Castleark Management LLC Invests $2.33 Million in Ambarella, Inc. (NASDAQ:AMBA)

Castleark Management LLC acquired a new position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 31,960 shares of the semiconductor company's stock, valued at approximately $2,325,000. Castleark Management LLC owned approximately 0.08% of Ambarella as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Tributary Capital Management LLC increased its position in shares of Ambarella by 15.4% during the 4th quarter. Tributary Capital Management LLC now owns 287,565 shares of the semiconductor company's stock worth $20,917,000 after purchasing an additional 38,380 shares during the last quarter. Asset Management One Co. Ltd. bought a new stake in Ambarella in the 4th quarter valued at about $553,000. Artemis Wealth Advisors LLC acquired a new stake in Ambarella during the fourth quarter worth approximately $1,455,000. Pinnacle Wealth Management Advisory Group LLC bought a new stake in shares of Ambarella during the 4th quarter valued at $256,000. Finally, Van ECK Associates Corp increased its position in shares of Ambarella by 118.1% in the fourth quarter. Van ECK Associates Corp now owns 9,951 shares of the semiconductor company's stock worth $724,000 after purchasing an additional 5,388 shares during the period. 82.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ambarella news, VP Christopher Day sold 479 shares of Ambarella stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $26,354.58. Following the sale, the vice president now owns 15,441 shares of the company's stock, valued at approximately $849,563.82. The trade was a 3.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John Alexander Young sold 2,103 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $115,707.06. Following the completion of the transaction, the chief financial officer now owns 113,886 shares in the company, valued at approximately $6,266,007.72. The trade was a 1.81% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,328 shares of company stock worth $513,467. 5.30% of the stock is owned by corporate insiders.

Ambarella Stock Up 1.6%

NASDAQ AMBA traded up $0.97 on Tuesday, hitting $63.08. The company's stock had a trading volume of 276,390 shares, compared to its average volume of 697,015. The company's 50-day moving average is $50.92 and its 200 day moving average is $63.45. Ambarella, Inc. has a 1-year low of $38.86 and a 1-year high of $85.15. The firm has a market cap of $2.68 billion, a PE ratio of -16.27 and a beta of 1.99.

Analyst Ratings Changes

A number of analysts have recently weighed in on AMBA shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 price target on shares of Ambarella in a report on Thursday, February 27th. Wall Street Zen upgraded shares of Ambarella from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Stifel Nicolaus reduced their target price on Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Morgan Stanley decreased their price target on Ambarella from $90.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, Needham & Company LLC upped their price objective on Ambarella from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $84.17.

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.