Principal Financial Group Inc. Boosts Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Principal Financial Group Inc. raised its position in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 61.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 25,794 shares of the semiconductor company's stock after acquiring an additional 9,857 shares during the period. Principal Financial Group Inc. owned approximately 0.06% of Ambarella worth $1,298,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. increased its position in Ambarella by 4.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,964 shares of the semiconductor company's stock valued at $288,000 after buying an additional 161 shares in the last quarter. Mackenzie Financial Corp increased its position in Ambarella by 3.2% during the 4th quarter. Mackenzie Financial Corp now owns 6,406 shares of the semiconductor company's stock valued at $466,000 after buying an additional 201 shares in the last quarter. Pitcairn Co. increased its position in Ambarella by 6.2% during the 4th quarter. Pitcairn Co. now owns 5,839 shares of the semiconductor company's stock valued at $425,000 after buying an additional 340 shares in the last quarter. Cerity Partners LLC increased its position in Ambarella by 8.8% during the 4th quarter. Cerity Partners LLC now owns 5,098 shares of the semiconductor company's stock valued at $367,000 after buying an additional 413 shares in the last quarter. Finally, Mariner LLC boosted its stake in Ambarella by 8.2% during the 4th quarter. Mariner LLC now owns 6,098 shares of the semiconductor company's stock valued at $444,000 after purchasing an additional 460 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on AMBA. Needham & Company LLC cut their target price on Ambarella from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Morgan Stanley decreased their target price on Ambarella from $90.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, May 27th. Rosenblatt Securities raised their price target on Ambarella from $87.00 to $95.00 and gave the company a "buy" rating in a report on Friday, May 30th. Summit Insights raised Ambarella to a "hold" rating in a report on Thursday, May 29th. Finally, Stifel Nicolaus decreased their price target on Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Ambarella presently has a consensus rating of "Moderate Buy" and an average price target of $83.64.

Ambarella Price Performance

Shares of NASDAQ:AMBA traded down $0.15 during trading hours on Wednesday, hitting $67.97. 731,511 shares of the company's stock traded hands, compared to its average volume of 765,290. The firm has a market capitalization of $2.88 billion, a P/E ratio of -27.30 and a beta of 2.05. The business has a fifty day moving average price of $61.32 and a 200-day moving average price of $61.17. Ambarella, Inc. has a 1 year low of $38.86 and a 1 year high of $85.15.

Insider Activity

In related news, Director Christopher B. Paisley sold 1,000 shares of the business's stock in a transaction that occurred 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.30% of the company's stock.

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.