Tributary Capital Management LLC Sells 36,482 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Tributary Capital Management LLC trimmed its position in Ambarella, Inc. (NASDAQ:AMBA) by 12.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,185 shares of the semiconductor company’s stock after selling 36,482 shares during the quarter. Tributary Capital Management LLC’s holdings in Ambarella were worth $14,055,000 at the end of the most recent quarter.

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

Ambarella Price Performance

Shares of AMBA stock opened at $57.75 on Monday. The business has a fifty day moving average of $55.21 and a 200 day moving average of $52.52. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $65.88. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -13.56 and a beta of 1.62.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Westpark Capital reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research note on Monday, August 26th. Roth Mkm reissued a “neutral” rating and set a $60.00 price target on shares of Ambarella in a research note on Wednesday, August 28th. Susquehanna cut their price target 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. Morgan Stanley increased their price target 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, Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Two investment 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, the stock has a consensus rating of “Hold” and a consensus price target of $74.09.

Insider Activity at Ambarella

In related news, VP Yun-Lung Chen sold 5,963 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total transaction of $343,230.28. Following the completion of the sale, the vice president now owns 62,026 shares of the company’s stock, valued at approximately $3,570,216.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ambarella news, VP Yun-Lung Chen sold 5,963 shares of the firm’s 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 transaction, the vice president now directly owns 62,026 shares of the company’s stock, valued at $3,570,216.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John Alexander Young sold 2,139 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $114,522.06. Following the completion of the sale, the chief financial officer now owns 103,529 shares of the company’s stock, valued at $5,542,942.66. This trade represents a 0.00 % decrease in their ownership of the stock. 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. 5.70% of the stock is owned by insiders.

About Ambarella

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.