SG Americas Securities LLC Purchases 2,280 Shares of Ambarella, Inc. (AMBA)
SG Americas Securities LLC lifted its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 85.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,945 shares of the semiconductor company’s stock after buying an additional 2,280 shares during the period. SG Americas Securities LLC’s holdings in Ambarella were worth $240,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of AMBA. AXA acquired a new position in shares of Ambarella during the first quarter worth about $19,309,000. Rothschild Asset Management Inc. acquired a new position in Ambarella during the second quarter valued at approximately $16,083,000. Nomura Asset Management Co. Ltd. boosted its position in Ambarella by 2,572.7% during the first quarter. Nomura Asset Management Co. Ltd. now owns 294,000 shares of the semiconductor company’s stock valued at $16,085,000 after purchasing an additional 283,000 shares during the last quarter. Van Berkom & Associates Inc. boosted its position in Ambarella by 22.7% during the second quarter. Van Berkom & Associates Inc. now owns 1,235,483 shares of the semiconductor company’s stock valued at $59,983,000 after purchasing an additional 228,740 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its position in Ambarella by 69.0% during the second quarter. Rice Hall James & Associates LLC now owns 412,670 shares of the semiconductor company’s stock valued at $20,035,000 after purchasing an additional 168,476 shares during the last quarter. 57.06% of the stock is owned by institutional investors.
Several research analysts recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Ambarella in a research report on Friday, June 9th. ValuEngine raised Ambarella from a “sell” rating to a “hold” rating in a research report on Friday, September 8th. Dougherty & Co reduced their price target on Ambarella from $75.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, September 1st. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Ambarella in a research report on Friday, June 9th. Finally, Zacks Investment Research cut Ambarella from a “hold” rating to a “sell” rating in a research report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Ambarella has a consensus rating of “Hold” and an average target price of $58.23.
Shares of Ambarella, Inc. (NASDAQ AMBA) opened at 46.43 on Monday. Ambarella, Inc. has a 52-week low of $40.06 and a 52-week high of $74.95. The firm has a market capitalization of $1.54 billion, a PE ratio of 30.33 and a beta of 1.60. The stock has a 50 day moving average price of $49.50 and a 200-day moving average price of $53.28.
Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. Ambarella had a return on equity of 11.94% and a net margin of 16.45%. The firm had revenue of $71.63 million for the quarter, compared to the consensus estimate of $70.79 million. During the same quarter in the previous year, the business earned $0.54 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Equities analysts forecast that Ambarella, Inc. will post $1.89 EPS for the current year.
Ambarella declared that its board has approved a stock repurchase plan 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 plans are typically an indication that the company’s management believes its shares are undervalued.
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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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