Ambarella, Inc. (NASDAQ:AMBA) Shares Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd increased its stake in Ambarella, Inc. (NASDAQ:AMBA) by 592.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,883 shares of the semiconductor company’s stock after buying an additional 22,144 shares during the quarter. Dynamic Technology Lab Private Ltd owned about 0.06% of Ambarella worth $1,460,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Sei Investments Co. acquired a new position in shares of Ambarella in the first quarter worth about $571,000. Russell Investments Group Ltd. boosted its stake in shares of Ambarella by 43.5% during the 1st quarter. Russell Investments Group Ltd. now owns 24,610 shares of the semiconductor company’s stock valued at $1,249,000 after buying an additional 7,464 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Ambarella by 6.1% during the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after buying an additional 248,297 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Ambarella by 7.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,575 shares of the semiconductor company’s stock worth $1,045,000 after buying an additional 1,502 shares in the last quarter. Finally, Virtu Financial LLC increased its position in shares of Ambarella by 134.2% in the 1st quarter. Virtu Financial LLC now owns 13,837 shares of the semiconductor company’s stock worth $702,000 after purchasing an additional 7,928 shares during the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ambarella

In related news, VP Christopher Day sold 2,904 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total transaction of $168,432.00. Following the transaction, the vice president now directly owns 18,466 shares of the company’s stock, valued at approximately $1,071,028. The trade was a 13.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Yun-Lung Chen sold 5,963 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total value of $343,230.28. Following the completion of the transaction, the vice president now owns 62,026 shares in the company, valued at $3,570,216.56. This represents a 8.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,423 shares of company stock worth $1,356,402 in the last quarter. 5.70% of the stock is owned by company insiders.

Ambarella Stock Up 5.8 %

Shares of Ambarella stock opened at $67.29 on Tuesday. The business has a fifty day simple moving average of $57.67 and a 200-day simple moving average of $54.58. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -15.04 and a beta of 1.63. Ambarella, Inc. has a fifty-two week low of $39.69 and a fifty-two week high of $68.06.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. The business had revenue of $63.70 million during the quarter, compared to analyst estimates of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company posted ($0.76) EPS. Analysts anticipate that Ambarella, Inc. will post -3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AMBA shares. Bank of America upped their price objective on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Susquehanna reduced their price objective on Ambarella from $80.00 to $70.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. TD Cowen lifted their price objective on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus increased their price target on Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Morgan Stanley boosted their price objective on Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Ambarella currently has an average rating of “Hold” and an average target price of $74.09.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence 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.