Nuveen LLC Takes $32.17 Million Position in Ambarella, Inc. $AMBA

Key Points

• Nuveen LLC has acquired a significant stake in Ambarella, Inc., purchasing 639,160 shares valued at approximately $32.17 million, representing about 1.51% of the company.
• Research analysts have recently set new price targets for Ambarella, with Susquehanna raising its target from $80 to $90, and multiple analysts maintaining a consensus rating of "Moderate Buy".
• Ambarella's stock has shown fluctuating performance, with a one-year low of $38.86 and a high of $85.15, currently trading at approximately $66.99.

Nuveen LLC acquired a new position in Ambarella, Inc. (NASDAQ:AMBA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 639,160 shares of the semiconductor company's stock, valued at approximately $32,169,000. Nuveen LLC owned approximately 1.51% of Ambarella at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC raised its holdings in Ambarella by 629.3% in the fourth 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. Larson Financial Group LLC raised its position in shares of Ambarella by 111.9% in the 1st quarter. Larson Financial Group LLC now owns 1,195 shares of the semiconductor company's stock worth $60,000 after purchasing an additional 631 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Ambarella in the 4th quarter worth about $71,000. Tower Research Capital LLC TRC raised its position in shares of Ambarella by 300.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,124 shares of the semiconductor company's stock worth $82,000 after purchasing an additional 843 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Ambarella by 452.4% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 2,497 shares of the semiconductor company's stock worth $126,000 after purchasing an additional 2,045 shares during the last quarter. Institutional investors own 82.09% of the company's stock.

Insider Activity

In other Ambarella news, Director Christopher B. Paisley sold 1,000 shares of the business's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $62.58, for a total transaction of $62,580.00. Following the completion of the sale, the director directly owned 39,281 shares in the company, valued at $2,458,204.98. The trade was a 2.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.30% of the stock is currently owned by corporate insiders.

Ambarella Stock Up 7.2%

Shares of Ambarella stock traded up $4.73 during trading hours on Friday, reaching $70.75. 193,730 shares of the stock traded hands, compared to its average volume of 825,760. The company has a 50 day moving average price of $64.68 and a 200 day moving average price of $59.58. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -28.32 and a beta of 2.08. Ambarella, Inc. has a one year low of $38.86 and a one year high of $85.15.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley lowered their price target on Ambarella from $90.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, May 27th. Susquehanna boosted their target price on Ambarella from $80.00 to $90.00 and gave the stock a "positive" rating in a research report on Tuesday, July 22nd. Rosenblatt Securities boosted their target price on Ambarella from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Needham & Company LLC decreased their target price on 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 raised Ambarella to a "hold" rating in a research report on Thursday, May 29th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $83.64.

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.