Ambarella, Inc. (NASDAQ:AMBA) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its stake in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 14.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 386,623 shares of the semiconductor company's stock after selling 66,864 shares during the quarter. Bank of America Corp DE owned about 0.93% of Ambarella worth $28,123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ boosted its holdings in 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 acquiring an additional 184 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Ambarella in the 4th quarter worth approximately $37,000. Sterling Capital Management LLC boosted its holdings in 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 acquiring an additional 516 shares during the period. SBI Securities Co. Ltd. purchased a new position in Ambarella in the 4th quarter worth approximately $53,000. Finally, R Squared Ltd purchased a new position in Ambarella in the 4th quarter worth approximately $68,000. Hedge funds and other institutional investors own 82.09% of the company's stock.

Insider Buying and Selling

In other news, CEO Feng-Ming Wang sold 3,194 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total transaction of $175,733.88. Following the completion of the transaction, the chief executive officer now owns 798,311 shares of the company's stock, valued at approximately $43,923,071.22. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher Day sold 479 shares of the business's stock in a transaction on 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 of the company's stock, valued at approximately $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 worth $513,467 over the last ninety days. 5.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AMBA has been the subject of a number of analyst reports. Stifel Nicolaus decreased their price target on Ambarella from $100.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Rosenblatt Securities reiterated a "buy" rating and set a $100.00 target price on shares of Ambarella in a research note on Thursday, February 27th. Wall Street Zen upgraded Ambarella from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Needham & Company LLC increased their target price on Ambarella from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.00.

Ambarella Price Performance

AMBA traded down $1.03 during trading hours on Friday, hitting $62.11. 478,956 shares of the stock were exchanged, compared to its average volume of 697,494. The stock has a 50-day simple moving average of $50.78 and a 200-day simple moving average of $63.41. Ambarella, Inc. has a 12 month low of $38.86 and a 12 month high of $85.15. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -16.09 and a beta of 1.99.

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.