Bank of America Corp DE reduced its stake in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 14.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 386,623 shares of the semiconductor company's stock after selling 66,864 shares during the period. Bank of America Corp DE owned approximately 0.93% of Ambarella worth $28,123,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in AMBA. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Ambarella by 68.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company's stock worth $32,000 after buying an additional 184 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Ambarella in the 4th quarter worth about $37,000. Sterling Capital Management LLC boosted its position 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 buying an additional 516 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Ambarella in the 4th quarter worth about $53,000. Finally, R Squared Ltd purchased a new stake in shares of Ambarella in the 4th quarter worth about $68,000. 82.09% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently commented on AMBA. Stifel Nicolaus decreased their price objective on shares of Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC boosted their price objective on shares of Ambarella from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. StockNews.com upgraded shares of Ambarella from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 price target on shares of Ambarella in a research note on Thursday, February 27th. Finally, Susquehanna raised their price target on shares of Ambarella from $95.00 to $100.00 and gave the stock a "positive" rating in a research note on Wednesday, January 22nd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $85.00.
Get Our Latest Analysis on AMBA
Insider Transactions at Ambarella
In other news, VP Christopher Day sold 479 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total transaction 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 represents a 3.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Feng-Ming Wang sold 3,194 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $175,733.88. Following the transaction, the chief executive officer now owns 798,311 shares in the company, valued at approximately $43,923,071.22. The trade was a 0.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,328 shares of company stock worth $513,467 in the last three months. Company insiders own 5.30% of the company's stock.
Ambarella Price Performance
Shares of AMBA stock opened at $63.51 on Friday. The firm has a market cap of $2.69 billion, a P/E ratio of -16.45 and a beta of 1.99. Ambarella, Inc. has a 1-year low of $38.86 and a 1-year high of $85.15. The firm's 50-day simple moving average is $49.83 and its 200-day simple moving average is $63.23.
About Ambarella
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding AMBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ambarella, Inc. (NASDAQ:AMBA - Free Report).
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