Ambarella, Inc. $AMBA Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 49.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,586,082 shares of the semiconductor company’s stock after acquiring an additional 524,937 shares during the period. The Manufacturers Life Insurance Company owned 3.62% of Ambarella worth $81,644,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of AMBA. GSA Capital Partners LLP grew its position in Ambarella by 145.2% in the 4th quarter. GSA Capital Partners LLP now owns 24,800 shares of the semiconductor company’s stock worth $1,757,000 after purchasing an additional 14,685 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Ambarella by 18.4% in the fourth quarter. Legal & General Group Plc now owns 614,017 shares of the semiconductor company’s stock valued at $43,497,000 after purchasing an additional 95,218 shares during the period. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Ambarella during the fourth quarter valued at approximately $1,345,000. Leonteq Securities AG bought a new stake in shares of Ambarella during the fourth quarter valued at approximately $1,903,000. Finally, Vanguard Group Inc. boosted its position in shares of Ambarella by 6.0% during the fourth quarter. Vanguard Group Inc. now owns 5,480,285 shares of the semiconductor company’s stock worth $388,223,000 after buying an additional 311,649 shares during the period. Institutional investors and hedge funds own 82.09% of the company’s stock.

Insider Activity at Ambarella

In related news, CEO Feng-Ming Wang sold 32,500 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $91.01, for a total transaction of $2,957,825.00. Following the completion of the transaction, the chief executive officer owned 806,061 shares of the company’s stock, valued at $73,359,611.61. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John Alexander Young sold 5,033 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $67.54, for a total value of $339,928.82. Following the transaction, the chief financial officer directly owned 112,590 shares of the company’s stock, valued at $7,604,328.60. This represents a 4.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 91,419 shares of company stock worth $7,591,700 in the last quarter. Company insiders own 4.50% of the company’s stock.

Ambarella Price Performance

Ambarella stock opened at $69.19 on Thursday. The firm has a 50 day simple moving average of $72.78 and a 200-day simple moving average of $66.29. The stock has a market capitalization of $3.04 billion, a PE ratio of -42.97 and a beta of 2.11. Ambarella, Inc. has a 12-month low of $48.30 and a 12-month high of $96.69.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, May 28th. The semiconductor company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $100.36 million for the quarter, compared to analysts’ expectations of $100.12 million. Ambarella had a negative return on equity of 10.94% and a negative net margin of 17.18%.The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 earnings per share. On average, analysts forecast that Ambarella, Inc. will post -1.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Consumer Edge reissued a “buy” rating on shares of Ambarella in a report on Friday, May 22nd. Summit Insights downgraded Ambarella from a “buy” rating to a “hold” rating in a research note on Friday, May 29th. Stifel Nicolaus set a $106.00 price target on Ambarella in a research report on Friday, May 29th. Rosenblatt Securities increased their price target on Ambarella from $115.00 to $120.00 in a research note on Tuesday, June 30th. Finally, Bank of America raised their price target on Ambarella from $72.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Ambarella has a consensus rating of “Moderate Buy” and a consensus target price of $101.12.

About Ambarella

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.