Handelsbanken Fonder AB Sells 262,293 Shares of Ambarella, Inc. $AMBA

Handelsbanken Fonder AB trimmed its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA) by 66.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 134,397 shares of the semiconductor company’s stock after selling 262,293 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.31% of Ambarella worth $11,531,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Essential Partners LLC raised its position in Ambarella by 90.1% in the first quarter. Essential Partners LLC now owns 481 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 228 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Ambarella by 362.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 326 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ambarella during the 1st quarter valued at $30,000. Financial Management Professionals Inc. purchased a new stake in shares of Ambarella in the 2nd quarter worth $32,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Ambarella in the 3rd quarter worth $33,000. 82.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMBA has been the topic of several analyst reports. Bank of America lifted their target price on Ambarella from $72.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Susquehanna raised their price objective on Ambarella from $80.00 to $110.00 and gave the stock a “positive” rating in a research note on Friday, May 29th. Northland Securities set a $101.00 price objective on Ambarella in a research report on Wednesday, June 17th. Weiss Ratings raised shares of Ambarella from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 10th. Finally, Rosenblatt Securities raised their target price on shares of Ambarella from $115.00 to $120.00 in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.12.

Insider Buying and Selling

In other news, VP Yun-Lung Chen sold 9,856 shares of the business’s stock in a transaction 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 transaction, the vice president owned 66,515 shares of the company’s stock, valued at approximately $4,460,495.90. The trade was a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chan W. Lee sold 2,951 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $67.87, for a total transaction of $200,284.37. Following the transaction, the insider owned 157,098 shares of the company’s stock, valued at approximately $10,662,241.26. This represents a 1.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 91,419 shares of company stock worth $7,591,700 in the last quarter. 4.50% of the stock is owned by insiders.

Ambarella Stock Performance

Shares of AMBA stock opened at $81.96 on Friday. Ambarella, Inc. has a 52-week low of $48.30 and a 52-week high of $96.69. The firm has a market capitalization of $3.60 billion, a PE ratio of -50.91 and a beta of 2.12. The stock has a fifty day simple moving average of $72.80 and a two-hundred day simple moving average of $67.47.

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

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.