Truvestments Capital LLC Purchases New Position in Ambarella, Inc. (NASDAQ:AMBA)

Truvestments Capital LLC purchased a new stake in shares of Ambarella, Inc. (NASDAQ:AMBA) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,223 shares of the semiconductor company’s stock, valued at approximately $69,000.

Several other institutional investors also recently bought and sold shares of AMBA. Point72 Asset Management L.P. raised its position in Ambarella by 1,556.9% during the second quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock valued at $27,353,000 after acquiring an additional 476,406 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Ambarella by 36.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after acquiring an additional 343,385 shares in the last quarter. Marshall Wace LLP raised its position in Ambarella by 69.2% during the second quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock valued at $33,090,000 after acquiring an additional 250,778 shares in the last quarter. Vanguard Group Inc. raised its position in Ambarella by 6.1% during the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock valued at $220,384,000 after acquiring an additional 248,297 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in Ambarella by 230.1% during the second quarter. Acadian Asset Management LLC now owns 172,444 shares of the semiconductor company’s stock valued at $9,299,000 after acquiring an additional 120,204 shares in the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ambarella news, COO Chan W. Lee sold 1,490 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $79,774.60. Following the sale, the chief operating officer now owns 121,406 shares in the company, valued at $6,500,077.24. This represents a 1.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Feng-Ming Wang sold 4,382 shares of the company’s stock in a transaction dated 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 owns 803,574 shares in the company, valued at approximately $45,016,215.48. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,423 shares of company stock worth $1,356,402 in the last quarter. 5.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

AMBA has been the subject of a number of recent analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research report on Friday, August 23rd. Morgan Stanley boosted their price objective on Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Susquehanna cut their price objective on Ambarella from $80.00 to $70.00 and set a “positive” rating for the company in a research report on Monday, October 21st. 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, Roth Mkm restated a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $74.09.

Ambarella Stock Up 1.7 %

Shares of Ambarella stock opened at $68.41 on Wednesday. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $69.55. The business’s fifty day simple moving average is $57.95 and its 200-day simple moving average is $54.73. The firm has a market cap of $2.82 billion, a PE ratio of -15.58 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 the consensus estimate 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 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 company posted ($0.76) EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities analysts expect that Ambarella, Inc. will post -3 earnings per share for the current year.

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.