Scopia Capital Management LP Sells 230,205 Shares of Ambarella, Inc. (NASDAQ:AMBA)
Scopia Capital Management LP decreased its position in shares of Ambarella, Inc. (NASDAQ:AMBA – Free Report) by 42.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 309,355 shares of the semiconductor company’s stock after selling 230,205 shares during the quarter. Ambarella comprises approximately 3.4% of Scopia Capital Management LP’s investment portfolio, making the stock its 13th biggest holding. Scopia Capital Management LP owned about 0.81% of Ambarella worth $25,884,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the company. Prudential Financial Inc. lifted its holdings in Ambarella by 4.9% during the second quarter. Prudential Financial Inc. now owns 3,406 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 159 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Ambarella by 5.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,715 shares of the semiconductor company’s stock valued at $390,000 after purchasing an additional 181 shares in the last quarter. US Bancorp DE grew its position in shares of Ambarella by 4.2% in the 2nd quarter. US Bancorp DE now owns 7,277 shares of the semiconductor company’s stock valued at $609,000 after purchasing an additional 290 shares during the period. Van ECK Associates Corp bought a new stake in Ambarella during the 2nd quarter worth approximately $25,000. Finally, Wrapmanager Inc. raised its holdings in Ambarella by 10.4% during the 1st quarter. Wrapmanager Inc. now owns 3,147 shares of the semiconductor company’s stock worth $244,000 after buying an additional 296 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.
Ambarella Trading Up 0.2 %
NASDAQ:AMBA traded up $0.13 on Friday, hitting $57.34. The company’s stock had a trading volume of 68,237 shares, compared to its average volume of 536,251. Ambarella, Inc. has a one year low of $43.59 and a one year high of $99.86. The firm has a market capitalization of $2.29 billion, a P/E ratio of -18.88 and a beta of 1.66. The stock has a fifty day moving average of $52.30 and a two-hundred day moving average of $66.20.
Ambarella (NASDAQ:AMBA – Get Free Report) last posted its earnings results on Thursday, November 30th. The semiconductor company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.11. Ambarella had a negative return on equity of 18.56% and a negative net margin of 46.45%. The business had revenue of $50.60 million for the quarter, compared to analyst estimates of $50.01 million. During the same period in the previous year, the firm earned ($0.33) EPS. The firm’s revenue was down 39.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ambarella, Inc. will post -3.6 EPS for the current year.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. Northland Securities started coverage on shares of Ambarella in a report on Monday, September 18th. They issued an “outperform” rating and a $70.00 price target for the company. Roth Mkm lowered their target price on Ambarella from $75.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, August 30th. Morgan Stanley boosted their target price on Ambarella from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, December 1st. StockNews.com raised shares of Ambarella to a “sell” rating in a research report on Friday, October 13th. Finally, Stifel Nicolaus decreased their target price on shares of Ambarella from $78.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $80.59.
Read Our Latest Report on Ambarella
Insider Buying and Selling at Ambarella
In related news, Director Elizabeth M. Schwarting sold 777 shares of Ambarella stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $58.57, for a total transaction of $45,508.89. Following the completion of the sale, the director now owns 7,208 shares of the company’s stock, valued at approximately $422,172.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Ambarella news, CFO Brian C. White sold 3,274 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $57.30, for a total transaction of $187,600.20. Following the transaction, the chief financial officer now owns 77,497 shares in the company, valued at approximately $4,440,578.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elizabeth M. Schwarting sold 777 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $58.57, for a total transaction of $45,508.89. Following the completion of the sale, the director now directly owns 7,208 shares of the company’s stock, valued at approximately $422,172.56. The disclosure for this sale can be found here. Insiders have sold a total of 10,576 shares of company stock worth $606,992 over the last ninety days. Insiders own 5.90% of the company’s stock.
Ambarella Company Profile (Free Report)
Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network processing worldwide. The company’s system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.
Further Reading
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