K.J. Harrison & Partners Inc Takes $708,000 Position in Ambarella, Inc. $AMBA

K.J. Harrison & Partners Inc bought a new stake in shares of Ambarella, Inc. (NASDAQ:AMBA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,000 shares of the semiconductor company’s stock, valued at approximately $708,000.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Ambarella by 6.0% during the fourth quarter. Vanguard Group Inc. now owns 5,480,285 shares of the semiconductor company’s stock valued at $388,223,000 after purchasing an additional 311,649 shares during the last quarter. State Street Corp lifted its holdings in shares of Ambarella by 8.9% during the second quarter. State Street Corp now owns 1,855,170 shares of the semiconductor company’s stock valued at $122,562,000 after purchasing an additional 151,694 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Ambarella by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,371,511 shares of the semiconductor company’s stock valued at $90,609,000 after purchasing an additional 52,954 shares during the last quarter. Jericho Capital Asset Management L.P. lifted its holdings in shares of Ambarella by 10.5% during the third quarter. Jericho Capital Asset Management L.P. now owns 1,213,347 shares of the semiconductor company’s stock valued at $100,125,000 after purchasing an additional 114,865 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of Ambarella by 379.3% during the third quarter. UBS Group AG now owns 821,747 shares of the semiconductor company’s stock valued at $67,811,000 after purchasing an additional 650,306 shares during the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Trading Down 1.6%

NASDAQ:AMBA opened at $74.27 on Friday. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -41.72 and a beta of 2.17. Ambarella, Inc. has a 1-year low of $48.30 and a 1-year high of $96.69. The business’s fifty day moving average price is $57.57 and its 200 day moving average price is $68.62.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Thursday, February 26th. The semiconductor company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm had revenue of $100.87 million for the quarter, compared to analyst estimates of $100.17 million. Ambarella had a negative return on equity of 12.16% and a negative net margin of 19.42%.Ambarella’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 earnings per share. Equities analysts forecast that Ambarella, Inc. will post -1.27 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO John Alexander Young sold 4,577 shares of the company’s stock in a transaction 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 transaction, the chief financial officer directly owned 117,072 shares of the company’s stock, valued at approximately $6,177,889.44. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Feng-Ming Wang sold 50,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 768,979 shares in the company, valued at $46,753,923.20. The trade was a 6.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 103,899 shares of company stock valued at $5,921,677 over the last ninety days. Corporate insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

AMBA has been the subject of several analyst reports. Consumer Edge reaffirmed a “buy” rating on shares of Ambarella in a report on Tuesday, February 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 target price on shares of Ambarella in a report on Monday, March 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ambarella in a report on Wednesday, January 21st. 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 stock. Based on data from MarketBeat.com, Ambarella currently has a consensus rating of “Moderate Buy” and an average target price of $96.00.

Ambarella Profile

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.