Balyasny Asset Management LLC lowered its stake in Ambarella, Inc. (NASDAQ:AMBA) by 45.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,380 shares of the semiconductor company’s stock after selling 7,709 shares during the quarter. Balyasny Asset Management LLC’s holdings in Ambarella were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Bamco Inc. NY bought a new stake in shares of Ambarella during the 2nd quarter valued at about $1,554,000. Voya Investment Management LLC boosted its position in shares of Ambarella by 14.0% during the 2nd quarter. Voya Investment Management LLC now owns 14,966 shares of the semiconductor company’s stock valued at $727,000 after acquiring an additional 1,838 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Ambarella by 35.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 12,707 shares of the semiconductor company’s stock valued at $617,000 after acquiring an additional 3,347 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of Ambarella by 87.6% during the 2nd quarter. Quantbot Technologies LP now owns 9,832 shares of the semiconductor company’s stock valued at $477,000 after acquiring an additional 4,591 shares during the last quarter. Finally, K2 Principal Fund L.P. boosted its position in shares of Ambarella by 46.6% during the 2nd quarter. K2 Principal Fund L.P. now owns 70,000 shares of the semiconductor company’s stock valued at $3,399,000 after acquiring an additional 22,250 shares during the last quarter. Institutional investors and hedge funds own 57.09% of the company’s stock.
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In other Ambarella news, insider Leslie Kohn sold 6,467 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $46.50, for a total transaction of $300,715.50. Following the transaction, the insider now directly owns 907,645 shares in the company, valued at $42,205,492.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher Day sold 2,618 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $49.15, for a total value of $128,674.70. Following the transaction, the vice president now owns 20,377 shares in the company, valued at $1,001,529.55. The disclosure for this sale can be found here. Insiders have sold 27,835 shares of company stock worth $1,301,265 over the last 90 days. 5.80% of the stock is owned by insiders.
A number of brokerages have recently issued reports on AMBA. Morgan Stanley reiterated an “overweight” rating and set a $60.00 price target on shares of Ambarella in a research report on Wednesday, September 27th. Dougherty & Co dropped their target price on Ambarella from $75.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, September 1st. Stifel Nicolaus restated a “buy” rating and issued a $52.00 target price on shares of Ambarella in a research report on Saturday, September 23rd. Needham & Company LLC restated a “hold” rating on shares of Ambarella in a research report on Friday, September 1st. Finally, Zacks Investment Research upgraded Ambarella from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. Ambarella currently has a consensus rating of “Hold” and a consensus target price of $58.86.
Ambarella, Inc. (NASDAQ AMBA) opened at 54.94 on Friday. The stock’s 50 day moving average price is $48.90 and its 200 day moving average price is $52.21. The stock has a market capitalization of $1.82 billion, a PE ratio of 35.89 and a beta of 1.57. Ambarella, Inc. has a 1-year low of $40.06 and a 1-year high of $65.78.
Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Thursday, August 31st. The semiconductor company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. Ambarella had a return on equity of 11.94% and a net margin of 16.45%. The firm had revenue of $71.63 million for the quarter, compared to analysts’ expectations of $70.79 million. During the same period in the prior year, the firm posted $0.54 earnings per share. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities research analysts predict that Ambarella, Inc. will post $1.89 earnings per share for the current fiscal year.
Ambarella Company Profile
Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.
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