KG&L Capital Management LLC Buys New Holdings in Ambarella, Inc. (NASDAQ:AMBA)

KG&L Capital Management LLC acquired a new position in Ambarella, Inc. (NASDAQ:AMBA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,222 shares of the semiconductor company's stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ boosted its stake 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 purchasing an additional 184 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Ambarella in the 4th quarter worth approximately $37,000. Sterling Capital Management LLC boosted its stake 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 purchasing an additional 516 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Ambarella in the 4th quarter worth approximately $53,000. Finally, National Bank of Canada FI acquired a new stake in Ambarella in the 4th quarter worth approximately $69,000. Hedge funds and other institutional investors own 82.09% of the company's stock.

Wall Street Analyst Weigh In

AMBA has been the subject of several research reports. Morgan Stanley decreased their price objective 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. Stifel Nicolaus decreased their target price on shares of Ambarella from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Needham & Company LLC decreased their target price 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. Finally, Rosenblatt Securities boosted their target price on shares of Ambarella from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $84.55.

Insiders Place Their Bets

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

Ambarella Stock Down 1.5%

AMBA stock traded down $0.99 during mid-day trading on Monday, hitting $66.07. 969,175 shares of the company were exchanged, compared to its average volume of 761,593. The firm has a market capitalization of $2.80 billion, a P/E ratio of -26.53 and a beta of 1.99. The business has a fifty day simple moving average of $55.54 and a 200-day simple moving average of $61.69. Ambarella, Inc. has a 12-month low of $38.86 and a 12-month high of $85.15.

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.