The Manufacturers Life Insurance Company Has $66.36 Million Stock Holdings in Ambarella, Inc. $AMBA

Key Points

• The Manufacturers Life Insurance Company reduced its shareholding in Ambarella, Inc. by 9.2%, now owning 1,318,557 shares valued at approximately $66.36 million.
• Investment analysts have raised their target price for Ambarella, with estimates ranging from $90.00 to $100.00, indicating a generally positive outlook for the stock.
• The firm has a current market capitalization of $3.50 billion and has shown significant volatility, with a 52-week trading range from $38.86 to $93.44.

The Manufacturers Life Insurance Company trimmed its position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,318,557 shares of the semiconductor company's stock after selling 133,571 shares during the period. The Manufacturers Life Insurance Company owned about 3.11% of Ambarella worth $66,363,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC raised its holdings in shares of Ambarella by 111.9% during the first quarter. Larson Financial Group LLC now owns 1,195 shares of the semiconductor company's stock worth $60,000 after acquiring an additional 631 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Ambarella by 300.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,124 shares of the semiconductor company's stock worth $82,000 after acquiring an additional 843 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Ambarella by 452.4% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 2,497 shares of the semiconductor company's stock worth $126,000 after acquiring an additional 2,045 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Ambarella during the first quarter worth $181,000. Finally, KG&L Capital Management LLC purchased a new stake in shares of Ambarella during the first quarter worth $212,000. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ambarella

In other news, Director Christopher B. Paisley sold 1,000 shares of Ambarella stock in a transaction dated 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 in the company, valued at approximately $2,458,204.98. The trade was a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.30% of the company's stock.

Wall Street Analysts Forecast Growth

AMBA has been the topic of several recent research reports. Needham & Company LLC raised their target price on Ambarella from $90.00 to $100.00 and gave the company a "buy" rating in a report on Friday. Northland Securities raised their target price on Ambarella from $75.00 to $95.00 and gave the company an "outperform" rating in a report on Friday. Bank of America raised their target price on Ambarella from $63.00 to $90.00 and gave the company a "neutral" rating in a report on Friday. Roth Capital restated a "neutral" rating on shares of Ambarella in a report on Friday. Finally, Susquehanna raised their target price on Ambarella from $80.00 to $90.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $93.88.

Ambarella Stock Performance

Ambarella stock opened at $82.48 on Friday. The business's 50-day simple moving average is $67.18 and its 200-day simple moving average is $59.32. The firm has a market capitalization of $3.50 billion, a PE ratio of -39.09 and a beta of 2.08. Ambarella, Inc. has a 52 week low of $38.86 and a 52 week high of $93.44.

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.

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