Royal Bank of Canada Sells 17,575 Shares of Ambarella, Inc. $AMBA

Royal Bank of Canada cut its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 63.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,267 shares of the semiconductor company’s stock after selling 17,575 shares during the quarter. Royal Bank of Canada’s holdings in Ambarella were worth $529,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AMBA. EverSource Wealth Advisors LLC boosted its stake in Ambarella by 362.2% in the second quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock worth $27,000 after buying an additional 326 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ambarella in the 1st quarter worth approximately $30,000. Advisory Services Network LLC bought a new stake in shares of Ambarella in the 3rd quarter worth approximately $33,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Ambarella by 162.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 525 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 325 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Ambarella by 44.1% in the 1st quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 286 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Stock Down 5.1%

Shares of Ambarella stock opened at $70.00 on Tuesday. The firm has a market cap of $3.07 billion, a PE ratio of -43.48 and a beta of 2.12. Ambarella, Inc. has a 12-month low of $48.30 and a 12-month high of $96.69. The company’s fifty day simple moving average is $74.04 and its two-hundred day simple moving average is $67.98.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $100.36 million during the quarter, compared to the consensus estimate of $100.12 million. Ambarella had a negative net margin of 17.18% and a negative return on equity of 10.94%. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 earnings per share. As a group, sell-side analysts expect that Ambarella, Inc. will post -1.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

AMBA has been the topic of a number of analyst reports. Weiss Ratings raised shares of Ambarella from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 10th. Rosenblatt Securities raised their price objective on Ambarella from $115.00 to $120.00 in a research note on Tuesday, June 30th. Summit Insights lowered Ambarella from a “buy” rating to a “hold” rating in a research note on Friday, May 29th. Consumer Edge restated a “buy” rating on shares of Ambarella in a report on Friday, May 22nd. Finally, Northland Securities set a $101.00 price target on Ambarella in a research report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.12.

Insider Activity at Ambarella

In other Ambarella news, CEO Feng-Ming Wang sold 16,250 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $90.08, for a total transaction of $1,463,800.00. Following the completion of the transaction, the chief executive officer owned 773,607 shares of the company’s stock, valued at $69,686,518.56. This represents a 2.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Chi-Hong Ju sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $88.84, for a total value of $888,400.00. Following the completion of the sale, the vice president owned 155,924 shares of the company’s stock, valued at approximately $13,852,288.16. This trade represents a 6.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 58,519 shares of company stock worth $4,595,475 over the last 90 days. 4.50% of the stock is owned by insiders.

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.