Magnetar Financial LLC Invests $684,000 in Ambarella, Inc. (NASDAQ:AMBA)

Magnetar Financial LLC acquired a new position in Ambarella, Inc. (NASDAQ:AMBA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,685 shares of the semiconductor company’s stock, valued at approximately $684,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMBA. Meeder Asset Management Inc. purchased a new position in shares of Ambarella in the 2nd quarter worth about $26,000. CWM LLC boosted its holdings in shares of Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 304 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Ambarella by 62.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 552 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Ambarella by 13,576.9% in the 1st quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 1,765 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Ambarella in the 1st quarter valued at about $205,000. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AMBA shares. Craig Hallum boosted their target price on Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Wells Fargo & Company lowered their target price on Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a research note on Friday, May 31st. TD Cowen boosted their target price on Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research note on Friday, August 23rd. Finally, Westpark Capital reissued a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $75.00.

Ambarella Price Performance

AMBA opened at $54.27 on Wednesday. The business has a 50 day simple moving average of $51.64 and a two-hundred day simple moving average of $51.42. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of -12.74 and a beta of 1.63. Ambarella, Inc. has a one year low of $39.69 and a one year high of $65.88.

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

Insiders Place Their Bets

In other Ambarella news, VP Christopher Day sold 1,408 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $61.66, for a total transaction of $86,817.28. Following the transaction, the vice president now owns 21,599 shares in the company, valued at approximately $1,331,794.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ambarella news, VP Yun-Lung Chen sold 5,963 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the sale, the vice president now directly owns 62,026 shares of the company’s stock, valued at $3,570,216.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher Day sold 1,408 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the transaction, the vice president now owns 21,599 shares of the company’s stock, valued at $1,331,794.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,014 shares of company stock worth $1,224,810. Company insiders own 5.70% of the company’s stock.

About Ambarella

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.