Pinnacle Associates Ltd. Sells 11,636 Shares of Ambarella, Inc. $AMBA

Pinnacle Associates Ltd. trimmed its stake in Ambarella, Inc. (NASDAQ:AMBA) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 376,801 shares of the semiconductor company’s stock after selling 11,636 shares during the period. Pinnacle Associates Ltd.’s holdings in Ambarella were worth $31,094,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AMBA. Stephens Inc. AR raised its stake in Ambarella by 3.7% in the third quarter. Stephens Inc. AR now owns 3,804 shares of the semiconductor company’s stock worth $314,000 after buying an additional 137 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Ambarella by 3.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,537 shares of the semiconductor company’s stock valued at $374,000 after acquiring an additional 142 shares in the last quarter. Arizona State Retirement System boosted its position in Ambarella by 1.3% during the 3rd quarter. Arizona State Retirement System now owns 11,899 shares of the semiconductor company’s stock valued at $982,000 after acquiring an additional 157 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Ambarella by 4.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,160 shares of the semiconductor company’s stock worth $275,000 after acquiring an additional 196 shares during the period. Finally, Advisors Asset Management Inc. raised its position in shares of Ambarella by 21.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,134 shares of the semiconductor company’s stock worth $75,000 after acquiring an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Roth Mkm restated a “neutral” rating on shares of Ambarella in a research note on Wednesday, November 26th. Bank of America increased their price objective on shares of Ambarella from $90.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ambarella in a report on Wednesday, January 21st. Consumer Edge reiterated a “buy” rating on shares of Ambarella in a research note on Tuesday, February 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Ambarella in a report on Wednesday, November 26th. Two 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.00.

Insiders Place Their Bets

In related news, Director Christopher B. Paisley sold 500 shares of the business’s stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $72.18, for a total transaction of $36,090.00. Following the completion of the transaction, the director directly owned 41,279 shares in the company, valued at approximately $2,979,518.22. The trade was a 1.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Chi-Hong Ju sold 7,728 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $75.58, for a total transaction of $584,082.24. Following the completion of the sale, the vice president directly owned 146,039 shares of the company’s stock, valued at $11,037,627.62. This represents a 5.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 77,685 shares of company stock valued at $5,056,598. 5.70% of the stock is currently owned by corporate insiders.

Ambarella Price Performance

Shares of Ambarella stock opened at $52.38 on Monday. Ambarella, Inc. has a 1-year low of $38.86 and a 1-year high of $96.69. The company’s fifty day simple moving average is $66.38 and its 200-day simple moving average is $75.70. The stock has a market capitalization of $2.25 billion, a PE ratio of -29.43 and a beta of 1.95.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Thursday, February 26th. The semiconductor company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The firm had revenue of $100.87 million during the quarter, compared to analyst estimates of $100.17 million. Ambarella had a negative return on equity of 12.24% and a negative net margin of 19.42%.Ambarella’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 EPS. As a group, research analysts anticipate that Ambarella, Inc. will post -2.81 EPS 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.