Schwab Charles Investment Management Inc. boosted its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 5.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,300 shares of the semiconductor company’s stock after buying an additional 2,800 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.16% of Ambarella worth $2,917,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. AXA purchased a new stake in shares of Ambarella during the first quarter worth about $19,309,000. Pinnacle Associates Ltd. raised its stake in shares of Ambarella by 44.9% in the first quarter. Pinnacle Associates Ltd. now owns 679,192 shares of the semiconductor company’s stock worth $37,159,000 after buying an additional 210,558 shares in the last quarter. Kennedy Capital Management Inc. purchased a new stake in shares of Ambarella during the first quarter worth about $8,147,000. Norges Bank purchased a new stake in shares of Ambarella during the fourth quarter worth about $6,696,000. Finally, Vanguard Group Inc. raised its stake in shares of Ambarella by 5.3% in the first quarter. Vanguard Group Inc. now owns 2,084,839 shares of the semiconductor company’s stock worth $114,061,000 after buying an additional 104,382 shares in the last quarter. 58.62% of the stock is owned by hedge funds and other institutional investors.
Shares of Ambarella, Inc. (NASDAQ:AMBA) traded up 0.08% during mid-day trading on Friday, hitting $50.64. 345,959 shares of the stock traded hands. The company has a market cap of $1.70 billion, a P/E ratio of 29.93 and a beta of 1.61. The stock has a 50 day moving average price of $50.55 and a 200-day moving average price of $54.13. Ambarella, Inc. has a one year low of $46.80 and a one year high of $74.95.
Ambarella (NASDAQ:AMBA) last issued its earnings results on Tuesday, June 6th. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.03. Ambarella had a return on equity of 13.70% and a net margin of 18.47%. The business had revenue of $64.10 million during the quarter, compared to analysts’ expectations of $63.54 million. During the same quarter in the previous year, the business earned $0.34 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts forecast that Ambarella, Inc. will post $2.07 earnings per share for the current fiscal year.
Ambarella declared that its board has approved a stock repurchase program on Tuesday, June 6th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
AMBA has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Ambarella from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Vetr cut 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 report on Monday, May 1st. Canaccord Genuity reaffirmed a “buy” rating and issued a $72.00 target price on shares of Ambarella in a research report on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of Ambarella in a research report on Thursday, June 1st. Finally, Deutsche Bank AG decreased their target price on shares of Ambarella from $55.00 to $54.00 and set a “hold” rating on the stock in a research report on Friday, June 9th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $67.88.
In related news, insider Leslie Kohn sold 5,973 shares of the business’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 $291,303.21. Following the transaction, the insider now directly owns 904,530 shares of the company’s stock, valued at approximately $44,113,928.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher Day sold 1,526 shares of the business’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 transaction, 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 valued at $1,168,676 in the last quarter. Company 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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