Stephens Investment Management Group LLC Sells 16,431 Shares of Ambarella, Inc. $AMBA

Stephens Investment Management Group LLC lowered its holdings in Ambarella, Inc. (NASDAQ:AMBA) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 477,498 shares of the semiconductor company’s stock after selling 16,431 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Ambarella were worth $39,403,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in Ambarella by 362.2% in the second quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 326 shares during the period. Total Investment Management Inc. bought a new position in Ambarella in the 2nd quarter worth $30,000. CoreCap Advisors LLC purchased a new stake in shares of Ambarella in the 3rd quarter worth about $43,000. Advisors Asset Management Inc. boosted its stake in shares of Ambarella by 44.1% during the 1st quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 286 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new position in shares of Ambarella during the second quarter valued at about $49,000. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Trading Up 6.4%

Ambarella stock opened at $68.73 on Friday. Ambarella, Inc. has a 12 month low of $38.86 and a 12 month high of $96.69. The business’s fifty day simple moving average is $76.17 and its two-hundred day simple moving average is $76.12. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of -36.56 and a beta of 1.95.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.06. Ambarella had a negative return on equity of 13.02% and a negative net margin of 21.31%.The firm had revenue of $108.45 million during the quarter, compared to analyst estimates of $104.11 million. During the same quarter in the previous year, the firm earned $0.11 EPS. Ambarella’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, equities research analysts predict that Ambarella, Inc. will post -2.81 EPS for the current year.

Insider Transactions at Ambarella

In other news, CFO John Alexander Young sold 3,791 shares of the 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 sale, the chief financial officer owned 102,738 shares in the company, valued at $7,495,764.48. This represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Chi-Hong Ju sold 7,728 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $75.58, for a total transaction of $584,082.24. Following the sale, the vice president directly owned 146,039 shares of the company’s stock, valued at $11,037,627.62. This trade represents a 5.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 27,685 shares of company stock valued at $2,016,598. 5.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on AMBA shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $80.00 price objective on shares of Ambarella in a research report on Wednesday, November 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Ambarella in a research report on Wednesday, October 8th. Summit Insights upgraded Ambarella from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th. Bank of America boosted their target price on shares of Ambarella from $90.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Ambarella in a research report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.00.

Ambarella Company 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.