Vanguard Group Inc. boosted its position in Ambarella, Inc. (NASDAQ:AMBA) by 5.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,084,839 shares of the semiconductor company’s stock after buying an additional 104,382 shares during the period. Vanguard Group Inc.’s holdings in Ambarella were worth $114,061,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of Ambarella by 112.2% in the first quarter. Victory Capital Management Inc. now owns 1,903 shares of the semiconductor company’s stock worth $104,000 after buying an additional 1,006 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Ambarella during the first quarter worth $151,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Ambarella by 2.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,605 shares of the semiconductor company’s stock worth $197,000 after buying an additional 88 shares in the last quarter. Dubuque Bank & Trust Co. bought a new stake in shares of Ambarella during the first quarter worth $199,000. Finally, Laurion Capital Management LP bought a new stake in shares of Ambarella during the first quarter worth $213,000. 55.74% of the stock is currently owned by hedge funds and other institutional investors.
Ambarella, Inc. (AMBA) opened at 49.53 on Friday. The stock has a market capitalization of $1.66 billion, a P/E ratio of 29.27 and a beta of 1.62. The firm’s 50 day moving average is $50.06 and its 200 day moving average is $54.12. Ambarella, Inc. has a 1-year low of $46.80 and a 1-year high of $74.95.
Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Tuesday, June 6th. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The business had revenue of $64.10 million for the quarter, compared to analysts’ expectations of $63.54 million. Ambarella had a return on equity of 13.70% and a net margin of 18.47%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. On average, equities research analysts anticipate that Ambarella, Inc. will post $2.07 earnings per share for the current year.
Ambarella announced that its board has authorized a stock buyback plan on Tuesday, June 6th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
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A number of brokerages recently weighed in on AMBA. Vetr downgraded shares of Ambarella from a “strong-buy” rating to a “buy” rating and set a $62.50 target price on the stock. in a research note on Monday, May 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of Ambarella in a research note on Thursday, June 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Ambarella in a research note on Friday, June 9th. Zacks Investment Research downgraded shares of Ambarella from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $72.00 target price on shares of Ambarella in a research note on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $67.88.
In other news, CEO Feng-Ming Wang sold 11,628 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $48.77, for a total transaction of $567,097.56. Following the sale, the chief executive officer now directly owns 290,691 shares of the company’s stock, valued at approximately $14,177,000.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher Day sold 1,526 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $48.77, for a total value of $74,423.02. Following the sale, the vice president now directly owns 22,892 shares in the company, valued at $1,116,442.84. The disclosure for this sale can be found here. Insiders have sold a total of 23,963 shares of company stock worth $1,168,676 over the last ninety days. Insiders own 5.80% of the company’s stock.
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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