Ambarella, Inc. (NASDAQ:AMBA) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 22.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,840 shares of the semiconductor company’s stock after selling 11,229 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.09% of Ambarella worth $2,041,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AMBA. Azzad Asset Management Inc. ADV grew its position in Ambarella by 2.4% during the second quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock valued at $539,000 after buying an additional 231 shares during the period. Linden Thomas Advisory Services LLC grew its position in shares of Ambarella by 1.7% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock valued at $945,000 after acquiring an additional 288 shares during the period. CWM LLC grew its position in shares of Ambarella by 127.7% during the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 304 shares during the period. Principal Financial Group Inc. raised its holdings in Ambarella by 8.0% in the 1st quarter. Principal Financial Group Inc. now owns 4,882 shares of the semiconductor company’s stock worth $248,000 after purchasing an additional 363 shares during the period. Finally, Arizona State Retirement System raised its holdings in Ambarella by 3.7% in the 2nd quarter. Arizona State Retirement System now owns 10,893 shares of the semiconductor company’s stock worth $588,000 after purchasing an additional 385 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Price Performance

AMBA opened at $54.40 on Friday. The company’s 50 day simple moving average is $52.07 and its two-hundred day simple moving average is $51.52. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -12.77 and a beta of 1.63. Ambarella, Inc. has a 1-year low of $39.69 and a 1-year high of $65.88.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data 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. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The company had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. During the same quarter in the previous year, the company posted ($0.76) earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Ambarella, Inc. will post -2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AMBA has been the subject of a number of recent analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research report on Friday, August 23rd. Westpark Capital restated a “buy” rating and set a $85.00 price objective on shares of Ambarella in a research report on Monday, August 26th. Roth Mkm reaffirmed a “neutral” rating and set a $60.00 price objective on shares of Ambarella in a report on Wednesday, August 28th. Wells Fargo & Company cut their target price on shares of Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a research note on Friday, May 31st. Finally, TD Cowen raised their price target on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $75.00.

Insider Buying and Selling

In other news, VP Chi-Hong Ju sold 6,000 shares of Ambarella stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $52.90, for a total transaction of $317,400.00. Following the sale, the vice president now owns 173,193 shares of the company’s stock, valued at approximately $9,161,909.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Chi-Hong Ju sold 6,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $52.90, for a total transaction of $317,400.00. Following the completion of the transaction, the vice president now directly owns 173,193 shares in the company, valued at approximately $9,161,909.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Christopher Day sold 1,408 shares of the firm’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 directly owns 21,599 shares of the company’s stock, valued at $1,331,794.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,014 shares of company stock worth $1,542,210. Insiders own 5.70% of the company’s stock.

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.