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

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

A number of other hedge funds have also bought and sold shares of AMBA. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Ambarella in the fourth quarter valued at approximately $52,770,000. Invesco Ltd. increased its stake in Ambarella by 736.7% during the 4th quarter. Invesco Ltd. now owns 335,730 shares of the semiconductor company's stock worth $24,421,000 after acquiring an additional 295,606 shares during the period. Woodline Partners LP increased its stake in Ambarella by 2,367.1% during the 4th quarter. Woodline Partners LP now owns 263,333 shares of the semiconductor company's stock worth $19,155,000 after acquiring an additional 252,659 shares during the period. Sora Investors LLC raised its holdings in Ambarella by 91.0% in the 4th quarter. Sora Investors LLC now owns 353,372 shares of the semiconductor company's stock valued at $25,704,000 after acquiring an additional 168,372 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Ambarella by 345.2% during the 4th quarter. Alliancebernstein L.P. now owns 189,235 shares of the semiconductor company's stock valued at $13,765,000 after acquiring an additional 146,729 shares during the period. 82.09% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Christopher B. Paisley sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $62.58, for a total value of $62,580.00. Following the sale, the director now directly owns 39,281 shares in the company, valued at $2,458,204.98. This represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on AMBA. Stifel Nicolaus decreased their price target on Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Wall Street Zen upgraded shares of Ambarella from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Morgan Stanley cut their price target on shares of Ambarella from $90.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, May 27th. Needham & Company LLC lowered their price objective on shares of Ambarella from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Finally, Summit Insights upgraded Ambarella to a "hold" rating in a research note on Thursday, May 29th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $84.55.

Ambarella Price Performance

Shares of NASDAQ AMBA traded down $2.24 during mid-day trading on Friday, hitting $67.06. 2,743,269 shares of the stock traded hands, compared to its average volume of 759,478. The company has a market cap of $2.84 billion, a PE ratio of -26.93 and a beta of 1.99. Ambarella, Inc. has a twelve month low of $38.86 and a twelve month high of $85.15. The firm has a 50 day simple moving average of $54.57 and a two-hundred day simple moving average of $61.92.

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.