Squarepoint Ops LLC Reduces Holdings in Ambarella, Inc. $AMBA

Squarepoint Ops LLC decreased its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 22.1% during the second quarter, HoldingsChannel reports. The firm owned 358,889 shares of the semiconductor company’s stock after selling 101,691 shares during the quarter. Squarepoint Ops LLC’s holdings in Ambarella were worth $30,793,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Essential Partners LLC raised its stake in Ambarella by 90.1% in the first quarter. Essential Partners LLC now owns 481 shares of the semiconductor company’s stock worth $25,000 after buying an additional 228 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Ambarella by 362.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 326 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in shares of Ambarella in the 1st quarter worth approximately $30,000. Financial Management Professionals Inc. purchased a new position in shares of Ambarella in the 2nd quarter valued at approximately $32,000. Finally, Advisory Services Network LLC bought a new stake in shares of Ambarella during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Insider Activity

In other Ambarella news, insider Chan W. Lee sold 2,951 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $67.87, for a total value of $200,284.37. Following the completion of the transaction, the insider owned 157,098 shares of the company’s stock, valued at approximately $10,662,241.26. The trade was a 1.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Chi-Hong Ju sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $88.84, for a total value of $888,400.00. Following the completion of the transaction, the vice president directly owned 155,924 shares of the company’s stock, valued at approximately $13,852,288.16. This trade represents a 6.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 58,519 shares of company stock valued at $4,595,475. Corporate insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

AMBA has been the subject of several recent research reports. Rosenblatt Securities reissued a “buy” rating and set a $120.00 price objective on shares of Ambarella in a research report on Monday, August 31st. Bank of America dropped their price objective on shares of Ambarella from $96.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, September 4th. Stifel Nicolaus decreased their target price on shares of Ambarella from $106.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, September 4th. Consumer Edge reiterated a “buy” rating on shares of Ambarella in a report on Friday, May 22nd. Finally, Roth Capital dropped their price target on Ambarella from $90.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $89.56.

Ambarella Trading Up 0.9%

AMBA stock opened at $63.48 on Wednesday. The stock’s 50 day simple moving average is $73.81 and its 200 day simple moving average is $68.17. Ambarella, Inc. has a 12-month low of $48.30 and a 12-month high of $96.69. The stock has a market capitalization of $2.78 billion, a PE ratio of -49.21 and a beta of 2.09.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Thursday, September 3rd. The semiconductor company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Ambarella had a negative return on equity of 10.12% and a negative net margin of 13.48%.The business had revenue of $108.12 million during the quarter, compared to analyst estimates of $107.76 million. During the same quarter last year, the company earned $0.15 EPS. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, research analysts predict that Ambarella, Inc. will post -1.13 earnings per share for the current year.

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.