Asset Management One Co. Ltd. Lowers Stock Position in Ambarella, Inc. (NASDAQ:AMBA)

Asset Management One Co. Ltd. reduced its position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 80.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,466 shares of the semiconductor company's stock after selling 6,062 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Ambarella were worth $74,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ increased its stake in 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 acquiring an additional 184 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Ambarella during the 4th quarter valued at approximately $37,000. Sterling Capital Management LLC raised its holdings in 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 buying an additional 516 shares during the period. SBI Securities Co. Ltd. bought a new stake in Ambarella in the fourth quarter worth $53,000. Finally, National Bank of Canada FI purchased a new position in Ambarella during the fourth quarter worth $69,000. 82.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity

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 shares were sold at an average price of $62.58, for a total value of $62,580.00. Following the sale, the director owned 39,281 shares of the company's stock, valued at $2,458,204.98. This trade represents a 2.48% decrease in their ownership of the stock. 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 Stock Up 1.0%

Shares of Ambarella stock traded up $0.66 on Thursday, hitting $66.84. 153,313 shares of the company were exchanged, compared to its average volume of 762,464. The company has a 50-day moving average price of $56.47 and a 200 day moving average price of $61.74. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -26.87 and a beta of 2.05. Ambarella, Inc. has a 1-year low of $38.86 and a 1-year 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.