 200-day moving average is $54.89.

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

About Ambarella

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.