Edgestream Partners L.P. Trims Stock Position in Ambarella, Inc. (NASDAQ:AMBA)

Edgestream Partners L.P. lowered its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 24.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 23,113 shares of the semiconductor company’s stock after selling 7,523 shares during the period. Edgestream Partners L.P. owned about 0.06% of Ambarella worth $1,173,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new position in shares of Ambarella during the 4th quarter valued at about $78,000. Daiwa Securities Group Inc. increased its stake in shares of Ambarella by 36.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,433 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 381 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Ambarella by 13,576.9% in the 1st quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock valued at $90,000 after purchasing an additional 1,765 shares in the last quarter. Wrapmanager Inc. purchased a new position in shares of Ambarella in the 4th quarter valued at about $210,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Ambarella in the 4th quarter valued at about $239,000. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AMBA shares. Morgan Stanley lifted their price target on Ambarella from $57.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Wells Fargo & Company cut their price target on Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a research note on Friday, May 31st. Roth Mkm cut their price target on Ambarella from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price target on shares of Ambarella in a research note on Tuesday, June 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $69.75.

Ambarella Trading Up 0.1 %

Shares of Ambarella stock traded up $0.07 on Tuesday, hitting $58.24. 38,021 shares of the company were exchanged, compared to its average volume of 587,980. The company has a 50-day moving average price of $55.19 and a 200 day moving average price of $52.82. Ambarella, Inc. has a 1-year low of $40.31 and a 1-year high of $84.71.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Thursday, May 30th. The semiconductor company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.09. The business had revenue of $54.47 million for the quarter, compared to analysts’ expectations of $54.04 million. Ambarella had a negative return on equity of 24.86% and a negative net margin of 78.36%. Analysts predict that Ambarella, Inc. will post -3.35 EPS for the current fiscal year.

Insider Activity at Ambarella

In related news, VP Chi-Hong Ju sold 1,895 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $57.50, for a total value of $108,962.50. Following the transaction, the vice president now directly owns 180,252 shares in the company, valued at $10,364,490. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Chi-Hong Ju sold 1,895 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $57.50, for a total value of $108,962.50. Following the transaction, the vice president now directly owns 180,252 shares in the company, valued at $10,364,490. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher Day sold 1,408 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the completion of the transaction, the vice president now owns 21,599 shares in the company, valued at $1,331,794.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,499 shares of company stock worth $1,137,787. Insiders own 5.70% of the company’s stock.

Ambarella Profile

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.