Pinnacle Associates Ltd. Grows Position in Ambarella, Inc. (NASDAQ:AMBA)

Pinnacle Associates Ltd. grew its stake in Ambarella, Inc. (NASDAQ:AMBA) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 485,838 shares of the semiconductor company’s stock after buying an additional 932 shares during the period. Pinnacle Associates Ltd. owned 1.19% of Ambarella worth $26,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ambarella by 2.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,207 shares of the semiconductor company’s stock worth $442,000 after buying an additional 195 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in Ambarella by 2.4% during the second quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock worth $539,000 after buying an additional 231 shares in the last quarter. Sheets Smith Wealth Management grew its position in Ambarella by 4.4% during the fourth quarter. Sheets Smith Wealth Management now owns 6,588 shares of the semiconductor company’s stock valued at $404,000 after buying an additional 275 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in Ambarella by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock valued at $945,000 after buying an additional 288 shares in the last quarter. Finally, CWM LLC raised its position in shares of Ambarella by 127.7% in the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 304 shares during the period. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on AMBA. Wells Fargo & Company dropped their target price on Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, May 31st. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research report on Friday, August 23rd. Westpark Capital reiterated a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. Bank of America boosted their price target on shares of Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a report on Wednesday. Finally, Craig Hallum increased their price objective on shares of Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Ambarella currently has an average rating of “Hold” and a consensus target price of $74.58.

Insider Activity at Ambarella

In other Ambarella news, VP Chi-Hong Ju sold 1,895 shares of Ambarella stock in a transaction on Monday, June 10th. The stock was sold at an average price of $57.50, for a total value of $108,962.50. Following the sale, the vice president now owns 180,252 shares in the company, valued at $10,364,490. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Chi-Hong Ju sold 1,895 shares of Ambarella stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $57.50, for a total value of $108,962.50. Following the completion of the sale, the vice president now owns 180,252 shares in the company, valued at approximately $10,364,490. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher Day sold 1,408 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $61.66, for a total value of $86,817.28. Following the transaction, the vice president now directly owns 21,599 shares in the company, valued at approximately $1,331,794.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,499 shares of company stock worth $1,137,787. Insiders own 5.70% of the company’s stock.

Ambarella Stock Performance

Shares of AMBA stock traded up $0.42 during trading hours on Friday, reaching $59.70. The company had a trading volume of 917,675 shares, compared to its average volume of 629,336. Ambarella, Inc. has a 12-month low of $39.69 and a 12-month high of $65.88. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -14.01 and a beta of 1.59. The stock has a fifty day moving average of $52.97 and a 200-day moving average of $51.65.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative return on equity of 24.86% and a negative net margin of 78.36%. The business had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. During the same period last year, the company earned ($0.76) EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts forecast 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.