Lord Abbett & CO. LLC Boosts Stock Position in Ambarella, Inc. (NASDAQ:AMBA)

Lord Abbett & CO. LLC boosted its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 92.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,060 shares of the semiconductor company's stock after buying an additional 63,836 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.32% of Ambarella worth $9,679,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMBA. Vanguard Group Inc. grew its stake in shares of Ambarella by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 4,696,124 shares of the semiconductor company's stock valued at $341,596,000 after acquiring an additional 81,557 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of Ambarella by 8.9% during the 4th quarter. William Blair Investment Management LLC now owns 829,052 shares of the semiconductor company's stock worth $60,305,000 after purchasing an additional 68,044 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Ambarella in the fourth quarter valued at approximately $52,770,000. Stephens Investment Management Group LLC boosted its stake in shares of Ambarella by 0.5% in the fourth quarter. Stephens Investment Management Group LLC now owns 503,468 shares of the semiconductor company's stock valued at $36,622,000 after buying an additional 2,432 shares during the period. Finally, Barclays PLC grew its position in Ambarella by 281.3% during the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company's stock worth $21,891,000 after buying an additional 286,296 shares in the last quarter. Institutional investors own 82.09% of the company's stock.

Insider Buying and Selling at Ambarella

In other Ambarella news, CTO Leslie Kohn sold 1,584 shares of the firm's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $87,151.68. Following the transaction, the chief technology officer now directly owns 981,392 shares of the company's stock, valued at approximately $53,996,187.84. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Feng-Ming Wang sold 3,194 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total transaction of $175,733.88. Following the completion of the transaction, the chief executive officer now directly owns 798,311 shares in the company, valued at approximately $43,923,071.22. The trade was a 0.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,328 shares of company stock valued at $513,467. Corporate insiders own 5.70% of the company's stock.

Ambarella Stock Performance

Shares of Ambarella stock traded up $2.26 on Friday, reaching $50.42. 257,167 shares of the company's stock were exchanged, compared to its average volume of 689,633. The company has a market capitalization of $2.14 billion, a P/E ratio of -13.06 and a beta of 1.86. Ambarella, Inc. has a 52 week low of $38.86 and a 52 week high of $85.15. The firm's 50-day moving average is $50.48 and its two-hundred day moving average is $63.37.

Wall Street Analysts Forecast Growth

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

Ambarella 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.