Ambarella, Inc. $AMBA Shares Bought by Jericho Capital Asset Management L.P.

Jericho Capital Asset Management L.P. lifted its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 30.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,587,081 shares of the semiconductor company’s stock after acquiring an additional 373,734 shares during the period. Ambarella accounts for about 1.3% of Jericho Capital Asset Management L.P.’s investment portfolio, making the stock its 21st largest position. Jericho Capital Asset Management L.P. owned 3.69% of Ambarella worth $112,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of AMBA. GSA Capital Partners LLP boosted its holdings in shares of Ambarella by 145.2% in the 4th quarter. GSA Capital Partners LLP now owns 24,800 shares of the semiconductor company’s stock valued at $1,757,000 after purchasing an additional 14,685 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Ambarella by 18.4% during the 4th quarter. Legal & General Group Plc now owns 614,017 shares of the semiconductor company’s stock worth $43,497,000 after buying an additional 95,218 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of Ambarella in the 4th quarter worth $1,345,000. Leonteq Securities AG purchased a new position in shares of Ambarella in the 4th quarter worth $1,903,000. Finally, Handelsbanken Fonder AB boosted its holdings in Ambarella by 84.0% in the fourth quarter. Handelsbanken Fonder AB now owns 312,326 shares of the semiconductor company’s stock valued at $22,125,000 after acquiring an additional 142,551 shares during the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.

Ambarella Stock Down 1.8%

Shares of NASDAQ:AMBA opened at $65.88 on Thursday. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -40.92 and a beta of 2.15. The company has a 50 day moving average of $70.22 and a two-hundred day moving average of $66.71. Ambarella, Inc. has a 52-week low of $48.30 and a 52-week high of $96.69.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. Ambarella had a negative net margin of 17.18% and a negative return on equity of 10.94%. The firm had revenue of $100.36 million for the quarter, compared to the consensus estimate of $100.12 million. During the same quarter in the previous year, the firm posted $0.07 EPS. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. On average, equities analysts anticipate that Ambarella, Inc. will post -1.13 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Stifel Nicolaus set a $106.00 price target on Ambarella in a research note on Friday, May 29th. Summit Insights cut Ambarella from a “buy” rating to a “hold” rating in a report on Friday, May 29th. Northland Securities set a $101.00 target price on shares of Ambarella in a research report on Wednesday. Consumer Edge restated a “buy” rating on shares of Ambarella in a report on Friday, May 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 price target on shares of Ambarella in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ambarella currently has a consensus rating of “Moderate Buy” and an average price target of $100.50.

Insider Transactions at Ambarella

In other Ambarella news, CEO Feng-Ming Wang sold 32,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $91.01, for a total transaction of $2,957,825.00. Following the completion of the sale, the chief executive officer owned 806,061 shares in the company, valued at $73,359,611.61. This trade represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Yun-Lung Chen sold 9,856 shares of Ambarella stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $67.06, for a total value of $660,943.36. Following the sale, the vice president owned 66,515 shares in the company, valued at $4,460,495.90. This represents a 12.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 44,727 shares of company stock valued at $3,775,428. 4.50% of the stock is currently owned by insiders.

Ambarella Company 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.