Woodline Partners LP Boosts Position in Ambarella, Inc. (NASDAQ:AMBA)

Woodline Partners LP raised its stake in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 2,367.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 263,333 shares of the semiconductor company's stock after buying an additional 252,659 shares during the quarter. Woodline Partners LP owned about 0.63% of Ambarella worth $19,155,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ grew its holdings in Ambarella by 68.7% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company's stock valued at $32,000 after buying an additional 184 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Ambarella during the 4th quarter valued at about $37,000. Sterling Capital Management LLC grew its holdings in Ambarella by 629.3% during 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 in the last quarter. SBI Securities Co. Ltd. purchased a new position in Ambarella during the 4th quarter valued at about $53,000. Finally, Johnson Financial Group Inc. purchased a new position in Ambarella during the 4th quarter valued at about $71,000. Hedge funds and other institutional investors own 82.09% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AMBA. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 target price on shares of Ambarella in a report on Thursday, February 27th. Susquehanna lifted their price target on Ambarella from $95.00 to $100.00 and gave the company a "positive" rating in a research report on Wednesday, January 22nd. Needham & Company LLC lifted their price target on Ambarella from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Stifel Nicolaus dropped their price target on Ambarella from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, StockNews.com upgraded Ambarella from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.00.

Insiders Place Their Bets

In other news, COO Chan W. Lee sold 1,468 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $80,769.36. Following the completion of the sale, the chief operating officer now owns 130,297 shares of the company's stock, valued at approximately $7,168,940.94. This represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John Alexander Young sold 2,103 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $115,707.06. Following the sale, the chief financial officer now directly owns 113,886 shares of the company's stock, valued at approximately $6,266,007.72. This trade represents a 1.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,328 shares of company stock valued at $513,467 over the last quarter. 5.70% of the stock is owned by corporate insiders.

Ambarella Price Performance

Shares of AMBA opened at $63.59 on Thursday. The firm has a market cap of $2.70 billion, a P/E ratio of -16.47 and a beta of 1.99. The stock has a 50 day simple moving average of $50.47 and a two-hundred day simple moving average of $63.33. Ambarella, Inc. has a 1 year low of $38.86 and a 1 year high of $85.15.

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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