Pitcairn Co. Reduces Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Pitcairn Co. has decreased its holdings in Ambarella, Inc. (NASDAQ:AMBA – Free Report) by 3.7% during the third quarter, as reported by Holdings Channel. Following the sale of 209 shares during the quarter, the institutional investor now owns 5,499 shares of the semiconductor company. As of the last reporting period, Pitcairn Co.'s investment in Ambarella was valued at $310,000.

In addition to Pitcairn Co., several other institutional investors have also adjusted their positions in AMBA. Algert Global LLC increased its holdings in Ambarella by an impressive 76.2% in the third quarter. The firm now owns 94,999 shares valued at $5,358,000, having purchased an additional 41,094 shares in the last quarter. Similarly, Charles Schwab Investment Management Inc. raised its stake by 1.2%, acquiring an additional 3,700 shares to reach a total of 320,319 shares worth $18,068,000.

Intech Investment Management LLC also entered the scene by acquiring a new position in Ambarella during the third quarter, valued at approximately $722,000. Meanwhile, Connor Clark & Lunn Investment Management Ltd. increased its position by 18.9%, now owning 226,502 shares worth $12,776,000 after adding 35,977 shares. Lastly, KBC Group NV grew its stake by 1.3%, holding 41,835 shares valued at $2,360,000 after purchasing an additional 525 shares. Notably, institutional investors currently own 82.09% of Ambarella's stock.

Insider Activity

In recent insider trading news, Vice President Yun-Lung Chen sold 5,963 shares of Ambarella on September 3rd at an average price of $57.56, totaling approximately $343,230.28 from the transaction. Following this sale, Chen retains ownership of 62,026 shares in the company, valued at about $3,570,216.56, representing an 8.77% decrease in personal holdings. This transaction was filed with the Securities & Exchange Commission for transparency. Additionally, VP Christopher Day sold 2,904 shares on October 3rd for a total of $168,432.00, leading to a 13.59% reduction in his ownership with 18,466 shares left, valued at approximately $1,071,028. Within the last ninety days, insiders have sold a total of 24,423 shares worth $1,356,402, with insiders holding 5.70% of the company stock.

Analyst Opinions and Price Targets

Recent analyses from various experts regarding Ambarella shares have been optimistic. Westpark Capital reaffirmed a “buy” rating and set a price target of $85.00. Meanwhile, Rosenblatt Securities also maintained a “buy” rating with a similar target of $85.00. Susquehanna adjusted their price target from $70.00 to $85.00 with a “positive” investment outlook. Needham & Company LLC raised their target from $90.00 to $100.00, marking a “buy” recommendation in its recent analysis. Finally, Stifel Nicolaus increased their target price from $80.00 to $95.00, continuing the trend of positive recommendations. Currently, two research analysts have issued a sell rating, three have a hold rating, and eight have assigned buy ratings to the stock, resulting in a consensus rating of “Hold” and an average price target of $81.67 based on data from MarketBeat.com.

Ambarella Stock Overview

The stock of NASDAQ:AMBA opened at $72.44 on Thursday. Ambarella, Inc. has experienced a 52-week low of $39.69 and a high of $81.32. It boasts a market capitalization of $2.99 billion, with a PE ratio standing at -16.77 and a beta of 1.63. The company’s fifty-day moving average is $58.23, while its 200-day moving average is $54.89.

Ambarella recently reported earnings on August 27th, indicating an EPS of ($0.13) for the quarter, surpassing the consensus estimate of ($0.19) by $0.06. With revenue reported at $63.70 million, the company outperformed the expectation of $62.1 million. Although Ambarella exhibited a negative return on equity of 26.01% and a net margin of -79.46%, the quarterly revenue showed an increase of 2.6% compared to the previous year's figures. For the current year, analysts forecast an EPS of -3.

About Ambarella, Inc.

Ambarella, Inc. is involved in developing advanced semiconductor solutions that facilitate HD and ultra HD video compression, image signal processing, and artificial intelligence processing on a global scale. The company's system-on-a-chip designs seamlessly integrate HD video processing, image processing, AI computer vision algorithms, audio processing, and additional system functions into a single chip, delivering exceptional video and image quality along with low power consumption.

Pitcairn, Ambarella, Investors