Readystate Asset Management LP Invests $6.02 Million in Ambarella, Inc. $AMBA

Readystate Asset Management LP purchased a new stake in Ambarella, Inc. (NASDAQ:AMBA) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 72,945 shares of the semiconductor company’s stock, valued at approximately $6,019,000. Readystate Asset Management LP owned approximately 0.17% of Ambarella at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new stake in shares of Ambarella in the 2nd quarter valued at about $36,810,000. Balyasny Asset Management L.P. increased its holdings in Ambarella by 894.7% in the second quarter. Balyasny Asset Management L.P. now owns 459,562 shares of the semiconductor company’s stock valued at $30,361,000 after buying an additional 413,362 shares during the last quarter. Tributary Capital Management LLC raised its stake in Ambarella by 88.5% during the third quarter. Tributary Capital Management LLC now owns 423,790 shares of the semiconductor company’s stock valued at $34,971,000 after buying an additional 198,934 shares in the last quarter. State Street Corp lifted its holdings in Ambarella by 8.9% during the 2nd quarter. State Street Corp now owns 1,855,170 shares of the semiconductor company’s stock worth $122,562,000 after buying an additional 151,694 shares during the last quarter. Finally, LMR Partners LLP bought a new position in Ambarella during the 2nd quarter worth approximately $9,910,000. 82.09% of the stock is owned by institutional investors and hedge funds.

Ambarella Trading Down 0.6%

AMBA opened at $65.79 on Wednesday. The business’s 50 day moving average is $68.97 and its 200-day moving average is $75.94. The stock has a market cap of $2.83 billion, a PE ratio of -34.99 and a beta of 1.97. Ambarella, Inc. has a twelve month low of $38.86 and a twelve month high of $96.69.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. The business had revenue of $108.45 million during the quarter, compared to analyst estimates of $104.11 million. Ambarella had a negative return on equity of 13.02% and a negative net margin of 21.31%.The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 EPS. As a group, analysts forecast that Ambarella, Inc. will post -2.81 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Ambarella in a research report on Wednesday, January 21st. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 target price (up previously from $90.00) on shares of Ambarella in a research note on Wednesday, November 26th. Rosenblatt Securities raised their price target on shares of Ambarella from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $80.00 price objective on shares of Ambarella in a research report on Wednesday, November 26th. Finally, Roth Mkm restated a “neutral” rating on shares of Ambarella in a research note on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, 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, Director Elizabeth M. Schwarting sold 624 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $72.38, for a total value of $45,165.12. Following the completion of the transaction, the director owned 6,690 shares in the company, valued at $484,222.20. This represents a 8.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Feng-Ming Wang sold 4,950 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $71.82, for a total transaction of $355,509.00. Following the sale, the chief executive officer owned 783,979 shares in the company, valued at $56,305,371.78. This trade represents a 0.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 27,685 shares of company stock valued at $2,016,598. 5.70% of the stock is owned by corporate insiders.

About Ambarella

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.