Redmond Asset Management LLC decreased its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 0.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,914 shares of the company’s stock after selling 20 shares during the period. Redmond Asset Management LLC owned 0.09% of Ambarella worth $1,565,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in AMBA. First Foundation Advisors purchased a new position in Ambarella during the second quarter valued at $203,000. Probity Advisors Inc. purchased a new position in Ambarella during the second quarter valued at $309,000. MUFG Securities EMEA plc boosted its position in Ambarella by 3.7% in the second quarter. MUFG Securities EMEA plc now owns 45,151 shares of the company’s stock valued at $2,294,000 after buying an additional 1,600 shares in the last quarter. Snow Capital Management LP purchased a new position in Ambarella during the second quarter valued at $1,198,000. Finally, BlackRock Advisors LLC boosted its position in Ambarella by 11.8% in the second quarter. BlackRock Advisors LLC now owns 19,974 shares of the company’s stock valued at $1,015,000 after buying an additional 2,115 shares in the last quarter. Institutional investors and hedge funds own 58.50% of the company’s stock.
Shares of Ambarella, Inc. (NASDAQ:AMBA) traded down 0.40% on Monday, hitting $54.30. The stock had a trading volume of 438,796 shares. The stock has a 50 day moving average of $52.09 and a 200 day moving average of $60.32. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 41.71 and a beta of 1.51. Ambarella, Inc. has a 12-month low of $35.26 and a 12-month high of $74.95.
Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Thursday, December 1st. The company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.17. Ambarella had a return on equity of 13.28% and a net margin of 15.32%. The firm had revenue of $100.50 million for the quarter, compared to analyst estimates of $97.30 million. During the same quarter last year, the company posted $1.08 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Equities analysts predict that Ambarella, Inc. will post $2.74 earnings per share for the current fiscal year.
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Several equities research analysts have recently issued reports on the company. Deutsche Bank AG reaffirmed a “hold” rating and issued a $65.00 price objective (down from $68.00) on shares of Ambarella in a research note on Sunday, December 4th. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Ambarella in a research note on Tuesday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Ambarella in a research note on Sunday, December 4th. Pacific Crest reaffirmed a “buy” rating and issued a $70.00 price objective (down from $75.00) on shares of Ambarella in a research note on Tuesday, November 29th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Ambarella in a research note on Tuesday, January 10th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $68.24.
In related news, insider Leslie Kohn sold 5,083 shares of the firm’s stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $54.21, for a total transaction of $275,549.43. Following the transaction, the insider now owns 897,712 shares of the company’s stock, valued at $48,664,967.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO George Laplante sold 4,476 shares of the firm’s stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $54.21, for a total value of $242,643.96. Following the transaction, the chief financial officer now directly owns 95,508 shares in the company, valued at approximately $5,177,488.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,236 shares of company stock worth $1,096,994. Corporate insiders own 5.43% of the company’s stock.
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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