Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ambarella Inc (NASDAQ:AMBA) by 142.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,469 shares of the semiconductor company’s stock after purchasing an additional 16,709 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.09% of Ambarella worth $1,101,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Alps Advisors Inc. bought a new position in Ambarella during the 2nd quarter worth approximately $264,000. Centaurus Financial Inc. bought a new position in Ambarella during the 2nd quarter worth approximately $280,000. OLD National Bancorp IN bought a new position in Ambarella during the 3rd quarter worth approximately $288,000. Krane Funds Advisors LLC lifted its holdings in Ambarella by 70.0% during the 2nd quarter. Krane Funds Advisors LLC now owns 7,630 shares of the semiconductor company’s stock worth $295,000 after buying an additional 3,142 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in Ambarella during the 3rd quarter worth approximately $328,000. 80.17% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Christopher B. Paisley sold 1,000 shares of the stock in a transaction that occurred on Tuesday, December 11th. The stock was sold at an average price of $40.00, for a total transaction of $40,000.00. Following the sale, the director now directly owns 18,997 shares in the company, valued at approximately $759,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Feng-Ming Wang sold 10,727 shares of the stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $35.56, for a total value of $381,452.12. The disclosure for this sale can be found here. Insiders have sold a total of 25,873 shares of company stock worth $934,017 over the last quarter. Insiders own 5.84% of the company’s stock.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Thursday, November 29th. The semiconductor company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The company had revenue of $57.30 million for the quarter, compared to analyst estimates of $57.12 million. Ambarella had a negative return on equity of 5.35% and a negative net margin of 9.97%. The firm’s revenue for the quarter was down 35.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. On average, research analysts anticipate that Ambarella Inc will post -1.02 earnings per share for the current year.
AMBA has been the topic of a number of research analyst reports. Roth Capital increased their target price on Ambarella to $40.00 and gave the stock a “neutral” rating in a report on Friday, November 30th. Zacks Investment Research reaffirmed a “hold” rating on shares of Ambarella in a report on Monday, November 12th. Bank of America downgraded Ambarella from a “neutral” rating to an “underperform” rating and set a $35.00 target price on the stock. in a report on Friday, August 31st. Stifel Nicolaus reduced their target price on Ambarella from $56.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Ambarella in a report on Friday, August 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $48.95.
Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.
See Also: SEC Filing
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