Valliance Asset Management Ltd Makes New $1.01 Million Investment in Ambarella, Inc. (NASDAQ:AMBA)

Key Points

• Valliance Asset Management Ltd has acquired 20,000 shares of Ambarella, Inc., valued at approximately $1,007,000, making it the fund's 13th largest position.
• A number of institutional investors, including Mackenzie Financial Corp and Skandinaviska Enskilda Banken AB, have increased their holdings in Ambarella, signifying strong interest in the semiconductor company.
• Wall Street analysts have raised their price target for Ambarella, with a consensus rating of "Moderate Buy" and an average price target of $83.64.

Valliance Asset Management Ltd bought a new position in Ambarella, Inc. (NASDAQ:AMBA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 20,000 shares of the semiconductor company's stock, valued at approximately $1,007,000. Ambarella comprises approximately 2.3% of Valliance Asset Management Ltd's investment portfolio, making the stock its 13th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Ambarella during the 4th quarter valued at $37,000. Sterling Capital Management LLC boosted its position in Ambarella by 629.3% in the 4th quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company's stock valued at $43,000 after buying an additional 516 shares during the period. Johnson Financial Group Inc. purchased a new stake in Ambarella in the 4th quarter valued at about $71,000. National Bank of Canada FI purchased a new stake in Ambarella in the 4th quarter valued at about $69,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Ambarella by 300.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,124 shares of the semiconductor company's stock worth $82,000 after purchasing an additional 843 shares during the period. Hedge funds and other institutional investors own 82.09% of the company's stock.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 1,000 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $62.58, for a total value of $62,580.00. Following the sale, the director directly owned 39,281 shares of the company's stock, valued at approximately $2,458,204.98. This represents a 2.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.30% of the company's stock.

Analysts Set New Price Targets

AMBA has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Ambarella from $90.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 27th. Rosenblatt Securities boosted their price objective on shares of Ambarella from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Stifel Nicolaus reduced their price objective on shares of Ambarella from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Summit Insights upgraded shares of Ambarella to a "hold" rating in a research report on Thursday, May 29th. Finally, Susquehanna upped their price target on shares of Ambarella from $80.00 to $90.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Ambarella presently has an average rating of "Moderate Buy" and an average price target of $83.64.

Ambarella Stock Performance

NASDAQ AMBA traded down $2.44 during trading hours on Friday, reaching $63.65. The company's stock had a trading volume of 366,136 shares, compared to its average volume of 863,023. The stock has a market cap of $2.70 billion, a PE ratio of -25.59 and a beta of 2.05. Ambarella, Inc. has a fifty-two week low of $38.86 and a fifty-two week high of $85.15. The company's 50-day moving average is $61.86 and its two-hundred day moving average is $60.84.

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.