JPMorgan Chase & Co. Buys 316,953 Shares of Ambarella Inc (AMBA)

JPMorgan Chase & Co. lifted its stake in Ambarella Inc (NASDAQ:AMBA) by 4,210.3% in the third quarter, HoldingsChannel.com reports. The firm owned 324,481 shares of the semiconductor company’s stock after acquiring an additional 316,953 shares during the quarter. JPMorgan Chase & Co.’s holdings in Ambarella were worth $12,550,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its holdings in shares of Ambarella by 24.0% in the 2nd quarter. Bank of America Corp DE now owns 137,854 shares of the semiconductor company’s stock worth $5,322,000 after buying an additional 26,663 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Ambarella by 12.2% in the 2nd quarter. California Public Employees Retirement System now owns 28,397 shares of the semiconductor company’s stock worth $1,096,000 after buying an additional 3,097 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Ambarella by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 125,009 shares of the semiconductor company’s stock worth $4,827,000 after buying an additional 3,155 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Ambarella by 0.8% in the 2nd quarter. Northern Trust Corp now owns 335,374 shares of the semiconductor company’s stock worth $12,949,000 after buying an additional 2,695 shares during the last quarter. Finally, Scout Investments Inc. boosted its holdings in shares of Ambarella by 2.2% in the 3rd quarter. Scout Investments Inc. now owns 74,489 shares of the semiconductor company’s stock worth $2,881,000 after buying an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 79.65% of the company’s stock.

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In other news, CEO Feng-Ming Wang sold 7,627 shares of the company’s stock in a transaction dated Tuesday, December 18th. The stock was sold at an average price of $38.00, for a total transaction of $289,826.00. Following the sale, the chief executive officer now directly owns 406,631 shares in the company, valued at $15,451,978. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Leslie Kohn sold 4,990 shares of the company’s stock in a transaction dated Tuesday, December 18th. The shares were sold at an average price of $38.00, for a total value of $189,620.00. Following the sale, the insider now owns 916,646 shares in the company, valued at $34,832,548. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,541 shares of company stock worth $636,581. Insiders own 5.84% of the company’s stock.

AMBA has been the topic of a number of research analyst reports. ValuEngine downgraded shares of Ambarella from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 2nd. TheStreet downgraded shares of Ambarella from a “c-” rating to a “d” rating in a report on Friday, November 30th. Zacks Investment Research reaffirmed a “hold” rating on shares of Ambarella in a report on Monday, November 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Ambarella in a report on Friday, November 30th. Finally, Roth Capital upped their price objective on shares of Ambarella to $40.00 and gave the company a “neutral” rating in a report on Friday, November 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Ambarella currently has a consensus rating of “Hold” and a consensus target price of $44.75.

NASDAQ AMBA opened at $39.41 on Friday. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 71.65 and a beta of 1.03. Ambarella Inc has a 52 week low of $30.00 and a 52 week high of $55.50.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Thursday, November 29th. The semiconductor company reported ($0.28) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.01). The business had revenue of $57.30 million for the quarter, compared to analysts’ expectations of $57.12 million. Ambarella had a negative net margin of 9.97% and a negative return on equity of 5.35%. Ambarella’s revenue for the quarter was down 35.7% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. As a group, equities research analysts anticipate that Ambarella Inc will post -1.02 EPS for the current year.

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Ambarella Profile

Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.

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