California Public Employees Retirement System Trims Stock Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Posted by Defense World Staff on May 18th, 2023

California Public Employees Retirement System trimmed its position in Ambarella, Inc. (NASDAQ:AMBA – Get Rating) by 21.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,561 shares of the semiconductor company’s stock after selling 18,218 shares during the period. California Public Employees Retirement System owned 0.17% of Ambarella worth $5,556,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMBA. US Bancorp DE grew its stake in shares of Ambarella by 30.3% in the first quarter. US Bancorp DE now owns 2,605 shares of the semiconductor company’s stock worth $274,000 after acquiring an additional 605 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Ambarella by 5.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,715 shares of the semiconductor company’s stock worth $390,000 after acquiring an additional 181 shares during the last quarter. AlphaCrest Capital Management LLC grew its stake in shares of Ambarella by 33.9% in the first quarter. AlphaCrest Capital Management LLC now owns 3,054 shares of the semiconductor company’s stock worth $320,000 after acquiring an additional 774 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Ambarella by 3.9% in the first quarter. Rhumbline Advisers now owns 37,241 shares of the semiconductor company’s stock worth $3,907,000 after acquiring an additional 1,395 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Ambarella by 14.9% in the first quarter. BlackRock Inc. now owns 4,028,021 shares of the semiconductor company’s stock worth $422,620,000 after acquiring an additional 522,698 shares during the last quarter. 78.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMBA has been the topic of a number of recent research reports. Roth Capital cut Ambarella from a “buy” rating to a “neutral” rating and set a $95.00 target price on the stock. in a research note on Wednesday, March 1st. Craig Hallum cut their target price on Ambarella from $120.00 to $110.00 in a research note on Wednesday, March 1st. Imperial Capital raised Ambarella from an “in-line” rating to an “outperform” rating and set a $95.00 price objective on the stock in a research report on Wednesday, April 5th. Stifel Nicolaus dropped their price objective on Ambarella from $106.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. Finally, Morgan Stanley dropped their price objective on Ambarella from $105.00 to $97.28 and set an “overweight” rating on the stock in a research report on Wednesday, March 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ambarella has an average rating of “Moderate Buy” and an average price target of $96.02.

Ambarella Trading Up 3.4 %

Shares of AMBA opened at $69.92 on Thursday. The business’s 50 day moving average is $70.78 and its 200 day moving average is $77.18. The company has a market capitalization of $2.77 billion, a PE ratio of -40.89 and a beta of 1.50. Ambarella, Inc. has a 12-month low of $49.02 and a 12-month high of $99.86.

Ambarella (NASDAQ:AMBA – Get Rating) last issued its earnings results on Tuesday, February 28th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.24. The company had revenue of $83.32 million for the quarter, compared to the consensus estimate of $83.04 million. Ambarella had a negative return on equity of 8.84% and a negative net margin of 19.37%. Equities research analysts predict that Ambarella, Inc. will post -2.84 earnings per share for the current year.

Insider Buying and Selling at Ambarella

In other Ambarella news, VP Christopher Day sold 3,675 shares of the firm’s stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $69.24, for a total transaction of $254,457.00. Following the completion of the transaction, the vice president now owns 18,117 shares in the company, valued at approximately $1,254,421.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ambarella news, VP Christopher Day sold 3,675 shares of the firm’s stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $69.24, for a total transaction of $254,457.00. Following the completion of the transaction, the vice president now owns 18,117 shares in the company, valued at approximately $1,254,421.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Feng-Ming Wang sold 16,644 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $76.85, for a total value of $1,279,091.40. Following the transaction, the chief executive officer now owns 718,152 shares of the company’s stock, valued at approximately $55,189,981.20. The disclosure for this sale can be found here. Insiders sold 56,186 shares of company stock worth $4,298,470 in the last quarter. 5.90% of the stock is owned by corporate insiders.

Ambarella Profile

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Ambarella, Inc engages in the development of low-power system-on-a-chip, or SoC, semiconductors and software for edge artificial intelligence, or AI, applications. Its products include video security, advanced driver assistance (ADAS), electronic mirror, drive recorder, driver or cabin monitoring, autonomous driving, and other robotics applications.