Neuberger Berman Group LLC Purchases 69,960 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Key Points

• Neuberger Berman Group LLC increased its position in Ambarella, Inc. by 137.9%, owning approximately 120,704 shares valued at about $6,075,000.
• Institutional investors own 82.09% of Ambarella's stock, with several firms significantly boosting their stakes in recent quarters.
• Research analysts have mixed views on Ambarella's stock, with five holding a "hold" rating and eight giving it a "buy" rating, setting an average target price of $83.64.

Neuberger Berman Group LLC lifted its stake in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 137.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,704 shares of the semiconductor company's stock after acquiring an additional 69,960 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.28% of Ambarella worth $6,075,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of AMBA. Fuller & Thaler Asset Management Inc. bought a new stake in Ambarella in the fourth quarter worth $52,770,000. Nuveen LLC bought a new stake in Ambarella in the first quarter worth $32,169,000. Segall Bryant & Hamill LLC bought a new stake in Ambarella in the first quarter worth $15,578,000. Invesco Ltd. boosted its holdings in Ambarella by 736.7% in the fourth quarter. Invesco Ltd. now owns 335,730 shares of the semiconductor company's stock worth $24,421,000 after purchasing an additional 295,606 shares in the last quarter. Finally, Woodline Partners LP boosted its holdings in Ambarella by 2,367.1% in the fourth quarter. Woodline Partners LP now owns 263,333 shares of the semiconductor company's stock worth $19,155,000 after purchasing an additional 252,659 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMBA. Rosenblatt Securities upped their price objective on shares of Ambarella from $87.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Morgan Stanley decreased 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. Summit Insights upgraded shares of Ambarella to a "hold" rating in a report on Thursday, May 29th. Susquehanna raised their price target on shares of Ambarella from $80.00 to $90.00 and gave the stock a "positive" rating in a research report on Tuesday, July 22nd. Finally, Needham & Company LLC reduced 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. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Ambarella has a consensus rating of "Moderate Buy" and an average target price of $83.64.

Ambarella Price Performance

Shares of Ambarella stock traded down $1.59 on Friday, hitting $66.99. 426,422 shares of the company's stock traded hands, compared to its average volume of 502,670. The firm's 50-day moving average price is $63.67 and its two-hundred day moving average price is $59.61. The stock has a market capitalization of $2.84 billion, a PE ratio of -26.90 and a beta of 2.08. Ambarella, Inc. has a one year low of $38.86 and a one year high of $85.15.

Insider Activity

In other news, Director Christopher B. Paisley sold 1,000 shares of the business's stock in a transaction on 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 transaction, the director owned 39,281 shares of the company's stock, valued at $2,458,204.98. The trade was a 2.48% decrease in their position. 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 company insiders.

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.