Alliancebernstein L.P. Has $2.56 Million Position in Ambarella, Inc. (AMBA)
Alliancebernstein L.P. increased its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 11.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,690 shares of the semiconductor company’s stock after buying an additional 5,300 shares during the quarter. Alliancebernstein L.P. owned 0.16% of Ambarella worth $2,558,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. AXA lifted its position in shares of Ambarella by 100.6% during the 2nd quarter. AXA now owns 708,106 shares of the semiconductor company’s stock worth $34,379,000 after buying an additional 355,170 shares during the period. Reliant Investment Management LLC lifted its position in shares of Ambarella by 1.0% during the 2nd quarter. Reliant Investment Management LLC now owns 31,010 shares of the semiconductor company’s stock worth $1,506,000 after buying an additional 305 shares during the period. Synovus Financial Corp lifted its position in shares of Ambarella by 249.8% during the 2nd quarter. Synovus Financial Corp now owns 11,722 shares of the semiconductor company’s stock worth $572,000 after buying an additional 8,371 shares during the period. State of Tennessee Treasury Department lifted its position in shares of Ambarella by 53.8% during the 2nd quarter. State of Tennessee Treasury Department now owns 600,000 shares of the semiconductor company’s stock worth $29,130,000 after buying an additional 210,000 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Ambarella during the 2nd quarter worth approximately $411,000. Institutional investors and hedge funds own 57.06% of the company’s stock.
AMBA has been the subject of several analyst reports. Craig Hallum downgraded Ambarella from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a research report on Friday, September 1st. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Ambarella in a research report on Friday, September 1st. Canaccord Genuity restated a “buy” rating and set a $72.00 target price on shares of Ambarella in a research report on Tuesday, July 11th. Zacks Investment Research downgraded Ambarella from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Morgan Stanley restated an “overweight” rating and set a $60.00 target price on shares of Ambarella in a research report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $58.23.
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In other news, VP Christopher Day sold 2,618 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $49.15, for a total value of $128,674.70. Following the completion of the transaction, the vice president now directly owns 20,377 shares in the company, valued at approximately $1,001,529.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Leslie Kohn sold 6,467 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $46.50, for a total value of $300,715.50. Following the completion of the transaction, the insider now owns 907,645 shares of the company’s stock, valued at $42,205,492.50. The disclosure for this sale can be found here. Insiders sold a total of 27,835 shares of company stock valued at $1,301,265 over the last quarter. 5.80% of the stock is owned by corporate insiders.
Ambarella, Inc. (NASDAQ AMBA) opened at 51.46 on Friday. The firm has a 50-day moving average price of $48.08 and a 200 day moving average price of $52.32. Ambarella, Inc. has a 12 month low of $40.06 and a 12 month high of $69.09. The company has a market cap of $1.71 billion, a P/E ratio of 33.61 and a beta of 1.57.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Thursday, August 31st. The semiconductor company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04. Ambarella had a return on equity of 11.94% and a net margin of 16.45%. The company had revenue of $71.63 million during the quarter, compared to analysts’ expectations of $70.79 million. During the same period in the prior year, the company earned $0.54 EPS. Ambarella’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts expect that Ambarella, Inc. will post $1.89 earnings per share for the current year.
Ambarella Company Profile
Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.
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