Greylin Investment Mangement Inc. increased its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,515 shares of the semiconductor company’s stock after buying an additional 785 shares during the period. Greylin Investment Mangement Inc. owned about 0.07% of Ambarella worth $1,093,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in AMBA. Victory Capital Management Inc. raised its stake in shares of Ambarella by 112.2% in the first quarter. Victory Capital Management Inc. now owns 1,903 shares of the semiconductor company’s stock worth $104,000 after buying an additional 1,006 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Ambarella during the first quarter worth $151,000. FNY Partners Fund LP bought a new stake in shares of Ambarella during the first quarter worth $164,000. Dubuque Bank & Trust Co. raised its stake in shares of Ambarella by 4.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,793 shares of the semiconductor company’s stock worth $184,000 after buying an additional 147 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Ambarella by 2.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,605 shares of the semiconductor company’s stock worth $197,000 after buying an additional 88 shares during the last quarter. 57.65% of the stock is currently owned by hedge funds and other institutional investors.
Ambarella, Inc. (AMBA) opened at 50.70 on Friday. The firm has a 50-day moving average of $50.30 and a 200 day moving average of $54.12. The stock has a market capitalization of $1.70 billion, a PE ratio of 29.96 and a beta of 1.61. Ambarella, Inc. has a one year low of $46.80 and a one year high of $74.95.
Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Tuesday, June 6th. The semiconductor company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. Ambarella had a net margin of 18.47% and a return on equity of 13.70%. The business had revenue of $64.10 million for the quarter, compared to analysts’ expectations of $63.54 million. During the same period last year, the business earned $0.34 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts anticipate that Ambarella, Inc. will post $2.07 earnings per share for the current fiscal year.
Ambarella declared that its Board of Directors has approved a stock buyback plan on Tuesday, June 6th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
A number of equities research analysts have recently weighed in on AMBA shares. Canaccord Genuity reaffirmed a “buy” rating and set a $72.00 target price on shares of Ambarella in a research note on Tuesday, July 11th. Stifel Nicolaus reissued a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of Ambarella in a research note on Wednesday, June 7th. Vetr lowered shares of Ambarella from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 31st. TheStreet lowered shares of Ambarella from a “b” rating to a “c+” rating in a research note on Tuesday, June 6th. Finally, Deutsche Bank AG dropped their price objective on shares of Ambarella from $55.00 to $54.00 and set a “hold” rating on the stock in a research note on Friday, June 9th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Ambarella currently has a consensus rating of “Buy” and an average target price of $67.88.
In related news, CEO Feng-Ming Wang sold 11,628 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $48.77, for a total value of $567,097.56. Following the completion of the transaction, the chief executive officer now directly owns 290,691 shares of the company’s stock, valued at approximately $14,177,000.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Leslie Kohn sold 5,973 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $48.77, for a total transaction of $291,303.21. Following the completion of the transaction, the insider now directly owns 904,530 shares of the company’s stock, valued at $44,113,928.10. The disclosure for this sale can be found here. Insiders sold a total of 23,963 shares of company stock worth $1,168,676 over the last 90 days. Company insiders own 5.80% of the company’s stock.
Ambarella Company Profile
Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.
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