Ambarella, Inc. (NASDAQ:AMBA) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 26.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,711 shares of the semiconductor company’s stock after selling 4,223 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ambarella were worth $661,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new stake in shares of Ambarella during the second quarter worth approximately $26,000. Blue Trust Inc. raised its position in Ambarella by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after buying an additional 321 shares during the last quarter. CWM LLC lifted its stake in shares of Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 304 shares during the period. Signaturefd LLC boosted its holdings in shares of Ambarella by 389.6% in the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 526 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Ambarella by 62.1% in the second quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock valued at $78,000 after acquiring an additional 552 shares in the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMBA. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Westpark Capital reissued a “buy” rating and issued a $85.00 price target on shares of Ambarella in a report on Monday, August 26th. Morgan Stanley upped their price objective on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Craig Hallum raised their target price on Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price target on shares of Ambarella in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.09.

Insider Transactions at Ambarella

In related news, VP Christopher Day sold 2,904 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total transaction of $168,432.00. Following the sale, the vice president now owns 18,466 shares of the company’s stock, valued at $1,071,028. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ambarella news, VP Yun-Lung Chen sold 5,963 shares of Ambarella stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total value of $343,230.28. Following the completion of the sale, the vice president now directly owns 62,026 shares of the company’s stock, valued at approximately $3,570,216.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher Day sold 2,904 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total value of $168,432.00. Following the transaction, the vice president now directly 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 sold a total of 24,423 shares of company stock valued at $1,356,402 over the last three months. 5.70% of the stock is currently owned by insiders.

Ambarella Trading Up 3.0 %

Shares of NASDAQ AMBA opened at $57.87 on Friday. The company’s 50-day moving average price is $56.19 and its 200 day moving average price is $52.93. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $65.88. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -13.40 and a beta of 1.62.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate 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 business had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. During the same period in the prior year, the business earned ($0.76) earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, research analysts expect that Ambarella, Inc. will post -3 earnings per share for the current year.

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.