Pitcairn Co. Adjusts Ambarella Holdings

Pitcairn Co. has recently reduced its stake in Ambarella, Inc. (NASDAQ:AMBA) by 3.7% during the third quarter, as reported by Holdings Channel. After selling 209 shares, the institutional investor now holds a total of 5,499 shares of the semiconductor company. At the conclusion of the latest reporting period, Pitcairn Co.'s holdings in Ambarella were valued at approximately $310,000.

Other institutional investors have also made adjustments to their positions in Ambarella. Notably, Algert Global LLC significantly increased its holdings by 76.2% in the third quarter. Algert now owns 94,999 shares of the company, which are valued at $5,358,000, following the acquisition of an additional 41,094 shares in the last quarter. Additionally, Charles Schwab Investment Management Inc. raised its stake by 1.2%, bringing its total to 320,319 shares valued at $18,068,000 after acquiring an extra 3,700 shares in the same period. Intech Investment Management LLC established a new position in Ambarella worth about $722,000, while Connor Clark & Lunn Investment Management Ltd. expanded its position by 18.9%, now owning 226,502 shares worth $12,776,000 after purchasing 35,977 shares. Lastly, KBC Group NV raised its stake by 1.3%, now holding 41,835 shares valued at $2,360,000 after buying an additional 525 shares. Overall, institutional investors currently hold approximately 82.09% of Ambarella's stock.

Insider Transactions

In terms of insider activity, Vice President Yun-Lung Chen sold 5,963 shares of Ambarella on September 3, 2024, at an average price of $57.56, totaling about $343,230.28. Post-sale, Chen retains 62,026 shares valued at around $3,570,216.56, marking an 8.77% decrease in his position. Similarly, Vice President Christopher Day sold 2,904 shares on October 3, 2024, at an average price of $58.00, for a total of $168,432.00. Following this transaction, Day owns 18,466 shares valued at approximately $1,071,028, reflecting a 13.59% decline in his ownership. Over the last ninety days, insiders have sold a total of 24,423 shares valued at $1,356,402, with company insiders holding 5.70% of the stock.

Analyst Insights

Recently, various analysts have reviewed Ambarella's stock. Westpark Capital reiterated a "buy" rating with a price target of $85.00. Similarly, Rosenblatt Securities maintained a "buy" rating with the same target. Susquehanna raised its price target from $70.00 to $85.00 while rating the stock positively. Needham & Company LLC elevated its price objective from $90.00 to $100.00, also assigning a "buy" rating. Stifel Nicolaus increased its target from $80.00 to $95.00, maintaining a "buy" stance. Currently, the consensus rating for Ambarella is "Hold," with an average price target of $81.67 according to MarketBeat.com.

Stock Performance Overview

On Thursday, shares of NASDAQ:AMBA opened at $72.44. Ambarella boasts a 52-week low of $39.69 and a high of $81.32, with a market capitalization of $2.99 billion and a PE ratio of -16.77. The stock has a beta of 1.63, with a 50-day moving average at $58.23 and a 200-day moving average at $54.89.

Ambarella recently announced earnings results, reporting an EPS of ($0.13) for the quarter, exceeding the consensus estimate of ($0.19) by $0.06. Revenue for the quarter was $63.70 million, slightly surpassing the expected $62.10 million. Last year, during the same period, the company had an EPS of ($0.76), with an anticipated EPS of -3 for the current year.

About Ambarella

Ambarella, Inc. specializes in semiconductor solutions enabling high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing globally. Their system-on-a-chip designs integrate various functionalities, including HD video processing, image processing, artificial intelligence algorithms, and audio processing, into a single chip to ensure high-quality video and image output with low power consumption.

Pitcairn, Ambarella, Stocks