Russell Investments Group Ltd. Raises Position in Ambarella, Inc. $AMBA

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Ambarella, Inc. by 232.6% in Q1, owning 75,169 shares valued at approximately $3.78 million.
• Multiple institutional investors also raised their stakes in Ambarella, with Sterling Capital Management LLC increasing its ownership by 629.3%.
• Analysts have varied target price updates for Ambarella, with Rosenblatt Securities boosting its target from $87 to $95, while Needham & Company lowered theirs from $110 to $90.

Russell Investments Group Ltd. grew its stake in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 232.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,169 shares of the semiconductor company's stock after buying an additional 52,570 shares during the period. Russell Investments Group Ltd. owned 0.18% of Ambarella worth $3,783,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AMBA. Envestnet Asset Management Inc. boosted its position in shares of Ambarella by 1.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 52,319 shares of the semiconductor company's stock valued at $3,806,000 after purchasing an additional 923 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Ambarella by 629.3% during the 4th quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 516 shares in the last quarter. Mariner LLC boosted its position in shares of Ambarella by 8.2% during the 4th quarter. Mariner LLC now owns 6,098 shares of the semiconductor company's stock valued at $444,000 after purchasing an additional 460 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Ambarella by 4.9% during the 4th quarter. MetLife Investment Management LLC now owns 22,892 shares of the semiconductor company's stock valued at $1,665,000 after purchasing an additional 1,065 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Ambarella by 300.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,124 shares of the semiconductor company's stock valued at $82,000 after purchasing an additional 843 shares in the last quarter. Institutional investors and hedge funds own 82.09% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on AMBA shares. Morgan Stanley cut 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. Susquehanna upped their target price 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 upped their target price on Ambarella from $87.00 to $95.00 and gave the company a "buy" rating 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, Needham & Company LLC cut their price target on Ambarella from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Ambarella has an average rating of "Moderate Buy" and a consensus target price of $87.50.

Insider Activity 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 value 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 represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.30% of the stock is currently owned by company insiders.

Ambarella Stock Down 1.8%

NASDAQ:AMBA traded down $1.30 on Thursday, hitting $70.63. The stock had a trading volume of 1,895,583 shares, compared to its average volume of 535,873. The business's fifty day moving average is $66.57 and its 200 day moving average is $59.36. 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 52 week low of $38.86 and a 52 week high of $85.15.

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.