Red Spruce Capital LLC purchased a new position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,621 shares of the semiconductor company's stock, valued at approximately $434,000.
Other large investors have also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ boosted its position in Ambarella by 68.7% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 184 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Ambarella during the 4th quarter worth approximately $37,000. Sterling Capital Management LLC boosted its position in Ambarella by 629.3% during the 4th quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 516 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Ambarella during the 4th quarter worth approximately $53,000. Finally, R Squared Ltd acquired a new position in Ambarella during the 4th quarter worth approximately $68,000. Institutional investors and hedge funds own 82.09% of the company's stock.
Ambarella Price Performance
Ambarella stock traded down $10.29 during mid-day trading on Friday, hitting $51.71. 4,453,032 shares of the company's stock traded hands, compared to its average volume of 707,168. The firm has a 50 day simple moving average of $51.29 and a two-hundred day simple moving average of $63.42. Ambarella, Inc. has a fifty-two week low of $38.86 and a fifty-two week high of $85.15. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -13.40 and a beta of 1.99.
Analyst Upgrades and Downgrades
Several research firms have recently commented on AMBA. Summit Insights raised Ambarella to a "hold" rating in a report on Thursday. Morgan Stanley cut their price objective on Ambarella from $90.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday. Wall Street Zen raised Ambarella from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Stifel Nicolaus cut their price objective on Ambarella from $100.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Rosenblatt Securities increased their price objective on Ambarella from $87.00 to $95.00 and gave the company a "buy" rating in a report on Friday. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $82.08.
View Our Latest Stock Analysis on Ambarella
Insiders Place Their Bets
In other Ambarella news, CEO Feng-Ming Wang sold 3,194 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $175,733.88. Following the transaction, the chief executive officer now owns 798,311 shares in the company, valued at $43,923,071.22. This trade represents a 0.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher Day sold 479 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $26,354.58. Following the transaction, the vice president now owns 15,441 shares in the company, valued at $849,563.82. The trade was a 3.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,328 shares of company stock worth $513,467 in the last 90 days. Company insiders own 5.30% of the company's stock.
About Ambarella
(
Free Report)
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.
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