Rhumbline Advisers Raises Holdings in Ambarella Inc (NASDAQ:AMBA)

Rhumbline Advisers increased its position in Ambarella Inc (NASDAQ:AMBA) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,160 shares of the semiconductor company’s stock after buying an additional 1,364 shares during the quarter. Rhumbline Advisers’ holdings in Ambarella were worth $2,963,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley increased its holdings in Ambarella by 70.9% in the 2nd quarter. Morgan Stanley now owns 1,511,861 shares of the semiconductor company’s stock valued at $66,718,000 after purchasing an additional 627,318 shares in the last quarter. BlackRock Inc. increased its holdings in Ambarella by 25.6% in the 2nd quarter. BlackRock Inc. now owns 1,938,836 shares of the semiconductor company’s stock valued at $85,561,000 after purchasing an additional 394,967 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in Ambarella in the 2nd quarter valued at $13,819,000. D. E. Shaw & Co. Inc. increased its holdings in Ambarella by 1,164.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 257,492 shares of the semiconductor company’s stock valued at $11,364,000 after purchasing an additional 281,692 shares in the last quarter. Finally, Waddell & Reed Financial Inc. acquired a new stake in Ambarella in the 2nd quarter valued at $11,999,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on AMBA. Craig Hallum set a $62.00 target price on Ambarella and gave the company a “buy” rating in a research note on Friday, August 30th. KeyCorp restated a “hold” rating on shares of Ambarella in a research note on Tuesday, October 15th. Roth Capital reaffirmed a “hold” rating on shares of Ambarella in a research report on Tuesday, October 15th. TheStreet raised shares of Ambarella from a “d+” rating to a “c-” rating in a research report on Tuesday, September 10th. Finally, Bank of America set a $50.00 price target on shares of Ambarella and gave the stock a “sell” rating in a research report on Friday, August 30th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $59.56.

NASDAQ AMBA traded up $0.50 during trading hours on Tuesday, reaching $58.03. The company’s stock had a trading volume of 32,537 shares, compared to its average volume of 489,320. The company has a current ratio of 9.01, a quick ratio of 8.64 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $56.05 and a 200 day simple moving average of $49.75. Ambarella Inc has a 52 week low of $30.00 and a 52 week high of $67.15. The stock has a market cap of $1.85 billion, a PE ratio of -52.32 and a beta of 1.28.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Thursday, August 29th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.05. Ambarella had a negative net margin of 19.38% and a negative return on equity of 10.82%. The firm had revenue of $56.41 million for the quarter, compared to analysts’ expectations of $52.00 million. During the same quarter last year, the company posted $0.25 earnings per share. Ambarella’s revenue was down 9.7% on a year-over-year basis. As a group, equities analysts predict that Ambarella Inc will post -1.16 EPS for the current year.

In other news, Director Chenming Hu sold 10,000 shares of Ambarella stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $63.00, for a total transaction of $630,000.00. Following the sale, the director now owns 29,354 shares of the company’s stock, valued at $1,849,302. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Feng-Ming Wang sold 60,000 shares of Ambarella stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $59.18, for a total value of $3,550,800.00. Following the sale, the chief executive officer now directly owns 514,944 shares in the company, valued at approximately $30,474,385.92. The disclosure for this sale can be found here. Insiders sold 108,190 shares of company stock worth $6,628,959 in the last three months. 6.31% of the stock is currently owned by corporate insiders.

About Ambarella

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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