6,464 Shares in Ambarella, Inc. (NASDAQ:AMBA) Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new stake in Ambarella, Inc. (NASDAQ:AMBA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,464 shares of the semiconductor company's stock, valued at approximately $325,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in shares of Ambarella by 4.0% during the 1st quarter. Rhumbline Advisers now owns 58,571 shares of the semiconductor company's stock worth $2,948,000 after acquiring an additional 2,249 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Ambarella by 238.3% during the first quarter. Janney Montgomery Scott LLC now owns 13,474 shares of the semiconductor company's stock worth $678,000 after purchasing an additional 9,491 shares during the period. GAMMA Investing LLC grew its stake in Ambarella by 6,804.3% during the first quarter. GAMMA Investing LLC now owns 16,156 shares of the semiconductor company's stock worth $813,000 after purchasing an additional 15,922 shares during the period. Proficio Capital Partners LLC bought a new position in Ambarella in the fourth quarter worth approximately $1,032,000. Finally, Sei Investments Co. boosted its position in shares of Ambarella by 17.6% during the fourth quarter. Sei Investments Co. now owns 10,959 shares of the semiconductor company's stock valued at $797,000 after buying an additional 1,639 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lowered their target price on Ambarella from $90.00 to $80.00 and set an "overweight" rating for the company in a research note 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. Susquehanna boosted their target price on Ambarella from $80.00 to $90.00 and gave the company a "positive" rating in a research report on Tuesday. Summit Insights upgraded Ambarella to a "hold" rating in a report on Thursday, May 29th. Finally, 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 report on Friday, May 30th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $83.64.

Insiders Place Their Bets

In other news, Director Christopher B. Paisley sold 1,000 shares of Ambarella stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $62.58, for a total transaction of $62,580.00. Following the completion of the sale, the director owned 39,281 shares in the company, 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 through this link. 5.70% of the stock is currently owned by company insiders.

Ambarella Price Performance

Ambarella stock traded down $1.63 during midday trading on Tuesday, hitting $68.12. 560,274 shares of the stock were exchanged, compared to its average volume of 763,809. Ambarella, Inc. has a 1 year low of $38.86 and a 1 year high of $85.15. The company has a 50 day moving average price of $61.03 and a two-hundred day moving average price of $61.07. The firm has a market cap of $2.89 billion, a P/E ratio of -27.36 and a beta of 2.05.

Ambarella Company 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.