Entropy Technologies LP, an institutional investor, has recently purchased a new stake in Ambarella, Inc., a semiconductor company, during the third quarter. According to the company’s filing with the Securities & Exchange Commission, Entropy Technologies LP acquired 8,235 shares of Ambarella’s stock, valued at approximately $464,000.
Other institutional investors and hedge funds have also made changes to their positions in Ambarella. Versor Investments LP increased its stake by 5.9% during the third quarter, owning 4,619 shares valued at $261,000. State of New Jersey Common Pension Fund D boosted its holdings by 2.5%, now owning 38,780 shares worth $2,187,000. Van ECK Associates Corp witnessed a significant growth of 216.7% in its position, with 4,563 shares valued at $264,000. Stephens Investment Management Group LLC raised its stake by 20.1%, owning 501,036 shares valued at $28,261,000. Lastly, SteelPeak Wealth LLC increased its holdings by 45.5%, now owning 12,204 shares worth $688,000. Institutional investors collectively own 82.09% of Ambarella’s stock.
Several equities research analysts have commented on Ambarella’s stock. Craig Hallum raised their price objective from $80.00 to $85.00 and gave the stock a “buy” rating. Needham & Company LLC reiterated a “buy” rating with a price target of $90.00. Westpark Capital also maintained a “buy” rating with a price target of $85.00. Bank of America, on the other hand, increased their price objective from $50.00 to $57.00 and gave the stock an “underperform” rating. Susquehanna decreased their target price from $80.00 to $70.00 but maintained a “positive” rating on the stock. Currently, Ambarella has a consensus rating of “Hold” and a consensus target price of $74.09.
In terms of insider activity, CEO Feng-Ming Wang sold 4,382 shares of Ambarella’s stock at an average price of $56.02, totaling $245,479.64. Following this transaction, Wang now owns 803,574 shares valued at approximately $45,016,215.48, representing a 0.54% decrease in ownership. Additionally, VP Yun-Lung Chen sold 5,963 shares at an average price of $57.56, amounting to $343,230.28. Chen now holds 62,026 shares valued at around $3,570,216.56, reflecting an 8.77% decrease in their position. Insiders have sold a total of 24,423 shares worth $1,356,402 over the last 90 days, with corporate insiders owning 5.70% of the company’s stock.
Ambarella’s stock opened at $56.92 on NASDAQ on Friday. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -13.17, and a beta of 1.63. Ambarella’s 50-day moving average price is $56.78, while its 200-day moving average price is $53.93. The semiconductor company reported earnings per share (EPS) of ($0.13) 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 firm generated revenue of $63.70 million for the quarter, surpassing analysts’ expectations of $62.10 million. Compared to the same quarter last year, the company’s revenue increased by 2.6%. Analysts anticipate that Ambarella, Inc. will post -3 EPS for the current fiscal year.