Renaissance Technologies LLC Buys New Position in Ambarella, Inc. (NASDAQ:AMBA)

Renaissance Technologies LLC acquired a new position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 43,000 shares of the semiconductor company's stock, valued at approximately $3,128,000. Renaissance Technologies LLC owned about 0.10% of Ambarella as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AMBA. Barclays PLC increased its holdings in Ambarella by 281.3% in the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company's stock valued at $21,891,000 after purchasing an additional 286,296 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Ambarella during the third quarter valued at about $3,905,000. FNY Investment Advisers LLC grew its stake in shares of Ambarella by 52.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,248 shares of the semiconductor company's stock valued at $163,000 after acquiring an additional 770 shares in the last quarter. Heritage Family Offices LLP acquired a new stake in shares of Ambarella during the fourth quarter valued at about $213,000. Finally, Tributary Capital Management LLC lifted its position in shares of Ambarella by 15.4% during the fourth quarter. Tributary Capital Management LLC now owns 287,565 shares of the semiconductor company's stock worth $20,917,000 after purchasing an additional 38,380 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ambarella

In related news, Director Christopher B. Paisley sold 500 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $55.50, for a total transaction of $27,750.00. Following the transaction, the director now directly owns 40,281 shares of the company's stock, valued at approximately $2,235,595.50. The trade was a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Feng-Ming Wang sold 3,194 shares of the company'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 $175,733.88. Following the transaction, the chief executive officer now directly owns 798,311 shares in the company, valued at $43,923,071.22. The trade was a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,328 shares of company stock valued at $513,467. Company insiders own 5.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AMBA shares. StockNews.com raised shares of Ambarella from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Needham & Company LLC increased their price target on shares of Ambarella from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Susquehanna increased their price target on shares of Ambarella from $95.00 to $100.00 and gave the stock a "positive" rating in a research report on Wednesday, January 22nd. Stifel Nicolaus cut their target price on shares of Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $100.00 target price on shares of Ambarella in a report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $85.00.

Ambarella Price Performance

Shares of Ambarella stock traded down $0.17 during trading on Tuesday, hitting $47.12. The stock had a trading volume of 30,781 shares, compared to its average volume of 692,080. The firm has a market cap of $2.00 billion, a P/E ratio of -12.19 and a beta of 1.86. The business has a fifty day moving average of $52.32 and a two-hundred day moving average of $63.68. Ambarella, Inc. has a fifty-two week low of $38.86 and a fifty-two week 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.