Mirabella Financial Services LLP Takes $1.53 Million Position in Ambarella, Inc. (NASDAQ:AMBA)

Mirabella Financial Services LLP bought a new position in Ambarella, Inc. (NASDAQ:AMBA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 28,224 shares of the semiconductor company’s stock, valued at approximately $1,530,000. Mirabella Financial Services LLP owned about 0.07% of Ambarella at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMBA. Point72 Asset Management L.P. boosted its holdings in Ambarella by 1,556.9% in the second quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock worth $27,353,000 after purchasing an additional 476,406 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Ambarella by 36.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock worth $69,698,000 after purchasing an additional 343,385 shares during the last quarter. Marshall Wace LLP boosted its holdings in Ambarella by 69.2% in the second quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after purchasing an additional 250,778 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Ambarella by 6.1% in the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after purchasing an additional 248,297 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Ambarella by 230.1% in the second quarter. Acadian Asset Management LLC now owns 172,444 shares of the semiconductor company’s stock worth $9,299,000 after purchasing an additional 120,204 shares during the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Ambarella Trading Up 2.1 %

AMBA stock opened at $64.98 on Monday. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $65.88. The company has a 50-day moving average price of $57.67 and a 200 day moving average price of $54.58. The stock has a market cap of $2.68 billion, a PE ratio of -15.04 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The firm had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $62.10 million. During the same period in the previous year, the company earned ($0.76) EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts forecast that Ambarella, Inc. will post -3 EPS for the current year.

Insider Buying and Selling

In other Ambarella news, VP Christopher Day sold 2,904 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total value of $168,432.00. Following the completion of the sale, the vice president now directly owns 18,466 shares of the company’s stock, valued at $1,071,028. The trade was a 13.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elizabeth M. Schwarting sold 913 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $54.74, for a total transaction of $49,977.62. Following the completion of the sale, the director now owns 8,155 shares of the company’s stock, valued at approximately $446,404.70. This represents a 10.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,423 shares of company stock valued at $1,356,402. Company insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Craig Hallum lifted their price target on shares of Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Ambarella in a research note on Wednesday, August 28th. TD Cowen lifted their price target on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Morgan Stanley raised their price objective on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Finally, Susquehanna reduced their target price on shares of Ambarella from $80.00 to $70.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Ambarella presently has a consensus rating of “Hold” and a consensus price target of $74.09.

Ambarella 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.