Connor Clark & Lunn Investment Management Ltd. Buys 85,667 Shares of Ambarella, Inc. $AMBA

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 17.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 566,830 shares of the semiconductor company’s stock after acquiring an additional 85,667 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ambarella were worth $46,775,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Ambarella by 362.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 326 shares during the last quarter. Total Investment Management Inc. acquired a new stake in Ambarella in the 2nd quarter worth approximately $30,000. CoreCap Advisors LLC bought a new stake in Ambarella during the third quarter worth approximately $43,000. Rothschild Investment LLC boosted its position in Ambarella by 78.1% during the third quarter. Rothschild Investment LLC now owns 641 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 281 shares during the period. Finally, Virtus Advisers LLC acquired a new position in Ambarella during the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 82.09% of the company’s stock.

Insider Buying and Selling

In related news, insider Chan W. Lee sold 2,406 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $71.82, for a total value of $172,798.92. Following the completion of the sale, the insider owned 124,566 shares in the company, valued at approximately $8,946,330.12. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Chi-Hong Ju sold 7,728 shares of Ambarella stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $75.58, for a total value of $584,082.24. Following the sale, the vice president directly owned 146,039 shares in the company, valued at approximately $11,037,627.62. This trade represents a 5.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 77,685 shares of company stock worth $5,056,598. 5.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMBA. Summit Insights raised shares of Ambarella from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ambarella in a research note on Wednesday, January 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 target price (up from $90.00) on shares of Ambarella in a report on Wednesday, November 26th. Bank of America boosted their target price on shares of Ambarella from $90.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Finally, Wall Street Zen downgraded Ambarella from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $96.00.

Ambarella Trading Down 2.9%

AMBA opened at $52.42 on Friday. Ambarella, Inc. has a 1-year low of $38.86 and a 1-year high of $96.69. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -29.45 and a beta of 1.95. The business has a 50 day moving average of $65.02 and a 200-day moving average of $75.17.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, February 26th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $100.87 million for the quarter, compared to analyst estimates of $100.17 million. Ambarella had a negative net margin of 19.42% and a negative return on equity of 12.24%. Ambarella’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 earnings per share. Equities analysts predict that Ambarella, Inc. will post -2.81 EPS for the current year.

Ambarella Company Profile

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.