Legato Capital Management LLC Acquires Shares of 14,648 Ambarella, Inc. (NASDAQ:AMBA)

Legato Capital Management LLC bought a new position in Ambarella, Inc. (NASDAQ:AMBA) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 14,648 shares of the semiconductor company’s stock, valued at approximately $790,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC grew its holdings in shares of Ambarella by 127.7% in the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 304 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Ambarella by 36.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,433 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 381 shares during the period. Larson Financial Group LLC lifted its stake in Ambarella by 13,576.9% in the first quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock valued at $90,000 after purchasing an additional 1,765 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Ambarella during the first quarter valued at $205,000. Finally, Wrapmanager Inc. purchased a new position in shares of Ambarella during the 4th quarter valued at $210,000. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMBA shares. TD Cowen boosted their target price on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday. Wells Fargo & Company reduced their price target on shares of Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, May 31st. Westpark Capital reiterated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research report on Monday. Roth Mkm dropped their price objective on Ambarella from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Finally, Morgan Stanley boosted their price objective on Ambarella from $57.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Ambarella has an average rating of “Hold” and an average price target of $71.69.

Insider Buying and Selling

In other Ambarella news, VP Christopher Day sold 1,408 shares of the business’s stock in a transaction that occurred 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 owns 21,599 shares in the company, valued at $1,331,794.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Christopher Day sold 1,408 shares of the stock in a transaction dated 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 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 SEC, which is accessible through the SEC website. Also, VP Chi-Hong Ju sold 2,296 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $56.79, for a total value of $130,389.84. Following the transaction, the vice president now owns 182,147 shares in the company, valued at approximately $10,344,128.13. The disclosure for this sale can be found here. Insiders have sold a total of 20,499 shares of company stock worth $1,137,787 in the last ninety days. 5.70% of the stock is owned by insiders.

Ambarella Stock Performance

AMBA stock opened at $52.79 on Wednesday. The company has a market capitalization of $2.16 billion, a PE ratio of -12.39 and a beta of 1.59. Ambarella, Inc. has a one year low of $39.69 and a one year high of $76.36. The company’s 50 day moving average price is $52.75 and its two-hundred day moving average price is $51.52.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The firm had revenue of $63.70 million for the quarter, compared to analysts’ expectations of $62.10 million. Ambarella had a negative return on equity of 24.86% and a negative net margin of 78.36%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.76) earnings per share. On average, research analysts predict that Ambarella, Inc. will post -3.35 EPS for the current year.

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.