Essex Investment Management Co. LLC Decreases Stock Position in Ambarella, Inc. (NASDAQ:AMBA)

Key Points

• Essex Investment Management Co. LLC reduced its stake in Ambarella by 4.5%, now holding 86,431 shares, representing 0.9% of their portfolio.
• Institutional investors own 82.09% of Ambarella's stock, indicating strong interest in the semiconductor company.
• Ambarella's stock received a "Moderate Buy" rating, with a consensus target price of $83.64 following various analysts' adjustments to their ratings.

Essex Investment Management Co. LLC lowered its position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,431 shares of the semiconductor company's stock after selling 4,091 shares during the quarter. Ambarella accounts for approximately 0.9% of Essex Investment Management Co. LLC's investment portfolio, making the stock its 27th biggest holding. Essex Investment Management Co. LLC owned 0.20% of Ambarella worth $4,350,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of AMBA. Aster Capital Management DIFC Ltd bought a new stake in shares of Ambarella in the 4th quarter worth 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 worth $43,000 after purchasing an additional 516 shares during the period. Larson Financial Group LLC raised its holdings in shares of Ambarella by 111.9% in the 1st quarter. Larson Financial Group LLC now owns 1,195 shares of the semiconductor company's stock worth $60,000 after purchasing an additional 631 shares during the period. National Bank of Canada FI bought a new stake in shares of Ambarella in the 4th quarter worth approximately $69,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Ambarella in the 4th quarter worth approximately $71,000. Institutional investors own 82.09% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on AMBA. Needham & Company LLC lowered their price target on shares of Ambarella from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Stifel Nicolaus lowered their target price on shares of Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Rosenblatt Securities boosted their target price on shares of Ambarella from $87.00 to $95.00 and gave the company a "buy" rating in a report on Friday, May 30th. Morgan Stanley lowered their target price on shares of Ambarella from $90.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, May 27th. Finally, Susquehanna boosted their target price on shares of Ambarella from $80.00 to $90.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.64.

Ambarella Stock Down 3.5%

NASDAQ:AMBA traded down $2.33 during midday trading on Friday, hitting $63.77. The company had a trading volume of 340,030 shares, compared to its average volume of 862,943. Ambarella, Inc. has a 52-week low of $38.86 and a 52-week high of $85.15. The stock's fifty day moving average price is $61.86 and its 200-day moving average price is $60.84. The company has a market capitalization of $2.70 billion, a PE ratio of -25.66 and a beta of 2.05.

Insider Transactions at Ambarella

In related news, Director Christopher B. Paisley sold 1,000 shares of the company's stock in a transaction 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 completion of the transaction, the director directly owned 39,281 shares in the company, valued at approximately $2,458,204.98. The trade was 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 accessible through the SEC website. Company insiders own 5.30% of the company's stock.

Ambarella Company 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.