Truvestments Capital LLC Acquires Shares of 1,223 Ambarella, Inc. (NASDAQ:AMBA)

Truvestments Capital LLC acquired a new stake in Ambarella, Inc. (NASDAQ:AMBA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,223 shares of the semiconductor company’s stock, valued at approximately $69,000.

Several other hedge funds also recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd grew its position in Ambarella by 592.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock valued at $1,460,000 after acquiring an additional 22,144 shares during the last quarter. Alpha DNA Investment Management LLC grew its position in Ambarella by 16.1% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 8,480 shares of the semiconductor company’s stock valued at $478,000 after acquiring an additional 1,175 shares during the last quarter. Larson Financial Group LLC grew its position in Ambarella by 6,014.3% in the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 842 shares during the last quarter. Algert Global LLC grew its position in Ambarella by 76.2% in the 3rd quarter. Algert Global LLC now owns 94,999 shares of the semiconductor company’s stock valued at $5,358,000 after acquiring an additional 41,094 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Ambarella by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 320,319 shares of the semiconductor company’s stock valued at $18,068,000 after acquiring an additional 3,700 shares during the last quarter. Institutional investors own 82.09% of the company’s stock.

Insider Buying and Selling at Ambarella

In other news, VP Yun-Lung Chen sold 5,963 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 directly owns 62,026 shares in the company, valued at $3,570,216.56. This trade represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Christopher Day sold 2,904 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total value of $168,432.00. Following the completion of the transaction, the vice president now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,423 shares of company stock worth $1,356,402. 5.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMBA shares. Susquehanna dropped their price target on Ambarella from $80.00 to $70.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Craig Hallum increased their price target on Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Bank of America increased their price target on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. TD Cowen increased their price target on Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Morgan Stanley increased their price target on 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 given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $74.09.

Ambarella Stock Performance

Ambarella stock opened at $68.41 on Wednesday. The stock has a 50-day moving average of $57.95 and a two-hundred day moving average of $54.73. Ambarella, Inc. has a one year low of $39.69 and a one year high of $69.55. The stock has a market cap of $2.82 billion, a PE ratio of -15.58 and a beta of 1.63.

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

Ambarella 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.