Ambarella, Inc. (NASDAQ:AMBA) Sees Significant Decline in Short Interest

Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) was the recipient of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 1,350,000 shares, a decrease of 17.2% from the March 31st total of 1,630,000 shares. Based on an average trading volume of 868,700 shares, the days-to-cover ratio is currently 1.6 days. Approximately 3.4% of the shares of the stock are short sold.

Ambarella Stock Up 2.5 %

Shares of NASDAQ AMBA traded up $1.23 during mid-day trading on Wednesday, reaching $51.04. 425,758 shares of the company were exchanged, compared to its average volume of 691,640. The firm has a 50-day moving average of $49.04 and a 200 day moving average of $63.17. Ambarella has a 1 year low of $38.86 and a 1 year high of $85.15. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -13.22 and a beta of 1.99.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AMBA shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 price target on shares of Ambarella in a report on Thursday, February 27th. Stifel Nicolaus dropped their price objective on shares of Ambarella from $100.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Susquehanna boosted their target price on shares of Ambarella from $95.00 to $100.00 and gave the company a "positive" rating in a report on Wednesday, January 22nd. Needham & Company LLC upped their price objective on shares of Ambarella from $100.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, StockNews.com upgraded shares of Ambarella from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $85.00.

Insiders Place Their Bets

In related news, VP Christopher Day sold 479 shares of Ambarella stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $26,354.58. Following the completion of the sale, the vice president now directly owns 15,441 shares of the company's stock, valued at $849,563.82. The trade was a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher B. Paisley sold 500 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $55.50, for a total transaction of $27,750.00. Following the completion of the transaction, the director now directly owns 40,281 shares of the company's stock, valued at $2,235,595.50. This trade represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,328 shares of company stock valued at $513,467 in the last 90 days. 5.70% of the stock is currently owned by insiders.

Institutional Trading of Ambarella

Several large investors have recently made changes to their positions in the business. Tributary Capital Management LLC grew its stake in Ambarella by 15.4% in the 4th quarter. Tributary Capital Management LLC now owns 287,565 shares of the semiconductor company's stock valued at $20,917,000 after acquiring an additional 38,380 shares during the period. Asset Management One Co. Ltd. purchased a new stake in Ambarella in the fourth quarter valued at $553,000. Artemis Wealth Advisors LLC purchased a new position in Ambarella during the fourth quarter worth about $1,455,000. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in shares of Ambarella in the fourth quarter valued at $256,000. Finally, Van ECK Associates Corp lifted its position in shares of Ambarella by 118.1% during the fourth quarter. Van ECK Associates Corp now owns 9,951 shares of the semiconductor company's stock worth $724,000 after purchasing an additional 5,388 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

About Ambarella

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