Alliancebernstein L.P. reduced its stake in shares of Ambarella Inc (NASDAQ:AMBA) by 24.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 375,150 shares of the semiconductor company’s stock after selling 119,849 shares during the period. Alliancebernstein L.P. owned approximately 1.13% of Ambarella worth $22,040,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of AMBA. Victory Capital Management Inc. lifted its stake in shares of Ambarella by 53.4% during the third quarter. Victory Capital Management Inc. now owns 3,437 shares of the semiconductor company’s stock worth $168,000 after buying an additional 1,197 shares during the period. Turner Investments LLC acquired a new stake in shares of Ambarella during the third quarter worth $172,000. Aperio Group LLC acquired a new stake in shares of Ambarella during the third quarter worth $213,000. Belpointe Asset Management LLC purchased a new position in shares of Ambarella during the third quarter worth $216,000. Finally, Cowen Inc. purchased a new position in shares of Ambarella during the third quarter worth $294,000. Institutional investors and hedge funds own 69.82% of the company’s stock.
In other news, VP Yun-Lung Chen sold 4,435 shares of Ambarella stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $59.80, for a total value of $265,213.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 1,000 shares of Ambarella stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $54.87, for a total transaction of $54,870.00. Following the completion of the sale, the director now owns 15,302 shares in the company, valued at approximately $839,620.74. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by insiders.
AMBA has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating and set a $62.00 target price (up previously from $52.00) on shares of Ambarella in a report on Wednesday, November 22nd. Needham & Company LLC reissued a “hold” rating on shares of Ambarella in a report on Friday, December 1st. Oppenheimer reissued a “hold” rating on shares of Ambarella in a report on Friday, December 1st. Vetr raised shares of Ambarella from a “hold” rating to a “buy” rating and set a $61.51 target price for the company in a report on Tuesday, December 5th. Finally, BidaskClub cut shares of Ambarella from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $60.83.
Ambarella Inc (NASDAQ:AMBA) opened at $52.86 on Tuesday. Ambarella Inc has a fifty-two week low of $40.06 and a fifty-two week high of $66.23. The firm has a market cap of $1,806.55, a price-to-earnings ratio of 96.11, a price-to-earnings-growth ratio of 16.34 and a beta of 1.53.
Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Thursday, March 1st. The semiconductor company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. Ambarella had a net margin of 6.38% and a return on equity of 4.08%. The company had revenue of $70.60 million during the quarter, compared to analysts’ expectations of $70.26 million. During the same quarter in the previous year, the company earned $0.92 earnings per share. The firm’s revenue for the quarter was down 19.3% on a year-over-year basis. analysts predict that Ambarella Inc will post 0.22 earnings per share for the current fiscal year.
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Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD) video capture, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.
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