Granahan Investment Management LLC raised its holdings in Ambarella, Inc. (NASDAQ:AMBA – Get Rating) by 293.0% during the first quarter, Holdings Channel reports. The institutional investor owned 182,400 shares of the semiconductor company's stock after buying an additional 135,990 shares during the period. Granahan Investment Management LLC's holdings in Ambarella were worth $19,137,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of AMBA. BlackRock Inc. raised its stake in Ambarella by 14.9% in the first quarter. BlackRock Inc. now owns 4,028,021 shares of the semiconductor company's stock valued at $422,620,000 after buying an additional 522,698 shares in the last quarter. Renaissance Technologies LLC raised its stake in Ambarella by 127.3% in the first quarter. Renaissance Technologies LLC now owns 571,100 shares of the semiconductor company's stock valued at $59,920,000 after buying an additional 319,900 shares in the last quarter. Marshall Wace LLP raised its stake in Ambarella by 11,075.2% in the fourth quarter. Marshall Wace LLP now owns 309,665 shares of the semiconductor company's stock valued at $62,828,000 after buying an additional 306,894 shares in the last quarter. Robeco Schweiz AG acquired a new stake in Ambarella in the first quarter valued at $29,325,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in Ambarella in the first quarter valued at $17,784,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.
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Wall Street Analyst Weigh In
A number of analysts have recently commented on AMBA shares. Morgan Stanley cut their target price on Ambarella from $164.00 to $122.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 31st. Deutsche Bank Aktiengesellschaft cut their target price on Ambarella from $100.00 to $75.00 in a research report on Wednesday, July 20th. Wells Fargo & Company cut their target price on Ambarella to $105.00 in a research report on Tuesday. Craig Hallum cut their target price on Ambarella from $170.00 to $100.00 in a research report on Wednesday, June 1st. Finally, Stifel Nicolaus cut their target price on Ambarella from $100.00 to $94.00 and set a "buy" rating on the stock in a research report on Wednesday, August 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $125.13.
Ambarella Trading Up 3.9 %
Shares of AMBA opened at $71.13 on Friday. Ambarella, Inc. has a twelve month low of $60.50 and a twelve month high of $227.59. The stock's 50 day moving average is $77.51 and its two-hundred day moving average is $83.33. The firm has a market capitalization of $2.71 billion, a PE ratio of -62.39 and a beta of 1.52.
Ambarella (NASDAQ:AMBA – Get Rating) last announced its quarterly earnings data on Tuesday, August 30th. The semiconductor company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.01. Ambarella had a negative return on equity of 6.97% and a negative net margin of 12.14%. The company had revenue of $80.90 million for the quarter, compared to analyst estimates of $80.21 million. During the same quarter in the previous year, the company earned ($0.18) EPS. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, sell-side analysts predict that Ambarella, Inc. will post -1.48 EPS for the current year.
Insider Buying and Selling at Ambarella
In other Ambarella news, VP Christopher Day sold 704 shares of Ambarella stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $66.27, for a total value of $46,654.08. Following the sale, the vice president now owns 19,954 shares of the company's stock, valued at approximately $1,322,351.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Christopher Day sold 704 shares of the business's stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $66.27, for a total transaction of $46,654.08. Following the sale, the vice president now owns 19,954 shares of the company's stock, valued at approximately $1,322,351.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 750 shares of the business's stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $73.90, for a total value of $55,425.00. Following the sale, the director now directly owns 31,263 shares in the company, valued at approximately $2,310,335.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,297 shares of company stock valued at $688,055. 6.60% of the stock is owned by corporate insiders.
About Ambarella
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Ambarella, Inc develops semiconductor solutions for video that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.
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