Janney Montgomery Scott LLC lifted its position in Ambarella Inc (NASDAQ:AMBA) by 8.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,044 shares of the semiconductor company’s stock after purchasing an additional 789 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Ambarella were worth $631,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AMBA. Sheets Smith Wealth Management acquired a new position in shares of Ambarella in the 3rd quarter valued at $266,000. Rhumbline Advisers increased its position in shares of Ambarella by 3.0% in the 3rd quarter. Rhumbline Advisers now owns 47,160 shares of the semiconductor company’s stock valued at $2,963,000 after acquiring an additional 1,364 shares during the period. AdvisorNet Financial Inc increased its position in shares of Ambarella by 800.0% in the 3rd quarter. AdvisorNet Financial Inc now owns 1,800 shares of the semiconductor company’s stock valued at $113,000 after acquiring an additional 1,600 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of Ambarella in the 3rd quarter valued at $3,123,000. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Ambarella in the 3rd quarter valued at $943,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

AMBA has been the topic of several recent research reports. Zacks Investment Research raised shares of Ambarella from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Thursday, September 5th. ValuEngine lowered shares of Ambarella from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Dougherty & Co set a $59.00 price target on shares of Ambarella and gave the company a “buy” rating in a report on Friday, August 30th. KeyCorp reaffirmed a “hold” rating on shares of Ambarella in a report on Tuesday, October 15th. Finally, BidaskClub raised shares of Ambarella from a “sell” rating to a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $59.56.

In related news, VP Christopher Day sold 3,478 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $62.82, for a total value of $218,487.96. Following the transaction, the vice president now directly owns 8,305 shares of the company’s stock, valued at approximately $521,720.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Chenming Hu sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $63.00, for a total transaction of $630,000.00. Following the completion of the transaction, the director now directly owns 29,354 shares in the company, valued at $1,849,302. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,190 shares of company stock worth $6,628,959. Corporate insiders own 6.31% of the company’s stock.

Shares of AMBA stock traded down $0.54 during mid-day trading on Wednesday, hitting $57.91. 4,587 shares of the stock were exchanged, compared to its average volume of 614,749. The firm has a fifty day moving average of $55.93 and a 200 day moving average of $49.78. The company has a quick ratio of 8.64, a current ratio of 9.01 and a debt-to-equity ratio of 0.01. Ambarella Inc has a 52-week low of $30.00 and a 52-week high of $67.15. The company has a market cap of $1.85 billion, a PE ratio of -52.09 and a beta of 1.28.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Thursday, August 29th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, topping the 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 business had revenue of $56.41 million for the quarter, compared to analyst estimates of $52.00 million. During the same period in the prior year, the company posted $0.25 EPS. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. Equities analysts predict that Ambarella Inc will post -1.16 EPS for the current year.

Ambarella Profile

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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