Ambarella, Inc. (NASDAQ:AMBA) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 4.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,353,287 shares of the semiconductor company’s stock after acquiring an additional 61,387 shares during the quarter. The Manufacturers Life Insurance Company owned about 3.28% of Ambarella worth $76,332,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Mirabella Financial Services LLP acquired a new stake in Ambarella during the 3rd quarter valued at approximately $1,530,000. Truvestments Capital LLC acquired a new position in Ambarella during the third quarter valued at $69,000. Dynamic Technology Lab Private Ltd boosted its holdings in Ambarella by 592.2% in the third quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock valued at $1,460,000 after purchasing an additional 22,144 shares during the last quarter. Alpha DNA Investment Management LLC grew its position in Ambarella by 16.1% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 8,480 shares of the semiconductor company’s stock worth $478,000 after purchasing an additional 1,175 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of Ambarella by 6,014.3% during the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 842 shares during the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Ambarella Trading Up 5.9 %

Shares of Ambarella stock opened at $72.44 on Thursday. Ambarella, Inc. has a twelve month low of $39.69 and a twelve month high of $81.32. The firm’s 50-day moving average price is $58.23 and its 200 day moving average price is $54.89. The firm has a market capitalization of $2.99 billion, a PE ratio of -16.77 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last released its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The business had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. During the same quarter last year, the business posted ($0.76) earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts predict that Ambarella, Inc. will post -3 EPS for the current fiscal year.

Insider Buying and Selling at Ambarella

In related news, VP Yun-Lung Chen sold 5,963 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the completion of the sale, the vice president now owns 62,026 shares of the company’s stock, valued at approximately $3,570,216.56. This trade represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Feng-Ming Wang sold 4,382 shares of Ambarella stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $56.02, for a total value of $245,479.64. Following the transaction, the chief executive officer now owns 803,574 shares in the company, valued at approximately $45,016,215.48. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,423 shares of company stock worth $1,356,402. Corporate insiders own 5.70% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Westpark Capital reaffirmed a “buy” rating and set a $85.00 target price on shares of Ambarella in a report on Monday, August 26th. Craig Hallum lifted their target price on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen increased their price target on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Morgan Stanley raised their price target on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Stifel Nicolaus upped their price objective on shares of Ambarella from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $81.67.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.