Ambarella, Inc. (NASDAQ:AMBA) Short Interest Up 5.9% in November

Ambarella, Inc. (NASDAQ:AMBA) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 1,430,000 shares, an increase of 5.9% from the October 31st total of 1,350,000 shares. Based on an average daily volume of 562,300 shares, the short-interest ratio is presently 2.5 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMBA shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price target on shares of Ambarella in a research note on Friday, August 23rd. Roth Mkm reiterated a “neutral” rating and set a $60.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Needham & Company LLC increased their price objective on shares of Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. TD Cowen increased their price objective on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Craig Hallum increased their price objective on shares of Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.67.

Insiders Place Their Bets

In related news, CTO Leslie Kohn sold 1,608 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $86,092.32. Following the completion of the transaction, the chief technology officer now owns 961,433 shares of the company’s stock, valued at $51,475,122.82. This represents a 0.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John Alexander Young sold 2,139 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $114,522.06. Following the completion of the transaction, the chief financial officer now directly owns 103,529 shares of the company’s stock, valued at approximately $5,542,942.66. The trade was a 2.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,460 shares of company stock worth $1,013,172 in the last quarter. Corporate insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Large investors have recently bought and sold shares of the stock. Azzad Asset Management Inc. ADV lifted its stake in shares of Ambarella by 2.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock valued at $539,000 after buying an additional 231 shares in the last quarter. Versor Investments LP lifted its stake in shares of Ambarella by 5.9% in the third quarter. Versor Investments LP now owns 4,619 shares of the semiconductor company’s stock valued at $261,000 after buying an additional 256 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Ambarella by 6.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,767 shares of the semiconductor company’s stock valued at $269,000 after buying an additional 285 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of Ambarella by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock valued at $945,000 after buying an additional 288 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of Ambarella by 127.7% in the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 304 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Ambarella Trading Down 1.9 %

NASDAQ:AMBA opened at $70.17 on Tuesday. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -18.18 and a beta of 1.63. The firm has a fifty day simple moving average of $59.60 and a two-hundred day simple moving average of $55.59. Ambarella has a 12 month low of $39.69 and a 12 month high of $81.32.

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.