Tributary Capital Management LLC Cuts Stake in Ambarella, Inc. (NASDAQ:AMBA)

Tributary Capital Management LLC reduced its stake in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 16.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 240,415 shares of the semiconductor company's stock after selling 47,150 shares during the period. Tributary Capital Management LLC owned approximately 0.57% of Ambarella worth $12,100,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Rhumbline Advisers grew its holdings in shares of Ambarella by 4.0% during the first quarter. Rhumbline Advisers now owns 58,571 shares of the semiconductor company's stock valued at $2,948,000 after buying an additional 2,249 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Ambarella by 238.3% during the first quarter. Janney Montgomery Scott LLC now owns 13,474 shares of the semiconductor company's stock valued at $678,000 after buying an additional 9,491 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Ambarella by 6,804.3% during the first quarter. GAMMA Investing LLC now owns 16,156 shares of the semiconductor company's stock valued at $813,000 after buying an additional 15,922 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Ambarella by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 325,001 shares of the semiconductor company's stock valued at $23,641,000 after buying an additional 4,682 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Ambarella during the fourth quarter valued at $1,032,000. 82.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Ambarella Trading Down 1.6%

Shares of Ambarella stock traded down $1.10 during trading hours on Friday, reaching $69.38. The stock had a trading volume of 590,225 shares, compared to its average volume of 762,972. The stock's 50 day moving average is $60.50 and its 200 day moving average is $61.32. The firm has a market capitalization of $2.94 billion, a PE ratio of -27.86 and a beta of 2.05. Ambarella, Inc. has a twelve month low of $38.86 and a twelve month high of $85.15.

Insider Activity at Ambarella

In other news, Director Christopher B. Paisley sold 1,000 shares of the business's stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.30% of the stock is owned by corporate insiders.

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.