Exchange Traded Concepts LLC lifted its stake in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 34.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 381,872 shares of the semiconductor company's stock after purchasing an additional 97,911 shares during the period. Exchange Traded Concepts LLC owned about 0.90% of Ambarella worth $19,220,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of AMBA. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Ambarella by 68.7% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company's stock worth $32,000 after buying an additional 184 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Ambarella in the 4th quarter valued at approximately $37,000. Sterling Capital Management LLC raised its holdings in shares of Ambarella by 629.3% in 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. SBI Securities Co. Ltd. purchased a new stake in shares of Ambarella during the 4th quarter worth $53,000. Finally, National Bank of Canada FI purchased a new stake in shares of Ambarella during the 4th quarter worth $69,000. 82.09% of the stock is owned by institutional investors and hedge funds.
Ambarella Stock Performance
AMBA traded up $0.48 during trading on Wednesday, hitting $52.87. The stock had a trading volume of 798,314 shares, compared to its average volume of 721,605. The firm has a market capitalization of $2.24 billion, a P/E ratio of -21.23 and a beta of 1.99. 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 price is $52.71 and its 200 day moving average price is $62.51.
Insider Buying and Selling at Ambarella
In other Ambarella news, Director Christopher B. Paisley sold 500 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $55.50, for a total value of $27,750.00. Following the completion of the transaction, the director now owns 40,281 shares in the company, valued at approximately $2,235,595.50. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.70% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
AMBA has been the topic of several research analyst reports. Rosenblatt Securities lifted their price target on shares of Ambarella from $87.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Morgan Stanley dropped 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. Stifel Nicolaus reduced their target price on Ambarella from $100.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Wall Street Zen upgraded Ambarella from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Summit Insights raised Ambarella to a "hold" rating in a research report on Thursday, May 29th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.55.
Check Out Our Latest Stock Report on Ambarella
About Ambarella
(
Free Report)
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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