Banque Pictet & Cie SA Takes Position in Ambarella, Inc. (NASDAQ:AMBA)

Banque Pictet & Cie SA purchased a new stake in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,143 shares of the semiconductor company's stock, valued at approximately $259,000.

Several other large investors have also recently bought and sold shares of AMBA. Rhumbline Advisers increased its position in Ambarella by 4.0% in the 1st quarter. Rhumbline Advisers now owns 58,571 shares of the semiconductor company's stock worth $2,948,000 after purchasing an additional 2,249 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Ambarella by 238.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,474 shares of the semiconductor company's stock worth $678,000 after purchasing an additional 9,491 shares during the last quarter. GAMMA Investing LLC increased its position in Ambarella by 6,804.3% in the 1st quarter. GAMMA Investing LLC now owns 16,156 shares of the semiconductor company's stock worth $813,000 after purchasing an additional 15,922 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Ambarella by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 325,001 shares of the semiconductor company's stock worth $23,641,000 after purchasing an additional 4,682 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Ambarella in the 4th quarter worth about $1,032,000. 82.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMBA shares. Morgan Stanley lowered their price objective on Ambarella from $90.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, May 27th. Needham & Company LLC lowered their price objective on Ambarella from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Summit Insights raised Ambarella to a "hold" rating in a report on Thursday, May 29th. Rosenblatt Securities increased their price objective on Ambarella from $87.00 to $95.00 and gave the company a "buy" rating in a report on Friday, May 30th. Finally, Stifel Nicolaus lowered their price objective on Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $84.55.

Insiders Place Their Bets

In related news, Director Christopher B. Paisley sold 1,000 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $62.58, for a total transaction of $62,580.00. Following the completion of the sale, the director directly owned 39,281 shares of the company's stock, valued at $2,458,204.98. This trade represents a 2.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.30% of the stock is owned by corporate insiders.

Ambarella Price Performance

Shares of AMBA traded down $0.58 during mid-day trading on Friday, reaching $66.88. The company had a trading volume of 497,507 shares, compared to its average volume of 763,267. Ambarella, Inc. has a twelve month low of $38.86 and a twelve month high of $85.15. The company's 50-day moving average is $59.16 and its 200-day moving average is $61.48. The company has a market capitalization of $2.84 billion, a P/E ratio of -26.86 and a beta of 2.05.

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.