Ameriprise Financial Inc. Sells 38,556 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Ameriprise Financial Inc. lowered its position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 89.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,625 shares of the semiconductor company's stock after selling 38,556 shares during the period. Ameriprise Financial Inc.'s holdings in Ambarella were worth $336,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ grew its position in Ambarella by 68.7% during the 4th 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 Ambarella during the 4th quarter worth approximately $37,000. Sterling Capital Management LLC grew its position in Ambarella by 629.3% during the 4th quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 516 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Ambarella during the 4th quarter worth approximately $53,000. Finally, National Bank of Canada FI bought a new position in Ambarella during the 4th quarter worth approximately $69,000. Institutional investors own 82.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Ambarella from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Summit Insights upgraded Ambarella to a "hold" rating in a research report on Thursday, May 29th. Stifel Nicolaus reduced their price target on 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 price target on Ambarella from $87.00 to $95.00 and gave the company a "buy" rating in a report on Friday, May 30th. Finally, 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. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $84.55.

Ambarella Stock Performance

AMBA stock opened at $51.71 on Friday. Ambarella, Inc. has a fifty-two week low of $38.86 and a fifty-two week high of $85.15. The business's 50 day moving average price is $51.38 and its two-hundred day moving average price is $63.25. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -13.40 and a beta of 1.99.

Insider Buying and Selling

In other news, CTO Leslie Kohn sold 1,584 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $87,151.68. Following the transaction, the chief technology officer now directly owns 981,392 shares of the company's stock, valued at $53,996,187.84. This represents a 0.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher Day sold 479 shares of the 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. The trade was a 3.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,328 shares of company stock worth $513,467 in the last 90 days. 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.

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