Ambarella, Inc. (NASDAQ:AMBA) Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC lessened its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 59.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,126 shares of the semiconductor company’s stock after selling 7,619 shares during the period. KG&L Capital Management LLC’s holdings in Ambarella were worth $277,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Kodai Capital Management LP acquired a new stake in shares of Ambarella during the fourth quarter worth $65,543,000. Norges Bank purchased a new position in Ambarella in the 4th quarter worth about $23,495,000. Vanguard Group Inc. raised its holdings in Ambarella by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after buying an additional 248,297 shares during the period. Pinnacle Associates Ltd. lifted its stake in Ambarella by 29.2% during the first quarter. Pinnacle Associates Ltd. now owns 484,906 shares of the semiconductor company’s stock valued at $24,619,000 after buying an additional 109,719 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Ambarella by 24.2% during 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 buying an additional 104,072 shares in the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

Insider Buying and Selling at Ambarella

In other news, VP Christopher Day sold 1,408 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $61.66, for a total transaction of $86,817.28. Following the transaction, the vice president now owns 21,599 shares in the company, valued at approximately $1,331,794.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ambarella news, VP Chi-Hong Ju sold 6,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $52.90, for a total value of $317,400.00. Following the completion of the sale, the vice president now owns 173,193 shares of the company’s stock, valued at $9,161,909.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher Day sold 1,408 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $61.66, for a total value of $86,817.28. Following the sale, the vice president now owns 21,599 shares of the company’s stock, valued at approximately $1,331,794.34. The disclosure for this sale can be found here. Insiders sold 20,499 shares of company stock worth $1,137,787 over the last ninety days. 5.70% of the stock is currently owned by insiders.

Ambarella Stock Performance

Shares of NASDAQ:AMBA traded down $0.53 during midday trading on Thursday, hitting $49.29. 46,677 shares of the stock were exchanged, compared to its average volume of 578,247. The business’s fifty day simple moving average is $53.20 and its two-hundred day simple moving average is $51.63. Ambarella, Inc. has a 52-week low of $39.69 and a 52-week high of $76.36. The company has a market capitalization of $2.02 billion, a PE ratio of -11.69 and a beta of 1.59.

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

Analysts Set New Price Targets

AMBA has been the topic of several analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research report on Tuesday, June 11th. Morgan Stanley boosted their target price on shares of Ambarella from $57.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Wells Fargo & Company reduced their target price on Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a report on Friday, May 31st. StockNews.com upgraded Ambarella to a “sell” rating in a report on Friday, April 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Ambarella in a research report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $69.75.

Ambarella Company Profile

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.