Pinnacle Associates Ltd. Sells 17,579 Shares of Ambarella, Inc. $AMBA

Pinnacle Associates Ltd. lowered its position in Ambarella, Inc. (NASDAQ:AMBA) by 4.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 359,222 shares of the semiconductor company’s stock after selling 17,579 shares during the period. Pinnacle Associates Ltd. owned about 0.83% of Ambarella worth $25,447,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AMBA. EverSource Wealth Advisors LLC lifted its position in shares of Ambarella by 362.2% in the second quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 326 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Ambarella in the third quarter valued at about $33,000. CoreCap Advisors LLC purchased a new position in shares of Ambarella in the third quarter valued at about $43,000. Advisors Asset Management Inc. lifted its position in shares of Ambarella by 44.1% in the first quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 286 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Ambarella in the fourth quarter valued at about $48,000. Institutional investors own 82.09% of the company’s stock.

Ambarella Trading Up 5.0%

NASDAQ:AMBA opened at $82.10 on Thursday. The company has a market capitalization of $3.60 billion, a P/E ratio of -46.12 and a beta of 2.17. Ambarella, Inc. has a 12 month low of $48.30 and a 12 month high of $96.69. The business’s 50-day moving average is $58.64 and its 200 day moving average is $68.51.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Thursday, February 26th. The semiconductor company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Ambarella had a negative return on equity of 12.16% and a negative net margin of 19.42%.The company had revenue of $100.87 million for the quarter, compared to the consensus estimate of $100.17 million. During the same period in the previous year, the business earned $0.11 earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, research analysts forecast that Ambarella, Inc. will post -1.27 earnings per share for the current year.

Insider Buying and Selling at Ambarella

In other Ambarella news, CEO Feng-Ming Wang sold 50,000 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $60.80, for a total transaction of $3,040,000.00. Following the completion of the transaction, the chief executive officer owned 768,979 shares in the company, valued at $46,753,923.20. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chan W. Lee sold 6,729 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $52.77, for a total transaction of $355,089.33. Following the transaction, the insider owned 156,370 shares of the company’s stock, valued at $8,251,644.90. This trade represents a 4.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 103,899 shares of company stock worth $5,921,677 over the last three months. 5.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AMBA shares. Weiss Ratings restated a “sell (d-)” rating on shares of Ambarella in a research report on Wednesday, January 21st. Consumer Edge reaffirmed a “buy” rating on shares of Ambarella in a report on Tuesday, February 24th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 price objective on shares of Ambarella in a report on Monday, March 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.00.

Ambarella 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.