Exchange Traded Concepts LLC Increases Stake in Ambarella, Inc. $AMBA

Exchange Traded Concepts LLC lifted its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 30.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 353,101 shares of the semiconductor company’s stock after acquiring an additional 81,668 shares during the period. Exchange Traded Concepts LLC’s holdings in Ambarella were worth $25,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of Ambarella by 362.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 326 shares during the period. Total Investment Management Inc. acquired a new stake in Ambarella during the second quarter valued at $30,000. Advisory Services Network LLC acquired a new stake in Ambarella during the third quarter valued at $33,000. CoreCap Advisors LLC purchased a new position in Ambarella in the third quarter valued at $43,000. Finally, Advisors Asset Management Inc. raised its position in shares of Ambarella by 44.1% in the first quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 286 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ambarella

In other Ambarella news, CFO John Alexander Young sold 4,577 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $52.77, for a total transaction of $241,528.29. Following the completion of the transaction, the chief financial officer owned 117,072 shares of the company’s stock, valued at $6,177,889.44. This represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Feng-Ming Wang sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $60.80, for a total value of $3,040,000.00. Following the completion of the transaction, the chief executive officer owned 768,979 shares in the company, valued at approximately $46,753,923.20. This trade represents a 6.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 113,421 shares of company stock valued at $6,652,254. 5.30% of the stock is owned by corporate insiders.

Ambarella Stock Performance

NASDAQ:AMBA opened at $50.47 on Friday. The stock has a market capitalization of $2.21 billion, a PE ratio of -28.35 and a beta of 1.95. Ambarella, Inc. has a fifty-two week low of $38.86 and a fifty-two week high of $96.69. The company has a fifty day moving average of $61.26 and a two-hundred day moving average of $73.31.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, February 26th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The business had revenue of $100.87 million for the quarter, compared to analyst estimates of $100.17 million. Ambarella had a negative net margin of 19.42% and a negative return on equity of 12.16%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.11 earnings per share. Research analysts forecast that Ambarella, Inc. will post -2.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AMBA shares. Rosenblatt Securities reissued a “buy” rating and set a $115.00 target price on shares of Ambarella in a research note on Monday, March 23rd. Consumer Edge restated a “buy” rating on shares of Ambarella in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ambarella in a report on Wednesday, January 21st. Finally, Wall Street Zen downgraded Ambarella from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.00.

About Ambarella

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.