Geode Capital Management LLC Raises Holdings in Ambarella, Inc. $AMBA

Geode Capital Management LLC lifted its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA) by 3.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,020,527 shares of the semiconductor company’s stock after acquiring an additional 35,510 shares during the period. Geode Capital Management LLC owned approximately 2.37% of Ambarella worth $72,305,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AMBA. EverSource Wealth Advisors LLC grew its stake in shares of Ambarella by 362.2% during the second quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 326 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Ambarella during the third quarter worth about $33,000. Advisors Asset Management Inc. grew its stake in shares of Ambarella by 44.1% during the first quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 286 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Ambarella during the fourth quarter worth about $48,000. Finally, Rothschild Investment LLC grew its stake in shares of Ambarella by 78.1% during the third quarter. Rothschild Investment LLC now owns 641 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Insider Buying and Selling

In other Ambarella news, CFO John Alexander Young sold 4,577 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $52.77, for a total value of $241,528.29. Following the completion of the transaction, the chief financial officer directly owned 117,072 shares of the company’s stock, valued at approximately $6,177,889.44. The trade was a 3.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Feng-Ming Wang sold 32,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $91.01, for a total value of $2,957,825.00. Following the completion of the transaction, the chief executive officer directly owned 806,061 shares of the company’s stock, valued at $73,359,611.61. The trade was a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 86,799 shares of company stock valued at $5,877,902. Insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMBA shares. Stifel Nicolaus set a $106.00 price target on Ambarella in a research note on Friday, May 29th. Rosenblatt Securities restated a “buy” rating and set a $115.00 price target on shares of Ambarella in a research note on Tuesday, May 26th. Summit Insights lowered Ambarella from a “buy” rating to a “hold” rating in a research report on Friday, May 29th. Consumer Edge reiterated a “buy” rating on shares of Ambarella in a research report on Friday, May 22nd. Finally, Bank of America upped their target price on Ambarella from $72.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ambarella currently has an average rating of “Moderate Buy” and an average price target of $99.75.

Ambarella Stock Up 8.2%

Shares of NASDAQ AMBA opened at $68.72 on Tuesday. Ambarella, Inc. has a 52 week low of $48.30 and a 52 week high of $96.69. The firm has a market cap of $3.01 billion, a P/E ratio of -42.68 and a beta of 2.15. The business’s 50 day moving average price is $67.99 and its 200 day moving average price is $67.56.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. Ambarella had a negative return on equity of 10.94% and a negative net margin of 17.18%.The company had revenue of $100.36 million during the quarter, compared to the consensus estimate of $100.12 million. During the same period in the previous year, the company posted $0.07 earnings per share. Ambarella’s revenue for the quarter was up 16.9% on a year-over-year basis. As a group, research analysts expect that Ambarella, Inc. will post -1.27 earnings per share for the current year.

Ambarella Company Profile

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.