State of New Jersey Common Pension Fund D Sells 1,844 Shares of Ambarella, Inc. (NASDAQ:AMBA)


State of New Jersey Common Pension Fund D lessened its stake in shares of Ambarella, Inc. (NASDAQ:AMBAGet Rating) by 6.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 27,871 shares of the semiconductor company’s stock after selling 1,844 shares during the period. State of New Jersey Common Pension Fund D owned 0.07% of Ambarella worth $1,566,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AMBA. US Bancorp DE lifted its position in shares of Ambarella by 30.3% in the first quarter. US Bancorp DE now owns 2,605 shares of the semiconductor company’s stock valued at $274,000 after acquiring an additional 605 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Ambarella by 5.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,715 shares of the semiconductor company’s stock valued at $390,000 after acquiring an additional 181 shares in the last quarter. AlphaCrest Capital Management LLC lifted its position in shares of Ambarella by 33.9% in the first quarter. AlphaCrest Capital Management LLC now owns 3,054 shares of the semiconductor company’s stock valued at $320,000 after acquiring an additional 774 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Ambarella by 3.9% in the first quarter. Rhumbline Advisers now owns 37,241 shares of the semiconductor company’s stock valued at $3,907,000 after acquiring an additional 1,395 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Ambarella by 14.9% in the first quarter. BlackRock Inc. now owns 4,028,021 shares of the semiconductor company’s stock valued at $422,620,000 after acquiring an additional 522,698 shares in the last quarter. Institutional investors own 78.33% of the company’s stock.

Ambarella Stock Performance

Shares of NASDAQ AMBA opened at $86.03 on Friday. The business’s 50 day moving average price is $78.93 and its 200-day moving average price is $71.97. Ambarella, Inc. has a fifty-two week low of $49.02 and a fifty-two week high of $156.10. The company has a market cap of $3.33 billion, a price-to-earnings ratio of -51.51 and a beta of 1.48.

Ambarella (NASDAQ:AMBAGet Rating) last issued its quarterly earnings results on Thursday, December 1st. The semiconductor company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.12. The firm had revenue of $83.10 million for the quarter, compared to the consensus estimate of $83.03 million. Ambarella had a negative return on equity of 8.96% and a negative net margin of 18.42%. Sell-side analysts predict that Ambarella, Inc. will post -1.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMBA. Stifel Nicolaus boosted their price objective on Ambarella from $76.00 to $90.00 in a research report on Monday, November 21st. Roth Capital reiterated a “buy” rating and issued a $110.00 target price on shares of Ambarella in a research report on Friday, November 18th. Susquehanna initiated coverage on Ambarella in a research report on Monday, December 12th. They issued a “positive” rating and a $90.00 target price on the stock. Wells Fargo & Company decreased their target price on Ambarella from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Friday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Ambarella from $60.00 to $75.00 in a research note on Wednesday, December 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Ambarella presently has an average rating of “Moderate Buy” and a consensus target price of $100.35.

Insiders Place Their Bets

In other Ambarella news, VP Chi-Hong Ju sold 1,262 shares of the firm’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $83.77, for a total transaction of $105,717.74. Following the transaction, the vice president now directly owns 156,453 shares in the company, valued at approximately $13,106,067.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ambarella news, COO Chan W. Lee sold 2,055 shares of the stock in a transaction on Friday, December 16th. The stock was sold at an average price of $83.77, for a total transaction of $172,147.35. Following the sale, the chief operating officer now owns 66,891 shares of the company’s stock, valued at approximately $5,603,459.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Chi-Hong Ju sold 1,262 shares of the stock in a transaction on Friday, December 16th. The shares were sold at an average price of $83.77, for a total value of $105,717.74. Following the sale, the vice president now directly owns 156,453 shares in the company, valued at approximately $13,106,067.81. The disclosure for this sale can be found here. Insiders have sold 14,806 shares of company stock worth $1,248,448 in the last ninety days. 6.60% of the stock is owned by company insiders.

About Ambarella

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Ambarella, Inc develops semiconductor solutions for video that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network 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.

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Institutional Ownership by Quarter for Ambarella (NASDAQ:AMBA)



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