Commonwealth Equity Services LLC Cuts Stock Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Commonwealth Equity Services LLC decreased its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,315 shares of the semiconductor company’s stock after selling 460 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Ambarella were worth $287,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Ambarella by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock worth $43,171,000 after buying an additional 29,379 shares during the last quarter. Kodai Capital Management LP bought a new stake in Ambarella in the 4th quarter worth approximately $65,543,000. Norges Bank bought a new stake in Ambarella in the 4th quarter worth approximately $23,495,000. SWS Partners lifted its position in Ambarella by 25.3% in the 2nd quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock worth $4,290,000 after buying an additional 16,049 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in Ambarella in the 1st quarter worth approximately $571,000. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Insider Buying and Selling

In related news, COO Chan W. Lee sold 1,490 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $79,774.60. Following the sale, the chief operating officer now directly owns 121,406 shares of the company’s stock, valued at $6,500,077.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Feng-Ming Wang sold 4,382 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $56.02, for a total value of $245,479.64. Following the sale, the chief executive officer now directly owns 803,574 shares of the company’s stock, valued at $45,016,215.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Chan W. Lee sold 1,490 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $79,774.60. Following the completion of the sale, the chief operating officer now directly owns 121,406 shares in the company, valued at $6,500,077.24. The disclosure for this sale can be found here. Insiders have sold a total of 22,014 shares of company stock valued at $1,224,810 over the last ninety days. Company insiders own 5.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Morgan Stanley boosted their target price on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Westpark Capital reiterated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research report on Monday, August 26th. Wells Fargo & Company lowered their price objective on Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, May 31st. Bank of America boosted their price objective on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Finally, TD Cowen boosted their price objective on Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $75.00.

Ambarella Stock Up 0.3 %

Shares of Ambarella stock opened at $54.27 on Wednesday. The company has a market cap of $2.22 billion, a PE ratio of -12.74 and a beta of 1.63. The business has a 50 day moving average of $51.64 and a 200 day moving average of $51.42. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $65.88.

Ambarella (NASDAQ:AMBA) last announced its 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. The company had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.76) earnings per share. On average, research analysts anticipate that Ambarella, Inc. will post -2.99 earnings per share for the current year.

Ambarella Company 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.