12,685 Shares in Ambarella, Inc. (NASDAQ:AMBA) Acquired by Magnetar Financial LLC

Magnetar Financial LLC acquired a new position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,685 shares of the semiconductor company's stock, valued at approximately $684,000.

Several other large investors also recently made changes to their positions in AMBA. Meeder Asset Management Inc. bought a new stake in Ambarella during the second quarter worth $26,000. CWM LLC raised its holdings in shares of Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 304 shares during the period. Van ECK Associates Corp lifted its stake in Ambarella by 62.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company's stock valued at $78,000 after purchasing an additional 552 shares during the last quarter. Larson Financial Group LLC grew its holdings in Ambarella by 13,576.9% during the first quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company's stock worth $90,000 after purchasing an additional 1,765 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in Ambarella during the first quarter worth approximately $205,000. Institutional investors and hedge funds own 82.09% of the company's stock.

Ambarella Stock Performance

Shares of NASDAQ:AMBA opened at $54.27 on Wednesday. Ambarella, Inc. has a 12-month low of $39.69 and a 12-month high of $65.88. The company's 50 day moving average price is $51.64 and its two-hundred day moving average price is $51.42.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AMBA shares. Bank of America lifted their target price on Ambarella from $50.00 to $57.00 and gave the stock an "underperform" rating in a research note on Wednesday, August 28th. Morgan Stanley lifted 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. Stifel Nicolaus increased their price objective on shares of Ambarella from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, August 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 target price on shares of Ambarella in a report on Wednesday, August 28th. Finally, Westpark Capital reissued a "buy" rating and issued a $85.00 price target on shares of Ambarella in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Ambarella currently has a consensus rating of "Hold" and an average price target of $75.00.

Insider Buying and Selling

In related news, VP Christopher Day sold 1,408 shares of the company's stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $61.66, for a total transaction of $86,817.28. Following the completion of the sale, the vice president now owns 21,599 shares of the company's stock, valued at $1,331,794.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ambarella news, VP Christopher Day sold 1,408 shares of the business's stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $61.66, for a total transaction of $86,817.28. Following the completion of the transaction, the vice president now directly owns 21,599 shares in the company, valued at $1,331,794.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Feng-Ming Wang sold 4,301 shares of the firm's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $230,275.54. Following the completion of the sale, the chief executive officer now directly owns 799,527 shares in the company, valued at approximately $42,806,675.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,014 shares of company stock worth $1,224,810. Company insiders own 5.70% of the company's stock.

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.