KCG Holdings Inc. acquired a new stake in shares of Ambarella, Inc. (NASDAQ:AMBA) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,189 shares of the semiconductor company’s stock, valued at approximately $284,000.
A number of other hedge funds have also recently made changes to their positions in AMBA. Victory Capital Management Inc. increased 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. acquired a new position in Ambarella during the first quarter worth about $151,000. Benjamin F. Edwards & Company Inc. increased its position in 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. Dubuque Bank & Trust Co. acquired a new position in Ambarella during the first quarter worth about $199,000. Finally, Laurion Capital Management LP acquired a new position in Ambarella during the first quarter worth about $213,000. 57.65% of the stock is currently owned by institutional investors.
Ambarella, Inc. (NASDAQ 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. Ambarella, Inc. has a one year low of $46.80 and a one year high of $74.95. The company has a market capitalization of $1.70 billion, a P/E ratio of 29.96 and a beta of 1.61.
Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Tuesday, June 6th. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. Ambarella had a return on equity of 13.70% and a net margin of 18.47%. The company had revenue of $64.10 million for the quarter, compared to analysts’ expectations of $63.54 million. During the same period last year, the firm earned $0.34 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts anticipate that Ambarella, Inc. will post $2.07 earnings per share for the current year.
Ambarella announced that its Board of Directors has initiated a stock buyback program on Tuesday, June 6th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the semiconductor company to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
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AMBA has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. TheStreet cut shares of Ambarella from a “b” rating to a “c+” rating in a research report on Tuesday, June 6th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Ambarella in a research report on Friday, June 9th. Deutsche Bank AG reduced their price target on shares of Ambarella from $55.00 to $54.00 and set a “hold” rating on the stock in a research report on Friday, June 9th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of Ambarella in a research report on Wednesday, June 7th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Ambarella presently has a consensus rating of “Buy” and an average target price of $67.88.
In other news, VP Christopher Day sold 1,526 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $48.77, for a total value of $74,423.02. Following the completion of the sale, the vice president now owns 22,892 shares of the company’s stock, valued at $1,116,442.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO George Laplante sold 4,836 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $48.77, for a total value of $235,851.72. Following the completion of the sale, the chief financial officer now directly owns 100,848 shares of the company’s stock, valued at approximately $4,918,356.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,963 shares of company stock worth $1,168,676. 5.80% of the stock is owned by insiders.
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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