Raymond James Financial Services Advisors Inc. grew its position in Ambarella, Inc. (NASDAQ:AMBA) by 17.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,908 shares of the semiconductor company’s stock after purchasing an additional 734 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Ambarella were worth $238,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in AMBA. The Manufacturers Life Insurance Company raised its stake in Ambarella by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,951 shares of the semiconductor company’s stock worth $1,212,000 after acquiring an additional 376 shares in the last quarter. State Street Corp raised its stake in Ambarella by 5.9% during the 2nd quarter. State Street Corp now owns 595,044 shares of the semiconductor company’s stock worth $28,894,000 after acquiring an additional 33,237 shares in the last quarter. ETF Managers Group LLC acquired a new stake in Ambarella during the 2nd quarter worth $557,000. Royal Bank of Canada raised its stake in Ambarella by 899.5% during the 2nd quarter. Royal Bank of Canada now owns 215,463 shares of the semiconductor company’s stock worth $10,461,000 after acquiring an additional 193,906 shares in the last quarter. Finally, PDT Partners LLC raised its stake in Ambarella by 10.5% during the 2nd quarter. PDT Partners LLC now owns 126,620 shares of the semiconductor company’s stock worth $6,147,000 after acquiring an additional 12,020 shares in the last quarter. Institutional investors and hedge funds own 55.68% of the company’s stock.
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Shares of Ambarella, Inc. (NASDAQ:AMBA) opened at $56.45 on Friday. The firm has a market cap of $1,874.93, a PE ratio of 36.42, a PEG ratio of 5.98 and a beta of 1.59. Ambarella, Inc. has a fifty-two week low of $40.06 and a fifty-two week high of $65.78.
Ambarella (NASDAQ:AMBA) last issued its earnings results on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The business had revenue of $71.63 million for the quarter, compared to the consensus estimate of $70.79 million. Ambarella had a net margin of 16.45% and a return on equity of 11.94%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. analysts predict that Ambarella, Inc. will post 0.64 earnings per share for the current fiscal year.
In other news, CEO Feng-Ming Wang sold 11,629 shares of Ambarella stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $46.50, for a total value of $540,748.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Christopher Day sold 1,529 shares of Ambarella stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $46.50, for a total transaction of $71,098.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,835 shares of company stock worth $1,301,265. Insiders own 5.80% of the company’s stock.
Several equities research analysts recently commented on AMBA shares. Craig Hallum lowered shares of Ambarella from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research note on Friday, September 1st. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Ambarella in a research note on Friday, September 1st. Canaccord Genuity reiterated a “buy” rating and set a $65.00 price target (up from $58.00) on shares of Ambarella in a research note on Friday, October 13th. Morgan Stanley reiterated an “overweight” rating and set a $60.00 price target on shares of Ambarella in a research note on Thursday, September 7th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $52.00 price target (down from $64.00) on shares of Ambarella in a research note on Friday, August 25th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Ambarella currently has an average rating of “Hold” and a consensus price target of $58.86.
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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