Entropy Technologies LP, an institutional investor, has recently purchased a new stake in Ambarella, Inc. during the third quarter, according to the company’s filing with the Securities & Exchange Commission. The purchase consisted of 8,235 shares of Ambarella’s stock, valued at approximately $464,000.
Other institutional investors and hedge funds have also made changes to their positions in Ambarella. Versor Investments LP increased its stake in the semiconductor company by 5.9% during the third quarter, owning 4,619 shares valued at $261,000. State of New Jersey Common Pension Fund D boosted its holdings by 2.5%, now owning 38,780 shares worth $2,187,000. Van ECK Associates Corp saw a growth of 216.7% in its position, owning 4,563 shares valued at $264,000. Stephens Investment Management Group LLC raised its stake by 20.1%, now owning 501,036 shares valued at $28,261,000. Lastly, SteelPeak Wealth LLC increased its holdings by 45.5%, owning 12,204 shares worth $688,000. Institutional investors now own 82.09% of Ambarella’s stock.
Several equities research analysts have commented on AMBA shares. Craig Hallum increased their price target to $85.00 and gave the stock a “buy” rating. Needham & Company LLC reiterated a “buy” rating with a price target of $90.00. Westpark Capital also maintained a “buy” rating with a price target of $85.00. Bank of America, on the other hand, upped their price objective from $50.00 to $57.00 and gave the stock an “underperform” rating. Susquehanna decreased their target price to $70.00 and set a “positive” rating on the stock. Overall, Ambarella currently has a consensus rating of “Hold” and a consensus target price of $74.09, according to data from MarketBeat.com.
In terms of insider activity, CEO Feng-Ming Wang sold 4,382 shares of Ambarella’s stock at an average price of $56.02, totaling $245,479.64. Following this transaction, Wang now owns 803,574 shares valued at approximately $45,016,215.48, representing a 0.54% decrease in ownership. VP Yun-Lung Chen also sold 5,963 shares at an average price of $57.56, amounting to $343,230.28. Chen now holds 62,026 shares valued at around $3,570,216.56, reflecting an 8.77% decrease in their position. Insiders have sold a total of 24,423 shares worth $1,356,402 over the last 90 days, with corporate insiders owning 5.70% of the company’s stock.
Ambarella’s stock opened at $56.92 on NASDAQ on Friday. The company has a 12-month low of $39.69 and a 12-month high of $65.88. With a market cap of $2.35 billion, Ambarella has a price-to-earnings ratio of -13.17 and a beta of 1.63. The firm reported earnings per share (EPS) of ($0.13) for the last quarter, beating the consensus estimate of ($0.19) by $0.06. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The company’s revenue for the quarter was $63.70 million, up 2.6% compared to the same quarter last year. Analysts expect Ambarella to post -3 EPS for the current fiscal year.
