Essex Investment Management Co. LLC Sells 1,795 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Essex Investment Management Co. LLC decreased its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,424 shares of the semiconductor company’s stock after selling 1,795 shares during the quarter. Essex Investment Management Co. LLC owned about 0.21% of Ambarella worth $4,818,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Ambarella by 6.1% during the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock valued at $220,384,000 after acquiring an additional 248,297 shares in the last quarter. Millennium Management LLC raised its stake in shares of Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock worth $78,091,000 after purchasing an additional 94,257 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Ambarella by 36.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after purchasing an additional 343,385 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Ambarella by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 683,119 shares of the semiconductor company’s stock valued at $36,854,000 after buying an additional 2,994 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in Ambarella by 69.2% in the 2nd quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after buying an additional 250,778 shares in the last quarter. 82.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on AMBA. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. Roth Mkm reissued a “neutral” rating and issued a $60.00 target price on shares of Ambarella in a report on Wednesday, August 28th. Craig Hallum boosted their price target on Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Westpark Capital reiterated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research note on Monday, August 26th. Finally, Bank of America boosted their target price on shares of Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $75.00.

Ambarella Stock Performance

NASDAQ AMBA traded up $0.82 during trading on Friday, hitting $59.64. The stock had a trading volume of 295,092 shares, compared to its average volume of 606,378. Ambarella, Inc. has a one year low of $39.69 and a one year high of $65.88. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -14.00 and a beta of 1.62. The stock has a 50 day simple moving average of $52.43 and a 200 day simple moving average of $51.92.

Ambarella (NASDAQ:AMBA) last released its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.76) earnings per share. On average, sell-side analysts predict that Ambarella, Inc. will post -3 EPS for the current year.

Insiders Place Their Bets

In related news, CFO John Alexander Young sold 2,139 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $114,522.06. Following the completion of the sale, the chief financial officer now owns 103,529 shares in the company, valued at approximately $5,542,942.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ambarella news, CFO John Alexander Young sold 2,139 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $114,522.06. Following the completion of the sale, the chief financial officer now directly owns 103,529 shares in the company, valued at approximately $5,542,942.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher Day sold 2,904 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total value of $168,432.00. Following the transaction, the vice president now owns 18,466 shares in the company, valued at approximately $1,071,028. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,423 shares of company stock worth $1,356,402 in the last three months. Corporate insiders own 5.70% of the company’s stock.

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.