Ambarella, Inc. (NASDAQ:AMBA) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,887 shares of the semiconductor company's stock after acquiring an additional 4,276 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.26% of Ambarella worth $5,581,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Ambarella during the 1st quarter worth about $362,000. Vanguard Group Inc. boosted its stake in shares of Ambarella by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 4,848,305 shares of the semiconductor company's stock worth $244,015,000 after acquiring an additional 152,181 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Ambarella by 133.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,317 shares of the semiconductor company's stock worth $217,000 after acquiring an additional 2,464 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Ambarella during the 1st quarter worth about $807,000. Finally, US Bancorp DE boosted its stake in shares of Ambarella by 215.3% during the 1st quarter. US Bancorp DE now owns 15,203 shares of the semiconductor company's stock worth $765,000 after acquiring an additional 10,381 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Susquehanna increased their target price on shares of Ambarella from $80.00 to $90.00 and gave the stock a "positive" rating in a research note on Tuesday, July 22nd. Stifel Nicolaus lowered their target price on shares of Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Summit Insights raised shares of Ambarella to a "hold" rating in a research note on Thursday, May 29th. Morgan Stanley reduced their price target on shares of Ambarella from $90.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, May 27th. Finally, Needham & Company LLC reduced their price target 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. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $83.64.

Ambarella Stock Performance

Shares of AMBA traded down $0.66 during mid-day trading on Thursday, hitting $68.58. 502,938 shares of the company were exchanged, compared to its average volume of 523,488. Ambarella, Inc. has a 1-year low of $38.86 and a 1-year high of $85.15. The company has a 50 day moving average of $63.40 and a 200-day moving average of $59.89. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of -27.54 and a beta of 2.08.

Insider Buying and Selling

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 value of $62,580.00. Following the completion of the sale, the director owned 39,281 shares in the company, valued at approximately $2,458,204.98. This represents a 2.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.30% of the company's stock.

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.