Blueshift Asset Management LLC Invests $807,000 in Ambarella, Inc. (NASDAQ:AMBA)

Key Points

• Blueshift Asset Management LLC acquired 16,043 shares of Ambarella, Inc. valued at approximately $807,000 during the first quarter, marking a new investment position in the semiconductor company.
• Ambarella's stock currently has a market capitalization of $2.80 billion, with shares opening at $66.09 and a annual low of $38.86 and a high of $85.15.
• Several analysts have recommended **buy** or **hold** ratings for Ambarella, with the average consensus target price set at $83.64, indicating potential for future growth.

Blueshift Asset Management LLC purchased a new position in Ambarella, Inc. (NASDAQ:AMBA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,043 shares of the semiconductor company's stock, valued at approximately $807,000.

A number of other institutional investors also recently made changes to their positions in AMBA. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Ambarella in the fourth quarter worth $52,770,000. Segall Bryant & Hamill LLC acquired a new position in shares of Ambarella in the first quarter worth $15,578,000. Invesco Ltd. increased its stake in Ambarella by 736.7% in the fourth quarter. Invesco Ltd. now owns 335,730 shares of the semiconductor company's stock valued at $24,421,000 after purchasing an additional 295,606 shares during the last quarter. Woodline Partners LP increased its stake in Ambarella by 2,367.1% in the fourth quarter. Woodline Partners LP now owns 263,333 shares of the semiconductor company's stock valued at $19,155,000 after purchasing an additional 252,659 shares during the last quarter. Finally, Sora Investors LLC increased its stake in Ambarella by 91.0% in the fourth quarter. Sora Investors LLC now owns 353,372 shares of the semiconductor company's stock valued at $25,704,000 after purchasing an additional 168,372 shares during the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.

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 dated Wednesday, June 25th. The stock was sold at an average price of $62.58, for a total value of $62,580.00. Following the completion of the sale, the director owned 39,281 shares of the company's stock, valued at $2,458,204.98. This represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.70% of the stock is owned by insiders.

Ambarella Price Performance

AMBA stock traded up $0.17 during trading on Monday, reaching $63.91. 229,418 shares of the stock traded hands, compared to its average volume of 859,883. The business's 50 day moving average price is $61.89 and its 200-day moving average price is $60.66. Ambarella, Inc. has a 52-week low of $38.86 and a 52-week high of $85.15. The firm has a market capitalization of $2.71 billion, a PE ratio of -25.66 and a beta of 2.08.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AMBA shares. Susquehanna upped their target price on Ambarella from $80.00 to $90.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Rosenblatt Securities upped their target price on Ambarella from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Needham & Company LLC dropped their target price on 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 upgraded Ambarella to a "hold" rating in a research note on Thursday, May 29th. Finally, Morgan Stanley dropped their target price on Ambarella from $90.00 to $80.00 and set an "overweight" rating for the company in a research note 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.