Ambarella, Inc. (NASDAQ:AMBA) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 72.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,537 shares of the semiconductor company's stock after selling 40,723 shares during the period. New York State Common Retirement Fund's holdings in Ambarella were worth $952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its holdings in Ambarella by 1,276.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 403,197 shares of the semiconductor company's stock valued at $24,712,000 after purchasing an additional 373,915 shares during the last quarter. Rokos Capital Management LLP raised its holdings in shares of Ambarella by 121.0% in the third quarter. Rokos Capital Management LLP now owns 649,574 shares of the semiconductor company's stock worth $34,626,000 after buying an additional 355,689 shares during the period. Vanguard Group Inc. raised its holdings in shares of Ambarella by 3.6% in the third quarter. Vanguard Group Inc. now owns 4,022,670 shares of the semiconductor company's stock worth $213,322,000 after buying an additional 139,767 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Ambarella by 31.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 429,892 shares of the semiconductor company's stock valued at $22,797,000 after acquiring an additional 103,978 shares during the period. Finally, Freemont Management S.A. grew its position in Ambarella by 1,887.0% in the 3rd quarter. Freemont Management S.A. now owns 107,300 shares of the semiconductor company's stock valued at $5,690,000 after acquiring an additional 101,900 shares during the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMBA has been the subject of several research reports. StockNews.com raised shares of Ambarella to a "sell" rating in a research report on Friday, April 26th. Susquehanna raised their price objective on Ambarella from $70.00 to $80.00 and gave the stock a "positive" rating in a report on Wednesday, February 28th. Bank of America decreased their target price on Ambarella from $62.00 to $50.00 and set an "underperform" rating for the company in a research report on Tuesday, April 16th. Needham & Company LLC reissued a "buy" rating and set a $90.00 price target on shares of Ambarella in a research report on Wednesday, February 28th. Finally, Morgan Stanley lifted their price objective on Ambarella from $67.00 to $73.00 and gave the company an "overweight" rating in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $71.08.

Ambarella Price Performance

Ambarella stock traded up $0.12 during trading hours on Monday, reaching $45.97. The stock had a trading volume of 851,662 shares, compared to its average volume of 558,845. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -10.98 and a beta of 1.65. The business's 50 day moving average price is $48.57 and its 200-day moving average price is $53.17. Ambarella, Inc. has a 52 week low of $40.31 and a 52 week high of $89.18.

Ambarella (NASDAQ:AMBA - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The semiconductor company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($0.98) by $0.03. Ambarella had a negative net margin of 74.81% and a negative return on equity of 23.78%. The firm had revenue of $51.62 million during the quarter, compared to analyst estimates of $51.68 million. On average, sell-side analysts forecast that Ambarella, Inc. will post -3.53 EPS for the current fiscal year.

Insider Activity

In related news, COO Chan W. Lee sold 1,075 shares of Ambarella stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $49.27, for a total value of $52,965.25. Following the completion of the sale, the chief operating officer now directly owns 124,146 shares in the company, valued at approximately $6,116,673.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ambarella news, COO Chan W. Lee sold 1,075 shares of the business's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $49.27, for a total transaction of $52,965.25. Following the sale, the chief operating officer now owns 124,146 shares in the company, valued at approximately $6,116,673.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO John Alexander Young sold 1,546 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $49.27, for a total value of $76,171.42. Following the completion of the transaction, the chief financial officer now directly owns 107,571 shares in the company, valued at $5,300,023.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,648 shares of company stock worth $327,595. Insiders own 5.70% of the company's stock.

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.