Thrivent Financial for Lutherans Reduces Position in Ambarella, Inc. $AMBA

Thrivent Financial for Lutherans trimmed its holdings in Ambarella, Inc. (NASDAQ:AMBA) by 47.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,574 shares of the semiconductor company’s stock after selling 9,589 shares during the period. Thrivent Financial for Lutherans’ holdings in Ambarella were worth $873,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMBA. State Street Corp raised its holdings in Ambarella by 8.9% in the 2nd quarter. State Street Corp now owns 1,855,170 shares of the semiconductor company’s stock valued at $122,562,000 after acquiring an additional 151,694 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Ambarella by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,371,511 shares of the semiconductor company’s stock valued at $90,609,000 after purchasing an additional 52,954 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Ambarella by 3.0% in the second quarter. Geode Capital Management LLC now owns 976,281 shares of the semiconductor company’s stock valued at $64,505,000 after purchasing an additional 28,371 shares during the last quarter. Legal & General Group Plc lifted its position in Ambarella by 9.3% during the second quarter. Legal & General Group Plc now owns 634,477 shares of the semiconductor company’s stock worth $41,917,000 after buying an additional 53,917 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Ambarella during the second quarter worth $36,810,000. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Price Performance

Shares of AMBA stock opened at $66.21 on Monday. Ambarella, Inc. has a 1-year low of $38.86 and a 1-year high of $96.69. The firm has a market cap of $2.85 billion, a PE ratio of -35.22 and a beta of 1.97. The company has a 50-day moving average of $69.43 and a two-hundred day moving average of $75.92.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. The business had revenue of $108.45 million for the quarter, compared to the consensus estimate of $104.11 million. Ambarella had a negative net margin of 21.31% and a negative return on equity of 13.02%. The business’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. Sell-side analysts anticipate that Ambarella, Inc. will post -2.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on AMBA shares. Rosenblatt Securities lifted their price target on Ambarella from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Wall Street Zen cut shares of Ambarella from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Ambarella in a research note on Wednesday, November 26th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $80.00 price target on shares of Ambarella in a research note on Wednesday, November 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ambarella in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

Insider Activity at Ambarella

In related news, CEO Feng-Ming Wang sold 4,950 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $71.82, for a total value of $355,509.00. Following the sale, the chief executive officer owned 783,979 shares in the company, valued at approximately $56,305,371.78. The trade was a 0.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John Alexander Young sold 3,791 shares of the stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $72.96, for a total value of $276,591.36. Following the transaction, the chief financial officer directly owned 102,738 shares in the company, valued at approximately $7,495,764.48. The trade was a 3.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 27,685 shares of company stock valued at $2,016,598 over the last ninety days. 5.70% of the stock is owned by insiders.

Ambarella Company Profile

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.