5,143 Shares in Ambarella, Inc. (NASDAQ:AMBA) Bought by Banque Pictet & Cie SA

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

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Ambarella by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 4,696,124 shares of the semiconductor company's stock worth $341,596,000 after purchasing an additional 81,557 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Ambarella by 7.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,452,128 shares of the semiconductor company's stock worth $105,628,000 after buying an additional 98,841 shares during the period. Millennium Management LLC lifted its holdings in shares of Ambarella by 11.5% during the fourth quarter. Millennium Management LLC now owns 1,394,192 shares of the semiconductor company's stock worth $101,414,000 after buying an additional 144,268 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Ambarella by 8.9% during the fourth quarter. William Blair Investment Management LLC now owns 829,052 shares of the semiconductor company's stock worth $60,305,000 after buying an additional 68,044 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Ambarella in the fourth quarter valued at approximately $52,770,000. 82.09% of the stock is currently owned by institutional investors.

Ambarella Stock Down 0.8%

Shares of AMBA opened at $67.46 on Friday. The company has a 50-day moving average price of $58.83 and a two-hundred day moving average price of $61.53. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -27.09 and a beta of 2.05. Ambarella, Inc. has a 12 month low of $38.86 and a 12 month high of $85.15.

Insider Buying and Selling at Ambarella

In related news, Director Christopher B. Paisley sold 1,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director owned 39,281 shares in the company, valued at $2,458,204.98. This trade represents a 2.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Stifel Nicolaus cut their target price on shares of 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 dropped their price objective on shares of Ambarella from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Rosenblatt Securities upped their price objective on shares of Ambarella from $87.00 to $95.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Summit Insights raised Ambarella to a "hold" rating in a research report on Thursday, May 29th. Finally, Morgan Stanley cut their price target on Ambarella from $90.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, May 27th. 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 company presently has an average rating of "Moderate Buy" and a consensus price target of $84.55.

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.

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