5 Best Mid-Cap Stocks For 2021

4. Ambarella, Inc. (NASDAQ: AMBA)

Number of Hedge Fund Holders: 37

Ambarella, Inc. (NASDAQ: AMBA) is a California-based fabless semiconductor design company that it designs and sells semiconductors for image and video processing and compression while outsourcing its semiconductor manufacturing. It is ranked fourth on our list of 15 best mid-cap stocks for 2021. The stock has returned over 107.05% to investors over the course of the past year.

On June 1, Ambarella, Inc. (NASDAQ: AMBA) posted earnings for the first quarter of 2021, reporting earnings per share of $0.23, beating estimates by $0.06. The revenue over the period was around $70 million, up 28.34% year-over-year.

At the end of the second quarter of 2021, 37 hedge funds in the database of Insider Monkey held stakes worth $342 million in Ambarella, Inc. (NASDAQ: AMBA), up from 35 the preceding quarter worth $287 million.

Out of the hedge funds tracked by Insider Monkey, billionaire Jim Simons’s Renaissance Technologies has the most valuable stake in Ambarella, Inc. (NASDAQ: AMBA) as of the end of the second quarter of 2021, worth close to $54 million, comprising 0.06% of its 13F portfolio.