US Bancorp DE Sells 10,365 Shares of Ambarella, Inc. $AMBA

US Bancorp DE reduced its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 75.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,291 shares of the semiconductor company’s stock after selling 10,365 shares during the period. US Bancorp DE’s holdings in Ambarella were worth $272,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Royal Bank of Canada lifted its position in Ambarella by 2.1% in the 1st quarter. Royal Bank of Canada now owns 64,744 shares of the semiconductor company’s stock valued at $3,258,000 after acquiring an additional 1,307 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Ambarella by 44.1% in 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 during the period. AQR Capital Management LLC raised its stake in shares of Ambarella by 126.6% in the 1st quarter. AQR Capital Management LLC now owns 84,871 shares of the semiconductor company’s stock valued at $4,272,000 after purchasing an additional 47,414 shares during the period. Empowered Funds LLC lifted its holdings in shares of Ambarella by 34.6% in the first quarter. Empowered Funds LLC now owns 6,838 shares of the semiconductor company’s stock valued at $344,000 after purchasing an additional 1,758 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of Ambarella by 48.1% during the first quarter. Intech Investment Management LLC now owns 25,586 shares of the semiconductor company’s stock worth $1,288,000 after buying an additional 8,306 shares during the period. Institutional investors own 82.09% of the company’s stock.

Insider Buying and Selling

In related news, insider Chan W. Lee sold 2,406 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $71.82, for a total value of $172,798.92. Following the completion of the sale, the insider directly owned 124,566 shares in the company, valued at approximately $8,946,330.12. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Chi-Hong Ju sold 7,728 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $75.58, for a total value of $584,082.24. Following the transaction, the vice president directly owned 146,039 shares in the company, valued at approximately $11,037,627.62. This trade represents a 5.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 77,685 shares of company stock worth $5,056,598 in the last 90 days. 5.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Bank of America lifted their target price on Ambarella from $90.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ambarella in a research note on Wednesday, January 21st. Roth Mkm reissued a “neutral” rating on shares of Ambarella in a research report on Wednesday, November 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $80.00 target price on shares of Ambarella in a research report on Wednesday, November 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Ambarella in a research note on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

Ambarella Stock Performance

NASDAQ:AMBA opened at $54.00 on Thursday. The stock has a market capitalization of $2.32 billion, a PE ratio of -30.34 and a beta of 1.95. Ambarella, Inc. has a 1-year low of $38.86 and a 1-year high of $96.69. The firm has a fifty day simple moving average of $65.39 and a 200 day simple moving average of $75.33.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Thursday, February 26th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. The firm had revenue of $100.87 million for the quarter, compared to analyst estimates of $100.17 million. Ambarella had a negative net margin of 19.42% and a negative return on equity of 12.24%. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 earnings per share. On average, equities analysts predict that Ambarella, Inc. will post -2.81 earnings per share for the current fiscal year.

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.