Azzad Asset Management Inc. ADV Increases Stock Position in Ambarella, Inc. (NASDAQ:AMBA)

Azzad Asset Management Inc. ADV raised its holdings in Ambarella, Inc. (NASDAQ:AMBA) by 24.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,752 shares of the semiconductor company’s stock after purchasing an additional 1,901 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Ambarella were worth $495,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of Ambarella in the third quarter valued at about $66,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Ambarella in the fourth quarter valued at approximately $78,000. Daiwa Securities Group Inc. raised its position in shares of Ambarella by 36.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,433 shares of the semiconductor company’s stock valued at $88,000 after buying an additional 381 shares during the last quarter. Wrapmanager Inc. acquired a new position in shares of Ambarella in the fourth quarter valued at approximately $210,000. Finally, DMC Group LLC acquired a new position in shares of Ambarella in the fourth quarter valued at approximately $211,000. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Insider Transactions at Ambarella

In other news, VP Chi-Hong Ju sold 8,900 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $55.53, for a total value of $494,217.00. Following the completion of the transaction, the vice president now directly owns 179,193 shares in the company, valued at $9,950,587.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 19,091 shares of company stock valued at $1,050,969 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMBA. Morgan Stanley boosted their price objective on shares of Ambarella from $57.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a research report on Friday, May 31st. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research report on Tuesday, June 11th. StockNews.com raised shares of Ambarella to a “sell” rating in a research report on Friday, April 26th. Finally, Bank of America dropped their price target on shares of Ambarella from $62.00 to $50.00 and set an “underperform” rating for the company in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Ambarella has an average rating of “Hold” and an average price target of $69.75.

Ambarella Price Performance

Shares of Ambarella stock traded up $0.88 during trading hours on Wednesday, hitting $56.98. The company’s stock had a trading volume of 126,538 shares, compared to its average volume of 586,315. Ambarella, Inc. has a 1-year low of $40.31 and a 1-year high of $84.86. The business has a fifty day moving average of $51.19 and a 200 day moving average of $52.95.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Thursday, May 30th. The semiconductor company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.98) by $0.09. Ambarella had a negative net margin of 78.36% and a negative return on equity of 24.86%. The company had revenue of $54.47 million during the quarter, compared to analyst estimates of $54.04 million. As a group, analysts predict that Ambarella, Inc. will post -3.35 EPS 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.