Allspring Global Investments Holdings LLC Reduces Stock Position in Ambarella, Inc. (NASDAQ:AMBA)

Allspring Global Investments Holdings LLC lessened its position in Ambarella, Inc. (NASDAQ:AMBA) by 40.8% during the first quarter, Holdings Channel.com reports. The fund owned 80,028 shares of the semiconductor company’s stock after selling 55,090 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ambarella were worth $4,063,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Ambarella by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 4,092,534 shares of the semiconductor company’s stock worth $250,831,000 after purchasing an additional 69,864 shares during the last quarter. Kodai Capital Management LP bought a new stake in shares of Ambarella in the 4th quarter worth approximately $65,543,000. Dimensional Fund Advisors LP increased its stake in shares of Ambarella by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock valued at $43,171,000 after buying an additional 29,379 shares during the period. Rokos Capital Management LLP lifted its stake in Ambarella by 121.0% in the third quarter. Rokos Capital Management LLP now owns 649,574 shares of the semiconductor company’s stock worth $34,626,000 after acquiring an additional 355,689 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Ambarella by 24.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 533,964 shares of the semiconductor company’s stock valued at $32,727,000 after acquiring an additional 104,072 shares in the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Insider Activity

In related news, VP Chi-Hong Ju sold 1,895 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $57.50, for a total value of $108,962.50. Following the completion of the transaction, the vice president now directly owns 180,252 shares in the company, valued at approximately $10,364,490. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 19,091 shares of company stock worth $1,050,969 over the last 90 days. 5.70% of the stock is currently owned by insiders.

Ambarella Trading Up 1.5 %

Ambarella stock traded up $0.83 during mid-day trading on Tuesday, hitting $54.44. The company had a trading volume of 28,072 shares, compared to its average volume of 587,004. Ambarella, Inc. has a 12 month low of $40.31 and a 12 month high of $85.09. The stock’s 50 day moving average price is $50.90 and its two-hundred day moving average price is $53.00. The company has a market capitalization of $2.23 billion, a PE ratio of -12.72 and a beta of 1.59.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, May 30th. The semiconductor company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($0.98) by $0.09. The company had revenue of $54.47 million for the quarter, compared to the consensus estimate of $54.04 million. Ambarella had a negative net margin of 78.36% and a negative return on equity of 24.86%. Equities research analysts anticipate that Ambarella, Inc. will post -3.35 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on AMBA. Roth Mkm decreased their price objective on shares of Ambarella from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Ambarella in a research note on Friday, May 31st. StockNews.com upgraded shares of Ambarella to a “sell” rating in a report on Friday, April 26th. Wells Fargo & Company reduced their target price on Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, May 31st. Finally, Bank of America lowered their target price on Ambarella from $62.00 to $50.00 and set an “underperform” rating for the company in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $69.75.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence 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.