Millennium Management LLC Grows Position in Ambarella, Inc. (NASDAQ:AMBA)

Millennium Management LLC lifted its stake in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,394,192 shares of the semiconductor company's stock after acquiring an additional 144,268 shares during the quarter. Millennium Management LLC owned 3.34% of Ambarella worth $101,414,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Barclays PLC grew its position in Ambarella by 281.3% in the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company's stock worth $21,891,000 after purchasing an additional 286,296 shares during the period. FNY Investment Advisers LLC boosted its stake in shares of Ambarella by 52.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,248 shares of the semiconductor company's stock worth $163,000 after buying an additional 770 shares during the last quarter. Heritage Family Offices LLP bought a new stake in shares of Ambarella in the fourth quarter worth $213,000. Tributary Capital Management LLC increased its position in Ambarella by 15.4% during the fourth quarter. Tributary Capital Management LLC now owns 287,565 shares of the semiconductor company's stock valued at $20,917,000 after acquiring an additional 38,380 shares during the last quarter. Finally, Register Financial Advisors LLC purchased a new stake in Ambarella during the fourth quarter valued at $240,000. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Price Performance

Shares of AMBA stock traded up $0.89 on Friday, hitting $63.51. 653,307 shares of the stock traded hands, compared to its average volume of 693,649. Ambarella, Inc. has a 52 week low of $38.86 and a 52 week high of $85.15. The firm has a 50 day simple moving average of $49.83 and a two-hundred day simple moving average of $63.23. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -16.45 and a beta of 1.99.

Analyst Ratings Changes

Several research analysts have issued reports on AMBA shares. Stifel Nicolaus dropped their target price on Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. StockNews.com raised shares of Ambarella from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Susquehanna boosted their target price on shares of 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 upped their target price on shares of Ambarella from $100.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $100.00 price target on shares of Ambarella in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $85.00.

Insider Activity

In other Ambarella news, 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 transaction of $115,707.06. Following the completion of the sale, the chief financial officer now directly owns 113,886 shares of the company's stock, valued at $6,266,007.72. This trade represents a 1.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Feng-Ming Wang sold 3,194 shares of the business's stock in a transaction on Tuesday, March 18th. The stock was 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 $43,923,071.22. This trade represents a 0.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,328 shares of company stock worth $513,467 over the last ninety days. Corporate insiders own 5.30% of the company's stock.

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.