SteelPeak Wealth LLC Has $756,000 Position in Ambarella, Inc. $AMBA

SteelPeak Wealth LLC raised its holdings in Ambarella, Inc. (NASDAQ:AMBA) by 194.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,691 shares of the semiconductor company’s stock after acquiring an additional 9,697 shares during the quarter. SteelPeak Wealth LLC’s holdings in Ambarella were worth $756,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in shares of Ambarella by 2,312.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 864,610 shares of the semiconductor company’s stock valued at $61,250,000 after acquiring an additional 828,773 shares during the last quarter. UBS Group AG lifted its stake in shares of Ambarella by 379.3% in the 3rd quarter. UBS Group AG now owns 821,747 shares of the semiconductor company’s stock valued at $67,811,000 after purchasing an additional 650,306 shares during the period. Squarepoint Ops LLC bought a new position in shares of Ambarella in the 2nd quarter worth $36,810,000. Balyasny Asset Management L.P. boosted its position in shares of Ambarella by 894.7% in the 2nd quarter. Balyasny Asset Management L.P. now owns 459,562 shares of the semiconductor company’s stock worth $30,361,000 after purchasing an additional 413,362 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. grew its stake in shares of Ambarella by 30.8% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 1,587,081 shares of the semiconductor company’s stock worth $112,429,000 after purchasing an additional 373,734 shares during the period. Institutional investors and hedge funds own 82.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on AMBA shares. Rosenblatt Securities upped their price objective on Ambarella from $115.00 to $120.00 in a report on Tuesday, June 30th. Consumer Edge restated a “buy” rating on shares of Ambarella in a report on Friday, May 22nd. Northland Securities set a $101.00 target price on Ambarella in a research report on Wednesday, June 17th. Summit Insights cut Ambarella from a “buy” rating to a “hold” rating in a research note on Friday, May 29th. Finally, Susquehanna increased their price target on shares of Ambarella from $80.00 to $110.00 and gave the company a “positive” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Ambarella has an average rating of “Moderate Buy” and an average target price of $101.12.

Insider Buying and Selling

In other news, VP Yun-Lung Chen sold 5,958 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $78.66, for a total transaction of $468,656.28. Following the sale, the vice president owned 60,557 shares of the company’s stock, valued at $4,763,413.62. This trade represents a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Chi-Hong Ju sold 10,000 shares of Ambarella stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $88.84, for a total value of $888,400.00. Following the transaction, the vice president owned 155,924 shares in the company, valued at $13,852,288.16. This trade represents a 6.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 93,390 shares of company stock valued at $7,709,960. 4.50% of the stock is owned by company insiders.

Ambarella Stock Down 2.3%

Shares of AMBA stock opened at $61.84 on Friday. Ambarella, Inc. has a 12-month low of $48.30 and a 12-month high of $96.69. The firm has a fifty day moving average of $74.58 and a 200-day moving average of $66.56. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of -38.41 and a beta of 2.11.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. The business had revenue of $100.36 million for the quarter, compared to the consensus estimate of $100.12 million. Ambarella had a negative return on equity of 10.94% and a negative net margin of 17.18%.The firm’s revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. Research analysts expect that Ambarella, Inc. will post -1.13 earnings per share for the current year.

About Ambarella

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.