Envestnet Asset Management Inc. Has $2.95 Million Stock Position in Ambarella, Inc. (NASDAQ:AMBA)

Envestnet Asset Management Inc. lifted its holdings in Ambarella, Inc. (NASDAQ:AMBA) by 3.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 54,743 shares of the semiconductor company’s stock after acquiring an additional 2,024 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ambarella were worth $2,953,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of AMBA. SWS Partners grew its position in shares of Ambarella by 25.3% during the 2nd quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock worth $4,290,000 after purchasing an additional 16,049 shares in the last quarter. Sei Investments Co. acquired a new stake in Ambarella during the first quarter worth approximately $571,000. Headlands Technologies LLC bought a new position in Ambarella during the 1st quarter worth $567,000. Duality Advisers LP raised its holdings in Ambarella by 67.9% in the 1st quarter. Duality Advisers LP now owns 34,292 shares of the semiconductor company’s stock valued at $1,741,000 after acquiring an additional 13,866 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Ambarella by 2,042.7% during the 1st quarter. Acadian Asset Management LLC now owns 52,240 shares of the semiconductor company’s stock valued at $2,648,000 after acquiring an additional 49,802 shares during the period. 82.09% of the stock is owned by institutional investors.

Ambarella Stock Performance

Shares of AMBA opened at $57.17 on Friday. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $65.88. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of -13.42 and a beta of 1.63. The stock has a fifty day moving average of $51.44 and a 200-day moving average of $51.55.

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

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 completion of the transaction, the vice president now owns 21,599 shares of the company’s stock, valued at $1,331,794.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Christopher Day sold 1,408 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $61.66, for a total value of $86,817.28. Following the completion of the sale, the vice president now directly owns 21,599 shares in the company, valued at $1,331,794.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Yun-Lung Chen sold 5,963 shares of Ambarella stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the transaction, the vice president now directly owns 62,026 shares in the company, valued at $3,570,216.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,927 shares of company stock worth $1,274,788. 5.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMBA. Bank of America raised their price target on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Morgan Stanley raised their target price on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Roth Mkm reaffirmed a “neutral” rating and set a $60.00 price target on shares of Ambarella in a report 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 report on Wednesday, August 28th. Finally, Stifel Nicolaus boosted their price objective on shares of Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Ambarella has an average rating of “Hold” and an average price target of $75.00.

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.