Ambarella, Inc. $AMBA Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA) by 17.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 566,830 shares of the semiconductor company’s stock after purchasing an additional 85,667 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.33% of Ambarella worth $46,775,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new stake in Ambarella during the second quarter valued at approximately $36,810,000. Barclays PLC grew its position in Ambarella by 121.7% in the third quarter. Barclays PLC now owns 775,113 shares of the semiconductor company’s stock worth $63,962,000 after buying an additional 425,546 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Ambarella by 894.7% in the second quarter. Balyasny Asset Management L.P. now owns 459,562 shares of the semiconductor company’s stock valued at $30,361,000 after buying an additional 413,362 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Ambarella by 977.6% in the third quarter. BNP Paribas Financial Markets now owns 227,205 shares of the semiconductor company’s stock valued at $18,749,000 after buying an additional 206,121 shares in the last quarter. Finally, Tributary Capital Management LLC lifted its position in shares of Ambarella by 88.5% during the 3rd quarter. Tributary Capital Management LLC now owns 423,790 shares of the semiconductor company’s stock valued at $34,971,000 after acquiring an additional 198,934 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

Wall Street Analyst Weigh In

AMBA has been the subject of several research reports. Wall Street Zen lowered Ambarella from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Roth Mkm reaffirmed a “neutral” rating on shares of Ambarella in a report on Wednesday, November 26th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Ambarella in a research report on Wednesday, November 26th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $80.00 price target on shares of Ambarella in a research note on Wednesday, November 26th. Finally, Rosenblatt Securities boosted their price objective on Ambarella from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.00.

Insider Transactions at Ambarella

In related news, Director Elizabeth M. Schwarting sold 624 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $72.38, for a total transaction of $45,165.12. Following the transaction, the director owned 6,690 shares of the company’s stock, valued at approximately $484,222.20. This trade represents a 8.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Alexander Young sold 3,791 shares of Ambarella stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $72.96, for a total transaction of $276,591.36. Following the completion of the sale, the chief financial officer owned 102,738 shares of the company’s stock, valued at $7,495,764.48. This trade represents a 3.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 77,685 shares of company stock valued at $5,056,598 in the last ninety days. 5.30% of the stock is currently owned by insiders.

Ambarella Trading Down 2.9%

Shares of NASDAQ:AMBA opened at $52.42 on Friday. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -29.45 and a beta of 1.95. Ambarella, Inc. has a 1 year low of $38.86 and a 1 year high of $96.69. The business has a fifty day simple moving average of $65.02 and a 200 day simple moving average of $75.17.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Thursday, February 26th. The semiconductor company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. The company had revenue of $100.87 million for the quarter, compared to analyst estimates of $100.17 million. Ambarella had a negative return on equity of 12.24% and a negative net margin of 19.42%.The business’s revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 EPS. On average, sell-side analysts forecast that Ambarella, Inc. will post -2.81 EPS for the current year.

Ambarella 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.