Corton Capital Inc. Invests $506,000 in Ambarella, Inc. (NASDAQ:AMBA)

Corton Capital Inc. bought a new stake in Ambarella, Inc. (NASDAQ:AMBA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,952 shares of the semiconductor company's stock, valued at approximately $506,000. Ambarella accounts for approximately 0.3% of Corton Capital Inc.'s portfolio, making the stock its 16th biggest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Ambarella by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 4,696,124 shares of the semiconductor company's stock valued at $341,596,000 after acquiring an additional 81,557 shares during the period. The Manufacturers Life Insurance Company raised its position in Ambarella by 7.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,452,128 shares of the semiconductor company's stock worth $105,628,000 after acquiring an additional 98,841 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Ambarella by 8.9% in the fourth quarter. William Blair Investment Management LLC now owns 829,052 shares of the semiconductor company's stock valued at $60,305,000 after acquiring an additional 68,044 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Ambarella during the 4th quarter worth $52,770,000. Finally, Stephens Investment Management Group LLC increased its holdings in shares of Ambarella by 0.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 503,468 shares of the semiconductor company's stock valued at $36,622,000 after purchasing an additional 2,432 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Trading Up 1.9 %

Shares of NASDAQ AMBA traded up $1.01 on Friday, reaching $53.85. 569,216 shares of the company traded hands, compared to its average volume of 693,061. The stock has a market capitalization of $2.28 billion, a PE ratio of -13.95 and a beta of 1.99. Ambarella, Inc. has a fifty-two week low of $38.86 and a fifty-two week high of $85.15. The company has a 50 day moving average of $48.93 and a 200 day moving average of $63.15.

Insider Activity at Ambarella

In related news, VP Christopher Day sold 479 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $26,354.58. Following the transaction, the vice president now owns 15,441 shares in the company, valued at approximately $849,563.82. This trade represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 500 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $55.50, for a total transaction of $27,750.00. Following the completion of the sale, the director now directly owns 40,281 shares of the company's stock, valued at $2,235,595.50. The trade was a 1.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,328 shares of company stock worth $513,467. 5.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AMBA shares. Rosenblatt Securities reiterated a "buy" rating and set a $100.00 price target on shares of Ambarella in a research report on Thursday, February 27th. Stifel Nicolaus cut their price target on Ambarella from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Needham & Company LLC increased their price objective on shares of Ambarella from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Susquehanna lifted their target price on shares of Ambarella from $95.00 to $100.00 and gave the stock a "positive" rating in a research report on Wednesday, January 22nd. Finally, StockNews.com upgraded Ambarella from a "sell" rating to a "hold" rating in a research report 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $85.00.

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.