Baillie Gifford & Co. Sells 39,277 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Key Points

• Baillie Gifford & Co. decreased its stake in Ambarella, Inc. by 11.9%, selling 39,277 shares and retaining 289,923 shares valued at approximately $14.6 million.
• Several institutional investors increased their holdings in Ambarella, with total institutional ownership currently at 82.09%.
• Recent analyst ratings for Ambarella show a consensus of "Moderate Buy" with target prices ranging from $80.00 to $95.00, indicating positive market sentiment.

Baillie Gifford & Co. lowered its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 11.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 289,923 shares of the semiconductor company's stock after selling 39,277 shares during the period. Baillie Gifford & Co. owned 0.68% of Ambarella worth $14,592,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in AMBA. Aster Capital Management DIFC Ltd acquired a new position in shares of Ambarella during the fourth quarter worth $37,000. Sterling Capital Management LLC grew its stake in shares of Ambarella by 629.3% in the fourth 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 last quarter. Johnson Financial Group Inc. bought a new stake in shares of Ambarella in the fourth quarter worth $71,000. National Bank of Canada FI bought a new stake in shares of Ambarella in the fourth quarter worth $69,000. Finally, Tower Research Capital LLC TRC grew its holdings in Ambarella by 300.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,124 shares of the semiconductor company's stock worth $82,000 after acquiring an additional 843 shares during the period. Institutional investors own 82.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMBA. Susquehanna increased their price objective 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. Needham & Company LLC decreased 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. Morgan Stanley decreased their price target 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. Summit Insights upgraded shares of Ambarella to a "hold" rating in a research note on Thursday, May 29th. Finally, Stifel Nicolaus cut their price objective on shares of Ambarella from $100.00 to $80.00 and set a "buy" rating for the company in a 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, the stock has an average rating of "Moderate Buy" and an average price target of $83.64.

Ambarella Stock Performance

AMBA traded up $0.13 on Wednesday, reaching $68.78. 105,970 shares of the company's stock were exchanged, compared to its average volume of 865,380. The company's 50 day moving average is $61.72 and its 200-day moving average is $60.85. The company has a market cap of $2.92 billion, a price-to-earnings ratio of -27.56 and a beta of 2.05. Ambarella, Inc. has a twelve month low of $38.86 and a twelve month high of $85.15.

Insider Transactions at Ambarella

In other Ambarella news, Director Christopher B. Paisley sold 1,000 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $62.58, for a total value of $62,580.00. Following the sale, the director directly owned 39,281 shares in the company, valued at approximately $2,458,204.98. This trade represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.70% of the stock is owned by company insiders.

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.