Russell Investments Group Ltd. Sells 2,014 Shares of Ambarella Inc (NASDAQ:AMBA)

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Russell Investments Group Ltd. cut its holdings in shares of Ambarella Inc (NASDAQ:AMBA) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,158 shares of the semiconductor company’s stock after selling 2,014 shares during the period. Russell Investments Group Ltd. owned 0.11% of Ambarella worth $1,552,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Aperio Group LLC bought a new stake in Ambarella in the second quarter worth $89,000. Belpointe Asset Management LLC purchased a new stake in shares of Ambarella during the first quarter worth about $119,000. Signition LP bought a new position in Ambarella during the second quarter valued at approximately $250,000. Teza Capital Management LLC bought a new position in Ambarella during the first quarter valued at approximately $263,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Ambarella by 12.7% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,620 shares of the semiconductor company’s stock valued at $336,000 after purchasing an additional 858 shares during the last quarter. 73.86% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on AMBA. Needham & Company LLC reissued a “sell” rating on shares of Ambarella in a report on Friday, August 30th. Morgan Stanley upped their price target on Ambarella from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Dougherty & Co set a $59.00 price objective on Ambarella and gave the stock a “buy” rating in a research report on Friday, August 30th. Zacks Investment Research raised Ambarella from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Thursday, September 5th. Finally, Craig Hallum set a $62.00 price objective on Ambarella and gave the stock a “buy” rating in a report on Friday, August 30th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $59.38.

In other news, CFO Kevin C. Eichler sold 10,970 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.14, for a total transaction of $703,615.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Feng-Ming Wang sold 60,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $59.18, for a total value of $3,550,800.00. Following the completion of the sale, the chief executive officer now directly owns 514,944 shares in the company, valued at $30,474,385.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,890 shares of company stock worth $5,804,072. Company insiders own 6.31% of the company’s stock.

Ambarella stock traded down $0.36 during midday trading on Friday, hitting $64.30. 7,450 shares of the stock were exchanged, compared to its average volume of 1,095,156. The company has a fifty day simple moving average of $52.32 and a two-hundred day simple moving average of $46.60. Ambarella Inc has a 52 week low of $30.00 and a 52 week high of $67.15. The stock has a market capitalization of $2.14 billion, a PE ratio of -58.29 and a beta of 1.20. The company has a quick ratio of 8.64, a current ratio of 9.01 and a debt-to-equity ratio of 0.01.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported ($0.28) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.05. The firm had revenue of $56.41 million for the quarter, compared to the consensus estimate of $52.00 million. Ambarella had a negative net margin of 19.38% and a negative return on equity of 10.82%. The company’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 earnings per share. As a group, equities research analysts anticipate that Ambarella Inc will post -1.13 EPS for the current fiscal year.

About Ambarella

Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, 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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