Two Sigma Investments LP Sells 66,075 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Two Sigma Investments LP cut its position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 44.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,660 shares of the semiconductor company's stock after selling 66,075 shares during the period. Two Sigma Investments LP owned about 0.20% of Ambarella worth $5,940,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Ambarella by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 4,696,124 shares of the semiconductor company's stock valued at $341,596,000 after purchasing an additional 81,557 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Ambarella by 7.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,452,128 shares of the semiconductor company's stock valued at $105,628,000 after purchasing an additional 98,841 shares during the period. Millennium Management LLC increased its position in shares of Ambarella by 11.5% during the fourth quarter. Millennium Management LLC now owns 1,394,192 shares of the semiconductor company's stock valued at $101,414,000 after purchasing an additional 144,268 shares during the period. William Blair Investment Management LLC increased its position in shares of Ambarella by 8.9% during the fourth quarter. William Blair Investment Management LLC now owns 829,052 shares of the semiconductor company's stock valued at $60,305,000 after purchasing an additional 68,044 shares during the period. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Ambarella during the fourth quarter valued at approximately $52,770,000. 82.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on AMBA. Morgan Stanley lowered their price target on Ambarella from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday. Stifel Nicolaus dropped their price objective on Ambarella from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Needham & Company LLC dropped their price objective on Ambarella from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Friday. Summit Insights upgraded Ambarella to a "hold" rating in a research note on Thursday. Finally, Wall Street Zen upgraded Ambarella from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $82.08.

Ambarella Trading Down 16.6%

Shares of AMBA traded down $10.29 during trading hours on Friday, hitting $51.71. 4,453,032 shares of the stock traded hands, compared to its average volume of 707,168. Ambarella, Inc. has a 1-year low of $38.86 and a 1-year high of $85.15. The firm has a market capitalization of $2.19 billion, a PE ratio of -13.40 and a beta of 1.99. The business has a fifty day moving average of $51.29 and a 200-day moving average of $63.42.

Insider Activity

In other news, COO Chan W. Lee sold 1,468 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $80,769.36. Following the transaction, the chief operating officer now owns 130,297 shares of the company's stock, valued at $7,168,940.94. This represents a 1.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Christopher Day sold 479 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $26,354.58. Following the transaction, the vice president now directly owns 15,441 shares in the company, valued at $849,563.82. This trade represents a 3.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,328 shares of company stock valued at $513,467 over the last 90 days. 5.30% of the stock is owned by company insiders.

About Ambarella

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.