US Bancorp DE Sells 10,365 Shares of Ambarella, Inc. $AMBA

US Bancorp DE trimmed its holdings in Ambarella, Inc. (NASDAQ:AMBA) by 75.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,291 shares of the semiconductor company’s stock after selling 10,365 shares during the quarter. US Bancorp DE’s holdings in Ambarella were worth $272,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMBA. EverSource Wealth Advisors LLC raised its stake in shares of Ambarella by 362.2% in the second 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 last quarter. Total Investment Management Inc. acquired a new stake in shares of Ambarella in the second quarter valued at approximately $30,000. CoreCap Advisors LLC acquired a new stake in shares of Ambarella in the third quarter valued at approximately $43,000. Advisors Asset Management Inc. raised its position in Ambarella by 44.1% in the 1st quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 286 shares during the last quarter. Finally, Virtus Advisers LLC bought a new position in Ambarella in the 2nd quarter worth approximately $49,000. Institutional investors own 82.09% of the company’s stock.

Insider Activity

In other news, VP Chi-Hong Ju sold 7,728 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $75.58, for a total value of $584,082.24. Following the completion of the transaction, the vice president owned 146,039 shares of the company’s stock, valued at $11,037,627.62. The trade was a 5.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John Alexander Young sold 3,791 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $72.96, for a total transaction of $276,591.36. Following the completion of the sale, the chief financial officer owned 102,738 shares of the company’s stock, valued at approximately $7,495,764.48. This represents a 3.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 77,685 shares of company stock valued at $5,056,598. 5.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus restated a “buy” rating and set a $100.00 target price (up from $90.00) on shares of Ambarella in a research report on Wednesday, November 26th. Summit Insights upgraded Ambarella from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 25th. Rosenblatt Securities raised their target price on shares of Ambarella from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Bank of America boosted their price target on shares of Ambarella from $90.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Finally, Consumer Edge reaffirmed a “buy” rating on shares of Ambarella in a research note on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

Ambarella Stock Performance

NASDAQ:AMBA opened at $54.00 on Thursday. Ambarella, Inc. has a 1-year low of $38.86 and a 1-year high of $96.69. The business’s 50-day moving average price is $65.39 and its two-hundred day moving average price is $75.33. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -30.34 and a beta of 1.95.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Thursday, February 26th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. The company 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%.The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 EPS. Sell-side analysts predict that Ambarella, Inc. will post -2.81 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.