Algert Global LLC Increases Position in Ambarella, Inc. (NASDAQ:AMBA)

Algert Global LLC increased its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 76.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,999 shares of the semiconductor company’s stock after buying an additional 41,094 shares during the quarter. Algert Global LLC owned about 0.23% of Ambarella worth $5,358,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AMBA. Vanguard Group Inc. raised its stake in shares of Ambarella by 6.1% during the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after purchasing an additional 248,297 shares during the last quarter. Millennium Management LLC increased its stake in Ambarella by 7.0% in the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after buying an additional 94,257 shares during the period. The Manufacturers Life Insurance Company raised its position in Ambarella by 36.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock worth $69,698,000 after buying an additional 343,385 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Ambarella by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 683,119 shares of the semiconductor company’s stock worth $36,854,000 after acquiring an additional 2,994 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of Ambarella by 69.2% in the second quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock valued at $33,090,000 after acquiring an additional 250,778 shares in the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

Ambarella Price Performance

Shares of NASDAQ AMBA opened at $63.62 on Monday. The company has a market cap of $2.63 billion, a PE ratio of -14.73 and a beta of 1.63. The company has a 50-day simple moving average of $57.67 and a 200-day simple moving average of $54.52. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $65.88.

Ambarella (NASDAQ:AMBA) last released its 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 firm had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. During the same period in the prior year, the business 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, analysts anticipate that Ambarella, Inc. will post -3 EPS for the current year.

Analyst Upgrades and Downgrades

AMBA has been the subject of a number of recent analyst reports. Bank of America raised their price objective on shares of Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Susquehanna lowered their price target on shares of Ambarella from $80.00 to $70.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. TD Cowen raised their price objective 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. Morgan Stanley upped their target price on shares of Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Finally, Stifel Nicolaus lifted their price target 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 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $74.09.

Insider Buying and Selling

In other Ambarella news, CFO John Alexander Young sold 2,139 shares of Ambarella stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $114,522.06. Following the transaction, the chief financial officer now directly owns 103,529 shares of the company’s stock, valued at $5,542,942.66. The trade was a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Yun-Lung Chen sold 5,963 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 62,026 shares in the company, valued at $3,570,216.56. This trade represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,423 shares of company stock valued at $1,356,402. Insiders own 5.70% of the company’s stock.

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.