Ambarella, Inc. $AMBA Shares Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lifted its position in Ambarella, Inc. (NASDAQ:AMBA) by 4.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 428,683 shares of the semiconductor company’s stock after purchasing an additional 19,837 shares during the period. Pinnacle Associates Ltd.’s holdings in Ambarella were worth $29,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in Ambarella by 49.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,586,082 shares of the semiconductor company’s stock valued at $81,644,000 after buying an additional 524,937 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Ambarella by 28.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 638,587 shares of the semiconductor company’s stock worth $32,866,000 after acquiring an additional 139,928 shares during the period. Bank of America Corp DE raised its holdings in Ambarella by 7.8% in the 1st quarter. Bank of America Corp DE now owns 481,758 shares of the semiconductor company’s stock worth $24,798,000 after acquiring an additional 34,843 shares during the period. Hawk Ridge Capital Management LP acquired a new position in Ambarella during the 1st quarter worth $14,212,000. Finally, Renaissance Technologies LLC acquired a new position in Ambarella during the 1st quarter worth $10,264,000. 82.09% of the stock is owned by institutional investors.

Insider Activity at Ambarella

In other news, insider Chan Lee sold 2,893 shares of the business’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $64.83, for a total transaction of $187,553.19. Following the transaction, the insider owned 154,443 shares in the company, valued at approximately $10,012,539.69. The trade was a 1.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Chi-Hong Ju sold 2,009 shares of the company’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $64.83, for a total transaction of $130,243.47. Following the transaction, the vice president directly owned 154,153 shares of the company’s stock, valued at $9,993,738.99. This represents a 1.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 16,260 shares of company stock worth $1,060,264. 4.50% of the stock is owned by company insiders.

Ambarella Trading Up 0.7%

Shares of AMBA stock opened at $63.22 on Wednesday. Ambarella, Inc. has a 1 year low of $48.30 and a 1 year high of $96.69. The firm’s fifty day simple moving average is $68.50 and its 200 day simple moving average is $70.18. The firm has a market capitalization of $2.79 billion, a P/E ratio of -49.01 and a beta of 2.38.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Thursday, September 3rd. The semiconductor company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Ambarella had a negative net margin of 13.48% and a negative return on equity of 10.03%. The firm had revenue of $108.12 million during the quarter, compared to the consensus estimate of $107.76 million. During the same period in the prior year, the firm earned $0.15 EPS. The business’s revenue was up 13.2% on a year-over-year basis. Equities research analysts anticipate that Ambarella, Inc. will post -1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Rosenblatt Securities restated a “buy” rating and set a $120.00 price target on shares of Ambarella in a report on Wednesday, September 16th. Stifel Nicolaus dropped their price objective on Ambarella from $106.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, September 4th. Bank of America dropped their price objective on Ambarella from $96.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, September 4th. Craig Hallum cut Ambarella from a “buy” rating to a “hold” rating and set a $70.00 price objective for the company. in a research report on Friday, September 4th. Finally, Needham & Company LLC restated a “buy” rating on shares of Ambarella in a research note on Friday, September 4th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $89.56.

Ambarella Company Profile

Ambarella, Inc (NASDAQ:AMBA) is a fabless semiconductor company that develops low-power system-on-chip (SoC) solutions for video processing, computer vision and artificial intelligence at the edge. Its technologies are designed to process and analyze visual data locally in devices, reducing the need to transmit data to centralized cloud systems.

The company’s product portfolio includes video-processing SoCs and its CVflow family of artificial intelligence processors. These products support applications such as security cameras, automotive cameras and advanced driver-assistance systems, robotics, industrial automation, consumer devices and other intelligent imaging systems.