Ambarella, Inc. (NASDAQ:AMBA) Stake Trimmed by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,291 shares of the semiconductor company’s stock after selling 1,019 shares during the period. Thrivent Financial for Lutherans owned about 0.07% of Ambarella worth $1,708,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in shares of Ambarella during the second quarter valued at approximately $26,000. Blue Trust Inc. grew its position in Ambarella by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 321 shares in the last quarter. CWM LLC grew its position in Ambarella by 127.7% during 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. Signaturefd LLC raised its stake in Ambarella by 389.6% during the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 526 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Ambarella by 62.1% in the second quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock valued at $78,000 after purchasing an additional 552 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Christopher Day sold 483 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $25,859.82. Following the sale, the vice president now owns 21,370 shares of the company’s stock, valued at $1,144,149.80. The trade was a 2.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Elizabeth M. Schwarting sold 913 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $54.74, for a total transaction of $49,977.62. Following the transaction, the director now owns 8,155 shares of the company’s stock, valued at approximately $446,404.70. This represents a 10.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,423 shares of company stock worth $1,356,402. 5.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price target on shares of Ambarella in a report on Friday, August 23rd. Roth Mkm reaffirmed a “neutral” rating and set a $60.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. Stifel Nicolaus upped their target price on Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America raised their price target on shares of Ambarella from $57.00 to $65.00 and gave the stock an “underperform” rating in a report on Wednesday. Finally, Westpark Capital reiterated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research note on Monday, August 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $81.67.

Ambarella Stock Down 1.2 %

Shares of AMBA stock opened at $71.55 on Friday. The business’s 50 day moving average is $59.27 and its two-hundred day moving average is $55.31. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $81.32. The company has a market cap of $2.95 billion, a PE ratio of -18.54 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last released 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. The business had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. Ambarella had a negative return on equity of 23.52% and a negative net margin of 62.38%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the business earned ($0.76) earnings per share. As a group, equities analysts expect that Ambarella, Inc. will post -3 EPS for the current fiscal year.

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.