Fred Alger Management Inc. Maintains Position in Ambarella, Inc. (AMBA)
Fred Alger Management Inc. held its stake in Ambarella, Inc. (NASDAQ:AMBA) during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,500 shares of the semiconductor company’s stock at the end of the second quarter. Fred Alger Management Inc.’s holdings in Ambarella were worth $121,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of Ambarella by 112.2% in the 1st quarter. Victory Capital Management Inc. now owns 1,903 shares of the semiconductor company’s stock worth $104,000 after buying an additional 1,006 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Ambarella in the 1st quarter worth approximately $151,000. FNY Partners Fund LP purchased a new position in shares of Ambarella in the 1st quarter worth approximately $164,000. Dubuque Bank & Trust Co. boosted its stake in shares of Ambarella by 4.0% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 3,793 shares of the semiconductor company’s stock worth $184,000 after buying an additional 147 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Ambarella by 3.6% in the 2nd quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock worth $200,000 after buying an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 57.06% of the company’s stock.
In other Ambarella news, CEO Feng-Ming Wang sold 11,629 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $46.50, for a total value of $540,748.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher Day sold 1,529 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $46.50, for a total transaction of $71,098.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,835 shares of company stock valued at $1,301,265. 5.80% of the stock is owned by corporate insiders.
A number of equities analysts have recently weighed in on the company. Craig Hallum downgraded Ambarella from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research note on Friday, September 1st. Needham & Company LLC restated a “hold” rating on shares of Ambarella in a research note on Friday, September 1st. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Ambarella in a research note on Friday, September 1st. Canaccord Genuity cut their target price on Ambarella from $72.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, September 5th. Finally, Morgan Stanley restated an “overweight” rating and issued a $60.00 target price on shares of Ambarella in a research note on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $58.23.
Shares of Ambarella, Inc. (AMBA) opened at 50.93 on Wednesday. Ambarella, Inc. has a 52-week low of $40.06 and a 52-week high of $65.78. The firm’s 50 day moving average price is $48.13 and its 200 day moving average price is $52.33. The stock has a market cap of $1.69 billion, a P/E ratio of 33.27 and a beta of 1.57.
Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. The company had revenue of $71.63 million during the quarter, compared to analysts’ expectations of $70.79 million. Ambarella had a net margin of 16.45% and a return on equity of 11.94%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. On average, analysts expect that Ambarella, Inc. will post $1.89 EPS for the current year.
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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