Rice Hall James & Associates LLC boosted its position in Ambarella, Inc. (NASDAQ:AMBA) by 69.0% during the second quarter, Holdings Channel reports. The fund owned 412,670 shares of the semiconductor company’s stock after buying an additional 168,476 shares during the period. Rice Hall James & Associates LLC’s holdings in Ambarella were worth $20,035,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Guggenheim Capital LLC increased its stake in Ambarella by 39.6% in the fourth quarter. Guggenheim Capital LLC now owns 14,173 shares of the semiconductor company’s stock worth $767,000 after buying an additional 4,021 shares during the last quarter. Norges Bank purchased a new stake in Ambarella during the fourth quarter worth approximately $6,696,000. Teachers Advisors LLC increased its stake in Ambarella by 60.3% in the fourth quarter. Teachers Advisors LLC now owns 265,381 shares of the semiconductor company’s stock worth $14,365,000 after buying an additional 99,777 shares during the last quarter. First National Bank of Omaha increased its stake in Ambarella by 53.9% in the first quarter. First National Bank of Omaha now owns 22,378 shares of the semiconductor company’s stock worth $1,224,000 after buying an additional 7,835 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Ambarella during the first quarter worth approximately $821,000. Institutional investors and hedge funds own 57.65% of the company’s stock.

Ambarella, Inc. (AMBA) opened at 50.70 on Friday. Ambarella, Inc. has a 52-week low of $46.80 and a 52-week high of $74.95. The firm has a 50-day moving average of $50.30 and a 200-day moving average of $54.12. The stock has a market capitalization of $1.70 billion, a PE ratio of 29.96 and a beta of 1.61.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Tuesday, June 6th. The semiconductor company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. The firm had revenue of $64.10 million for the quarter, compared to the consensus estimate of $63.54 million. Ambarella had a net margin of 18.47% and a return on equity of 13.70%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. On average, equities analysts expect that Ambarella, Inc. will post $2.07 EPS for the current year.

Ambarella declared that its Board of Directors has approved a stock repurchase program on Tuesday, June 6th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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AMBA has been the subject of a number of research analyst reports. Vetr downgraded Ambarella from a “strong-buy” rating to a “buy” rating and set a $62.50 price objective for the company. in a report on Monday, May 1st. Zacks Investment Research upgraded Ambarella from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Stifel Nicolaus restated a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of Ambarella in a report on Thursday, June 1st. Canaccord Genuity restated a “buy” rating and set a $72.00 price objective on shares of Ambarella in a report on Wednesday, June 7th. Finally, TheStreet downgraded Ambarella from a “b” rating to a “c+” rating in a report on Tuesday, June 6th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $67.88.

In related news, CFO George Laplante sold 4,836 shares of Ambarella stock in a transaction on Friday, June 16th. The shares were sold at an average price of $48.77, for a total value of $235,851.72. Following the transaction, the chief financial officer now owns 100,848 shares in the company, valued at approximately $4,918,356.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Feng-Ming Wang sold 11,628 shares of Ambarella stock in a transaction on 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 transaction, the chief executive officer now owns 290,691 shares in the company, valued at approximately $14,177,000.07. The disclosure for this sale can be found here. Insiders sold a total of 23,963 shares of company stock worth $1,168,676 in the last quarter. Insiders own 5.80% of the company’s stock.

About Ambarella

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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Institutional Ownership by Quarter for Ambarella (NASDAQ:AMBA)

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