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

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

Several other large investors also recently bought and sold shares of AMBA. Arizona State Retirement System boosted its position in shares of Ambarella by 1.4% in the 4th quarter. Arizona State Retirement System now owns 11,368 shares of the semiconductor company's stock valued at $827,000 after purchasing an additional 156 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Ambarella by 4.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,964 shares of the semiconductor company's stock valued at $288,000 after purchasing an additional 161 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Ambarella by 68.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 184 shares during the period. Mackenzie Financial Corp boosted its position in shares of Ambarella by 3.2% in the 4th quarter. Mackenzie Financial Corp now owns 6,406 shares of the semiconductor company's stock valued at $466,000 after purchasing an additional 201 shares during the period. Finally, Pitcairn Co. raised its stake in Ambarella by 6.2% during the 4th quarter. Pitcairn Co. now owns 5,839 shares of the semiconductor company's stock valued at $425,000 after acquiring an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 82.09% of the company's stock.

Ambarella Trading Down 1.0%

NASDAQ AMBA traded down $0.64 on Monday, hitting $66.24. 789,997 shares of the stock traded hands, compared to its average volume of 897,018. The stock has a 50-day moving average of $59.16 and a 200 day moving average of $61.30. Ambarella, Inc. has a twelve month low of $38.86 and a twelve month high of $85.15. The company has a market capitalization of $2.81 billion, a P/E ratio of -26.60 and a beta of 2.05.

Wall Street Analyst Weigh In

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

Insider Transactions at Ambarella

In other news, Director Christopher B. Paisley sold 1,000 shares of the 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 sale, the director directly owned 39,281 shares in the company, valued at approximately $2,458,204.98. This represents a 2.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.30% of the stock is owned by insiders.

Ambarella Profile

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.