Rhumbline Advisers trimmed its position in Ambarella, Inc. (NASDAQ:AMBA) by 0.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 39,465 shares of the semiconductor company’s stock after selling 147 shares during the period. Rhumbline Advisers owned about 0.12% of Ambarella worth $1,916,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of AMBA. AXA purchased a new position in Ambarella in the first quarter valued at about $19,309,000. Rothschild Asset Management Inc. purchased a new position in Ambarella in the second quarter valued at about $16,083,000. Nomura Asset Management Co. Ltd. boosted its stake in Ambarella by 2,572.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 294,000 shares of the semiconductor company’s stock valued at $16,085,000 after acquiring an additional 283,000 shares during the last quarter. Van Berkom & Associates Inc. boosted its stake in Ambarella by 22.7% in the second quarter. Van Berkom & Associates Inc. now owns 1,235,483 shares of the semiconductor company’s stock valued at $59,983,000 after acquiring an additional 228,740 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in Ambarella by 69.0% in the second quarter. Rice Hall James & Associates LLC now owns 412,670 shares of the semiconductor company’s stock valued at $20,035,000 after acquiring an additional 168,476 shares during the last quarter. 56.74% of the stock is owned by institutional investors and hedge funds.
Shares of Ambarella, Inc. (NASDAQ AMBA) opened at 46.43 on Friday. The stock has a market capitalization of $1.54 billion, a PE ratio of 30.33 and a beta of 1.60. Ambarella, Inc. has a 52 week low of $40.06 and a 52 week high of $74.95. The company’s 50 day moving average is $49.50 and its 200-day moving average is $53.28.
Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. The company had revenue of $71.63 million during the quarter, compared to analyst estimates of $70.79 million. Ambarella had a net margin of 16.45% and a return on equity of 11.94%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 earnings per share. On average, equities analysts predict that Ambarella, Inc. will post $1.89 earnings per share for the current year.
Ambarella announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, June 6th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the semiconductor company to purchase up to 2.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
A number of research firms have weighed in on AMBA. ValuEngine upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a research note on Friday, September 8th. Morgan Stanley reiterated an “overweight” rating and issued a $60.00 target price on shares of Ambarella in a research note on Thursday, September 7th. Zacks Investment Research cut shares of Ambarella from a “hold” rating to a “sell” rating in a research note on Thursday, September 7th. Canaccord Genuity dropped their target price on shares of Ambarella from $72.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, September 5th. Finally, Roth Capital reiterated a “buy” rating and issued a $65.00 target price on shares of Ambarella in a research note on Thursday, August 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $58.23.
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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