Mirabella Financial Services LLP Takes Position in Ambarella, Inc. (NASDAQ:AMBA)

Mirabella Financial Services LLP purchased a new position in shares of Ambarella, Inc. (NASDAQ:AMBA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,224 shares of the semiconductor company’s stock, valued at approximately $1,530,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in Ambarella during the third quarter worth $69,000. Dynamic Technology Lab Private Ltd boosted its holdings in Ambarella by 592.2% during the third quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock worth $1,460,000 after buying an additional 22,144 shares in the last quarter. Alpha DNA Investment Management LLC boosted its holdings in Ambarella by 16.1% during the third quarter. Alpha DNA Investment Management LLC now owns 8,480 shares of the semiconductor company’s stock worth $478,000 after buying an additional 1,175 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Ambarella by 6,014.3% during the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after buying an additional 842 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in Ambarella by 76.2% during the third quarter. Algert Global LLC now owns 94,999 shares of the semiconductor company’s stock valued at $5,358,000 after purchasing an additional 41,094 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Yun-Lung Chen sold 5,963 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,570,216.56. This trade represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Feng-Ming Wang sold 4,382 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $56.02, for a total transaction of $245,479.64. Following the completion of the transaction, the chief executive officer now directly owns 803,574 shares of the company’s stock, valued at approximately $45,016,215.48. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,423 shares of company stock valued at $1,356,402. 5.70% of the stock is currently owned by company insiders.

Ambarella Price Performance

Shares of AMBA stock opened at $64.98 on Monday. The firm has a market cap of $2.68 billion, a PE ratio of -15.04 and a beta of 1.63. The company has a 50-day moving average of $57.67 and a two-hundred day moving average of $54.58. Ambarella, Inc. has a 1-year low of $39.69 and a 1-year high of $65.88.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Ambarella in a report on Friday, August 23rd. Roth Mkm restated a “neutral” rating and set a $60.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Bank of America raised their price objective on shares of Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Stifel Nicolaus raised their price objective on shares of 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 raised their price objective on shares of Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $74.09.

Ambarella Company Profile

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.