Ambarella, Inc. (NASDAQ:AMBA) Stake Maintained by Bowen Hanes & Co. Inc.
Bowen Hanes & Co. Inc. maintained its position in Ambarella, Inc. (NASDAQ:AMBA) during the second quarter, Holdings Channel reports. The institutional investor owned 4,500 shares of the semiconductor company’s stock at the end of the second quarter. Bowen Hanes & Co. Inc.’s holdings in Ambarella were worth $218,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. increased its position in 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 in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Ambarella during the first quarter worth approximately $151,000. FNY Partners Fund LP acquired a new position in Ambarella during the first quarter worth approximately $164,000. Dubuque Bank & Trust Co. increased its position in Ambarella by 4.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,793 shares of the semiconductor company’s stock worth $184,000 after buying an additional 147 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in 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. Institutional investors own 57.65% of the company’s stock.
Shares of Ambarella, Inc. (NASDAQ:AMBA) opened at 50.90 on Monday. The company has a 50-day moving average of $49.91 and a 200 day moving average of $54.12. Ambarella, Inc. has a 52 week low of $46.80 and a 52 week high of $74.95. The firm has a market capitalization of $1.71 billion, a P/E ratio of 30.08 and a beta of 1.61.
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 Zacks’ consensus estimate of $0.36 by $0.03. Ambarella had a net margin of 18.47% and a return on equity of 13.70%. The business had revenue of $64.10 million during the quarter, compared to the consensus estimate of $63.54 million. During the same period in the prior year, the firm posted $0.34 EPS. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities research analysts anticipate that Ambarella, Inc. will post $2.07 earnings per share for the current year.
Ambarella announced that its Board of Directors has initiated a share buyback program on Tuesday, June 6th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the semiconductor company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.
A number of research firms have recently commented on AMBA. Deutsche Bank AG reduced their price objective on shares of Ambarella from $55.00 to $54.00 and set a “hold” rating for the company in a research note on Friday, June 9th. Vetr downgraded shares of Ambarella from a “strong-buy” rating to a “buy” rating and set a $62.50 price objective for the company. in a research note on Monday, May 1st. Stifel Nicolaus restated a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of Ambarella in a research note on Thursday, June 1st. Zacks Investment Research downgraded shares of Ambarella from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Ambarella in a research note on Friday, June 9th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $67.88.
In other Ambarella news, VP Christopher Day sold 1,526 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $48.77, for a total value of $74,423.02. Following the completion of the sale, the vice president now directly owns 22,892 shares of the company’s stock, valued at approximately $1,116,442.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Feng-Ming Wang sold 11,628 shares of the company’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $48.77, for a total transaction of $567,097.56. Following the completion of the sale, the chief executive officer now directly owns 290,691 shares of the company’s stock, valued at $14,177,000.07. The disclosure for this sale can be found here. Insiders sold a total of 23,963 shares of company stock valued at $1,168,676 over the last ninety days. 5.80% of the stock is currently owned by insiders.
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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