Tributary Capital Management LLC Cuts Stock Position in Ambarella, Inc. (NASDAQ:AMBA)

Tributary Capital Management LLC lessened its stake in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 12.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,185 shares of the semiconductor company's stock after selling 36,482 shares during the period. Tributary Capital Management LLC owned approximately 0.61% of Ambarella worth $14,055,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMBA. Meeder Asset Management Inc. purchased a new stake in shares of Ambarella in the 2nd quarter valued at $26,000. Blue Trust Inc. boosted its stake in shares of Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 321 shares in the last quarter. CWM LLC boosted its stake 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 in the last quarter. Signaturefd LLC boosted its stake in shares of Ambarella by 389.6% in the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company's stock valued at $37,000 after purchasing an additional 526 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 82.09% of the company's stock.

Insider Activity at Ambarella

In other news, VP Christopher Day sold 483 shares of the firm's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $25,859.82. Following the sale, the vice president now owns 21,370 shares of the company's stock, valued at $1,144,149.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Christopher Day sold 483 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $25,859.82. Following the transaction, the vice president now owns 21,370 shares in the company, valued at $1,144,149.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John Alexander Young sold 2,139 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $114,522.06. Following the sale, the chief financial officer now owns 103,529 shares in the company, valued at approximately $5,542,942.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,423 shares of company stock valued at $1,356,402. 5.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America upped their price objective on shares of Ambarella from $50.00 to $57.00 and gave the company an "underperform" rating in a research note on Wednesday, August 28th. Morgan Stanley upped their price target on shares of Ambarella from $67.00 to $73.00 and gave the company an "overweight" rating in a report on Wednesday, August 28th. Needham & Company LLC reiterated a "buy" rating and set a $90.00 price target on shares of Ambarella in a report on Wednesday, August 28th. Roth Mkm reiterated a "neutral" rating and set a $60.00 price target on shares of Ambarella in a report on Wednesday, August 28th. Finally, TD Cowen upped their price target on shares of Ambarella from $65.00 to $75.00 and gave the company a "hold" rating in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $74.09.

Ambarella Stock Up 2.7 %

Shares of NASDAQ:AMBA traded up $1.58 during midday trading on Monday, reaching $59.33. The company's stock had a trading volume of 281,899 shares, compared to its average volume of 589,363. Ambarella, Inc. has a 12-month low of $39.69 and a 12-month high of $65.88. The firm has a 50 day moving average of $55.21 and a 200-day moving average of $52.52. The firm has a market capitalization of $2.43 billion, a P/E ratio of -13.90 and a beta of 1.62.

Ambarella (NASDAQ:AMBA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The company had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. During the same period in the prior year, the firm posted ($0.76) EPS. Ambarella's revenue for the quarter was up 2.6% on a year-over-year basis. On average, research analysts predict that Ambarella, Inc. will post -3 EPS for the current 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.