Pinnacle Associates Ltd. raised its holdings in Ambarella Inc (NASDAQ:AMBA) by 5.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 953,325 shares of the semiconductor company’s stock after buying an additional 52,391 shares during the quarter. Pinnacle Associates Ltd. owned 2.85% of Ambarella worth $36,808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. ETF Managers Group LLC grew its holdings in Ambarella by 4.0% in the 1st quarter. ETF Managers Group LLC now owns 30,914 shares of the semiconductor company’s stock valued at $1,451,000 after buying an additional 1,191 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Ambarella by 1.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 96,598 shares of the semiconductor company’s stock valued at $4,732,000 after buying an additional 1,257 shares during the last quarter. Swiss National Bank grew its holdings in Ambarella by 2.3% in the 1st quarter. Swiss National Bank now owns 58,433 shares of the semiconductor company’s stock valued at $2,863,000 after buying an additional 1,300 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Ambarella by 3.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 57,500 shares of the semiconductor company’s stock valued at $2,817,000 after buying an additional 1,900 shares during the last quarter. Finally, Sandy Spring Bank acquired a new stake in Ambarella in the 1st quarter valued at approximately $110,000. 69.89% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AMBA stock opened at $38.03 on Friday. Ambarella Inc has a 12 month low of $37.10 and a 12 month high of $66.23. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 69.15 and a beta of 1.34.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Tuesday, June 5th. The semiconductor company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.04. Ambarella had a return on equity of 1.42% and a net margin of 2.18%. The company had revenue of $56.90 million during the quarter, compared to the consensus estimate of $56.13 million. During the same quarter last year, the company earned $0.39 EPS. The company’s quarterly revenue was down 11.2% on a year-over-year basis. sell-side analysts expect that Ambarella Inc will post -0.43 earnings per share for the current fiscal year.

A number of analysts have issued reports on the company. Zacks Investment Research raised Ambarella from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 7th. ValuEngine lowered Ambarella from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. BidaskClub lowered Ambarella from a “strong-buy” rating to a “buy” rating in a report on Monday, June 18th. Morgan Stanley lowered their target price on Ambarella from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, June 6th. Finally, Roth Capital reduced their price objective on Ambarella from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, June 6th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $55.59.

In other Ambarella news, CFO George Laplante sold 2,786 shares of the firm’s stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $43.27, for a total value of $120,550.22. Following the completion of the sale, the chief financial officer now owns 105,850 shares in the company, valued at approximately $4,580,129.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher Day sold 3,062 shares of the firm’s stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $44.00, for a total value of $134,728.00. Following the transaction, the vice president now owns 17,679 shares of the company’s stock, valued at approximately $777,876. The disclosure for this sale can be found here. Insiders sold a total of 20,657 shares of company stock valued at $897,714 in the last quarter. Corporate insiders own 5.84% of the company’s stock.

Ambarella Profile

Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.

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Institutional Ownership by Quarter for Ambarella (NASDAQ:AMBA)

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