Granite Investment Partners LLC Purchases 16,471 Shares of Ambarella, Inc. $AMBA

Granite Investment Partners LLC increased its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 59.3% during the first quarter, Holdings Channel reports. The institutional investor owned 44,240 shares of the semiconductor company’s stock after purchasing an additional 16,471 shares during the period. Granite Investment Partners LLC’s holdings in Ambarella were worth $2,277,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMBA. Price T Rowe Associates Inc. MD grew its stake in Ambarella by 2,312.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 864,610 shares of the semiconductor company’s stock valued at $61,250,000 after acquiring an additional 828,773 shares during the period. UBS Group AG raised its position in shares of Ambarella by 379.3% during the third quarter. UBS Group AG now owns 821,747 shares of the semiconductor company’s stock worth $67,811,000 after purchasing an additional 650,306 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Ambarella during the second quarter worth approximately $36,810,000. Balyasny Asset Management L.P. lifted its holdings in shares of Ambarella by 894.7% in the 2nd quarter. Balyasny Asset Management L.P. now owns 459,562 shares of the semiconductor company’s stock worth $30,361,000 after purchasing an additional 413,362 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. lifted its holdings in shares of Ambarella by 30.8% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 1,587,081 shares of the semiconductor company’s stock worth $112,429,000 after purchasing an additional 373,734 shares in the last quarter. Institutional investors own 82.09% of the company’s stock.

Ambarella Price Performance

Shares of AMBA stock opened at $78.38 on Friday. The firm has a 50-day moving average of $74.95 and a 200-day moving average of $66.63. The company has a market cap of $3.44 billion, a P/E ratio of -48.68 and a beta of 2.11. Ambarella, Inc. has a one year low of $48.30 and a one year high of $96.69.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. Ambarella had a negative net margin of 17.18% and a negative return on equity of 10.94%. The company had revenue of $100.36 million for the quarter, compared to analyst estimates of $100.12 million. During the same period last year, the firm earned $0.07 earnings per share. The firm’s revenue was up 16.9% on a year-over-year basis. As a group, research analysts expect that Ambarella, Inc. will post -1.13 earnings per share for the current fiscal year.

Insider Transactions at Ambarella

In other news, VP Chi-Hong Ju sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $88.84, for a total value of $888,400.00. Following the transaction, the vice president owned 155,924 shares in the company, valued at $13,852,288.16. The trade was a 6.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Yun-Lung Chen sold 9,856 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $67.06, for a total value of $660,943.36. Following the completion of the transaction, the vice president directly owned 66,515 shares of the company’s stock, valued at approximately $4,460,495.90. This represents a 12.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 87,432 shares of company stock worth $7,241,303. Company insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on AMBA shares. Consumer Edge restated a “buy” rating on shares of Ambarella in a research note on Friday, May 22nd. Stifel Nicolaus set a $106.00 price objective on shares of Ambarella in a report on Friday, May 29th. Summit Insights downgraded shares of Ambarella from a “buy” rating to a “hold” rating in a research report on Friday, May 29th. Bank of America boosted their target price on shares of Ambarella from $72.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Finally, Northland Securities set a $101.00 target price on shares of Ambarella in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.12.

Ambarella Company Profile

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.