SteelPeak Wealth LLC Purchases 9,697 Shares of Ambarella, Inc. $AMBA

SteelPeak Wealth LLC lifted its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 194.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,691 shares of the semiconductor company’s stock after purchasing an additional 9,697 shares during the quarter. SteelPeak Wealth LLC’s holdings in Ambarella were worth $756,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. GSA Capital Partners LLP boosted its stake in Ambarella by 145.2% during the fourth quarter. GSA Capital Partners LLP now owns 24,800 shares of the semiconductor company’s stock worth $1,757,000 after buying an additional 14,685 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Ambarella by 18.4% in the 4th quarter. Legal & General Group Plc now owns 614,017 shares of the semiconductor company’s stock valued at $43,497,000 after purchasing an additional 95,218 shares during the period. SBI Okasan Asset Management Co.Ltd. acquired a new position in Ambarella during the fourth quarter worth $1,345,000. Leonteq Securities AG acquired a new stake in shares of Ambarella during the 4th quarter worth about $1,903,000. Finally, Handelsbanken Fonder AB increased its holdings in shares of Ambarella by 84.0% during the fourth quarter. Handelsbanken Fonder AB now owns 312,326 shares of the semiconductor company’s stock worth $22,125,000 after buying an additional 142,551 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ambarella

In related news, VP Chi-Hong Ju sold 10,000 shares of the firm’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 transaction, the vice president owned 155,924 shares in the company, valued at $13,852,288.16. This trade represents a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Feng-Ming Wang sold 32,500 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $91.01, for a total value of $2,957,825.00. Following the completion of the transaction, the chief executive officer owned 806,061 shares in the company, valued at approximately $73,359,611.61. This represents a 3.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 93,390 shares of company stock valued at $7,709,960 over the last ninety days. Company insiders own 4.50% of the company’s stock.

Ambarella Price Performance

AMBA stock opened at $61.84 on Friday. The company has a 50 day moving average price of $74.58 and a 200 day moving average price of $66.56. Ambarella, Inc. has a fifty-two week low of $48.30 and a fifty-two week high of $96.69. The stock has a market capitalization of $2.71 billion, a PE ratio of -38.41 and a beta of 2.11.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $100.36 million for the quarter, compared to analyst estimates of $100.12 million. Ambarella had a negative return on equity of 10.94% and a negative net margin of 17.18%.The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period last year, the company earned $0.07 EPS. As a group, equities analysts expect that Ambarella, Inc. will post -1.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on AMBA shares. Consumer Edge reissued a “buy” rating on shares of Ambarella in a research note on Friday, May 22nd. Northland Securities set a $101.00 target price on Ambarella in a research note on Wednesday, June 17th. Susquehanna lifted their price target on Ambarella from $80.00 to $110.00 and gave the company a “positive” rating in a report on Friday, May 29th. Summit Insights downgraded shares of Ambarella from a “buy” rating to a “hold” rating in a research report on Friday, May 29th. Finally, Rosenblatt Securities increased their price objective on shares of Ambarella from $115.00 to $120.00 in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $101.12.

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.