Wells Fargo & Company MN Boosts Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Wells Fargo & Company MN grew its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,397 shares of the semiconductor company's stock after buying an additional 7,312 shares during the quarter. Wells Fargo & Company MN owned 0.13% of Ambarella worth $3,884,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Ambarella by 68.7% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 184 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Ambarella during the fourth quarter valued at about $53,000. R Squared Ltd purchased a new position in Ambarella in the 4th quarter worth approximately $68,000. National Bank of Canada FI purchased a new position in shares of Ambarella in the fourth quarter worth $69,000. Finally, Pacer Advisors Inc. raised its stake in shares of Ambarella by 24.2% during the fourth quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company's stock valued at $70,000 after acquiring an additional 188 shares during the last quarter. 82.09% of the stock is owned by institutional investors.

Insider Transactions at Ambarella

In related news, Director Christopher B. Paisley sold 500 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $55.50, for a total value of $27,750.00. Following the completion of the transaction, the director now owns 40,281 shares of the company's stock, valued at $2,235,595.50. The trade was a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher Day sold 479 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $26,354.58. Following the sale, the vice president now directly owns 15,441 shares in the company, valued at $849,563.82. This trade represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,328 shares of company stock valued at $513,467. 5.70% of the stock is currently owned by company insiders.

Ambarella Stock Performance

AMBA stock traded up $0.91 during midday trading on Friday, reaching $47.57. The company's stock had a trading volume of 362,176 shares, compared to its average volume of 695,641. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -12.32 and a beta of 1.86. Ambarella, Inc. has a 1 year low of $38.86 and a 1 year high of $85.15. The stock has a fifty day simple moving average of $53.03 and a two-hundred day simple moving average of $63.70.

Analysts Set New Price Targets

Several equities analysts have commented on the company. 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 report on Thursday, February 27th. StockNews.com raised Ambarella from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Rosenblatt Securities reiterated a "buy" rating and set a $100.00 target price on shares of Ambarella in a research report on Thursday, February 27th. Susquehanna raised their price objective 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. Finally, 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 report on Thursday, April 17th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.