Ambarella, Inc. (NASDAQ:AMBA) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its holdings in Ambarella, Inc. (NASDAQ:AMBA) by 4.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,158 shares of the semiconductor company’s stock after selling 553 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ambarella were worth $820,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its position in Ambarella by 2.6% during the 3rd quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock worth $108,536,000 after purchasing an additional 47,856 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Ambarella by 4.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock valued at $76,332,000 after buying an additional 61,387 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Ambarella by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock valued at $51,719,000 after acquiring an additional 14,568 shares during the period. Point72 Asset Management L.P. raised its stake in Ambarella by 70.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock worth $48,626,000 after acquiring an additional 355,078 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Ambarella by 7.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 666,286 shares of the semiconductor company’s stock worth $37,582,000 after acquiring an additional 43,874 shares during the period. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Chi-Hong Ju sold 5,118 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $75.71, for a total transaction of $387,483.78. Following the completion of the transaction, the vice president now owns 158,686 shares in the company, valued at $12,014,117.06. This represents a 3.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Chan W. Lee sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $75.90, for a total transaction of $75,900.00. Following the completion of the transaction, the chief operating officer now directly owns 110,918 shares in the company, valued at $8,418,676.20. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,861 shares of company stock worth $1,945,436 over the last three months. 5.70% of the stock is currently owned by corporate insiders.

Ambarella Trading Down 4.6 %

NASDAQ AMBA opened at $73.29 on Wednesday. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -18.99 and a beta of 1.66. The stock has a 50-day moving average of $75.16 and a 200 day moving average of $62.45. Ambarella, Inc. has a twelve month low of $39.69 and a twelve month high of $85.15.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AMBA shares. Morgan Stanley increased their price objective on Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of Ambarella in a report on Friday, December 6th. Susquehanna lifted their price objective on shares of Ambarella from $95.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Bank of America upgraded shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research note on Monday, December 16th. Finally, StockNews.com downgraded shares of Ambarella from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. One research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $85.42.

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.