Algert Global LLC Boosts Stake in Ambarella, Inc. $AMBA

Key Points

• Algert Global LLC increased its holdings in Ambarella, Inc. by 14.3% in Q1 2023, now owning 238,301 shares valued at approximately $12 million.
• Multiple institutional investors significantly raised their stakes in Ambarella, with 82.09% of the company now owned by institutional investors.
• Analysts have provided mixed views, with target prices ranging from $80.00 to $95.00, reflecting a consensus rating of "Moderate Buy."

Algert Global LLC lifted its position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 14.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 238,301 shares of the semiconductor company's stock after purchasing an additional 29,870 shares during the period. Algert Global LLC owned about 0.56% of Ambarella worth $11,994,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Ambarella by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 4,848,305 shares of the semiconductor company's stock valued at $244,015,000 after acquiring an additional 152,181 shares during the period. 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 valued at $105,628,000 after acquiring an additional 98,841 shares during the period. Millennium Management LLC increased its position in Ambarella by 11.5% in the 4th quarter. Millennium Management LLC now owns 1,394,192 shares of the semiconductor company's stock valued at $101,414,000 after acquiring an additional 144,268 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in Ambarella in the 4th quarter valued at about $52,770,000. Finally, Nuveen LLC acquired a new position in Ambarella in the 1st quarter valued at about $32,169,000. Institutional investors and hedge funds own 82.09% of the company's stock.

Insider Activity at Ambarella

In other news, Director Christopher B. Paisley sold 1,000 shares of the business'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 sale, the director owned 39,281 shares of the company's stock, valued at $2,458,204.98. The trade was a 2.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.30% of the stock is owned by company insiders.

Ambarella Trading Up 7.1%

Shares of NASDAQ:AMBA traded up $4.7060 during trading on Friday, hitting $70.7260. 351,922 shares of the stock were exchanged, compared to its average volume of 826,781. The company has a fifty day moving average price of $64.68 and a two-hundred day moving average price of $59.58. The company has a market cap of $3.00 billion, a PE ratio of -28.37 and a beta of 2.08. Ambarella, Inc. has a 12-month low of $38.86 and a 12-month high of $85.15.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AMBA shares. Susquehanna boosted their price target on Ambarella from $80.00 to $90.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. Rosenblatt Securities boosted their target price on Ambarella from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Needham & Company LLC dropped their target price on Ambarella from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Summit Insights upgraded Ambarella to a "hold" rating in a research report on Thursday, May 29th. Finally, Morgan Stanley dropped their target price on Ambarella from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 27th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.64.

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.