Ambarella, Inc. (NASDAQ:AMBA) Stock Holdings Raised by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC has increased its holdings in Ambarella, Inc. by 34.0% in the first quarter, totaling 178,299 shares worth approximately $8.97 million.
• Several other institutional investors have significantly boosted their stakes in Ambarella, with 82.09% of the stock now owned by such investors.
• Ambarella's stock is currently rated with a consensus of "Moderate Buy" and has a target price of approximately $83.64 according to market analysts.

Lord Abbett & CO. LLC increased its holdings in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 34.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 178,299 shares of the semiconductor company's stock after buying an additional 45,239 shares during the period. Lord Abbett & CO. LLC owned about 0.42% of Ambarella worth $8,974,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of AMBA. Sterling Capital Management LLC boosted 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 buying an additional 516 shares during the period. Larson Financial Group LLC boosted 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 valued at $60,000 after buying an additional 631 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Ambarella in the 4th quarter valued at about $71,000. Tower Research Capital LLC TRC boosted its holdings in shares of Ambarella by 300.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,124 shares of the semiconductor company's stock valued at $82,000 after buying an additional 843 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Ambarella by 452.4% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 2,497 shares of the semiconductor company's stock valued at $126,000 after buying an additional 2,045 shares during the period. 82.09% of the stock is owned by institutional investors and hedge funds.

Ambarella Trading Down 2.3%

Shares of NASDAQ:AMBA opened at $66.99 on Friday. The company has a 50 day moving average of $63.67 and a 200-day moving average of $59.85. The firm has a market cap of $2.84 billion, a P/E ratio of -26.90 and a beta of 2.08. Ambarella, Inc. has a twelve month low of $38.86 and a twelve month high of $85.15.

Insider Buying and Selling at Ambarella

In other news, Director Christopher B. Paisley sold 1,000 shares of the company'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 completion of the sale, the director directly owned 39,281 shares of the company's stock, valued at approximately $2,458,204.98. This represents a 2.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AMBA shares. Rosenblatt Securities lifted their price target on shares of Ambarella from $87.00 to $95.00 and gave the company a "buy" rating in a report on Friday, May 30th. Needham & Company LLC reduced their target price 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. Summit Insights raised shares of Ambarella to a "hold" rating in a research note on Thursday, May 29th. Susquehanna boosted their target price on shares of Ambarella from $80.00 to $90.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley reduced their target price on shares of Ambarella from $90.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, May 27th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.64.

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.

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