Seven Eight Capital LP Has $756,000 Position in Ambarella, Inc. (NASDAQ:AMBA)

Seven Eight Capital LP lowered its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 30.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,011 shares of the semiconductor company’s stock after selling 6,270 shares during the quarter. Seven Eight Capital LP’s holdings in Ambarella were worth $756,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AMBA. Kodai Capital Management LP bought a new stake in shares of Ambarella in the 4th quarter valued at $65,543,000. Norges Bank acquired a new position in Ambarella in the fourth quarter valued at about $23,495,000. Vanguard Group Inc. increased its holdings in shares of Ambarella by 6.1% in the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after acquiring an additional 248,297 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Ambarella by 230.1% during the second quarter. Acadian Asset Management LLC now owns 172,444 shares of the semiconductor company’s stock worth $9,299,000 after purchasing an additional 120,204 shares during the period. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Ambarella by 29.2% during the 1st quarter. Pinnacle Associates Ltd. now owns 484,906 shares of the semiconductor company’s stock valued at $24,619,000 after purchasing an additional 109,719 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Ambarella Trading Down 2.5 %

AMBA opened at $54.40 on Friday. The stock’s fifty day simple moving average is $52.07 and its 200 day simple moving average is $51.49. Ambarella, Inc. has a 1-year low of $39.69 and a 1-year high of $65.88. The stock has a market cap of $2.23 billion, a PE ratio of -12.77 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The business had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. During the same quarter in the prior year, the business earned ($0.76) EPS. Ambarella’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts forecast that Ambarella, Inc. will post -2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

AMBA has been the topic of a number of research reports. TD Cowen lifted their price target on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. Craig Hallum lifted their price target on Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Bank of America upped their price target on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Finally, Wells Fargo & Company cut their price objective on shares of Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $75.00.

Insider Activity

In other Ambarella news, VP Chi-Hong Ju sold 6,000 shares of Ambarella stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $52.90, for a total value of $317,400.00. Following the completion of the sale, the vice president now owns 173,193 shares in the company, valued at approximately $9,161,909.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Yun-Lung Chen sold 5,963 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the completion of the transaction, the vice president now owns 62,026 shares of the company’s stock, valued at $3,570,216.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Chi-Hong Ju sold 6,000 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $52.90, for a total transaction of $317,400.00. Following the sale, the vice president now owns 173,193 shares in the company, valued at $9,161,909.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,014 shares of company stock valued at $1,542,210. 5.70% of the stock is owned by company insiders.

Ambarella Profile

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence 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.