Ambarella, Inc. (NASDAQ:AMBA) Shares Bought by Principal Financial Group Inc.

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

Several other institutional investors have also recently made changes to their positions in AMBA. Proficio Capital Partners LLC acquired a new position in Ambarella during the 4th quarter worth about $1,032,000. Swiss National Bank grew its stake in shares of Ambarella by 1.3% in the fourth quarter. Swiss National Bank now owns 77,033 shares of the semiconductor company's stock valued at $5,603,000 after buying an additional 1,000 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Ambarella by 32.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 6,783 shares of the semiconductor company's stock worth $493,000 after acquiring an additional 1,669 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Ambarella by 11.8% in the 4th quarter. Natixis Advisors LLC now owns 12,218 shares of the semiconductor company's stock worth $889,000 after acquiring an additional 1,291 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Ambarella in the 4th quarter worth about $214,000. Institutional investors own 82.09% of the company's stock.

Ambarella Price Performance

Shares of Ambarella stock traded up $0.37 on Monday, reaching $69.75. 478,760 shares of the company traded hands, compared to its average volume of 762,949. The firm has a market capitalization of $2.96 billion, a PE ratio of -28.01 and a beta of 2.05. Ambarella, Inc. has a 52 week low of $38.86 and a 52 week high of $85.15. The company has a 50 day moving average of $60.81 and a 200 day moving average of $61.13.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC lowered their target price on shares of Ambarella from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Summit Insights raised shares of Ambarella to a "hold" rating in a research note on Thursday, May 29th. Morgan Stanley cut their target price on Ambarella from $90.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, May 27th. Rosenblatt Securities increased their target price on Ambarella from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Finally, Stifel Nicolaus lowered their price target on Ambarella from $100.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Ambarella presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.55.

Insider Activity

In other news, Director Christopher B. Paisley sold 1,000 shares of the business'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 transaction, the director directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.70% 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.