Proficio Capital Partners LLC Acquires Shares of 14,184 Ambarella, Inc. (NASDAQ:AMBA)

Proficio Capital Partners LLC acquired a new stake in Ambarella, Inc. (NASDAQ:AMBA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,184 shares of the semiconductor company’s stock, valued at approximately $1,032,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMBA. Point72 Asset Management L.P. raised its stake in Ambarella by 70.0% in the third quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock valued at $48,626,000 after buying an additional 355,078 shares during the period. Barclays PLC increased its stake in shares of Ambarella by 281.3% during the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after purchasing an additional 286,296 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Ambarella during the third quarter worth approximately $3,905,000. The Manufacturers Life Insurance Company increased its stake 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 worth $76,332,000 after purchasing an additional 61,387 shares during the period. Finally, State Street Corp increased its stake in shares of Ambarella by 2.6% during the third 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 period. Institutional investors own 82.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 target price on shares of Ambarella in a research note on Thursday, February 27th. Morgan Stanley increased their target price on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Northland Securities restated an “outperform” rating and set a $95.00 price objective (up previously from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. StockNews.com upgraded Ambarella from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Craig Hallum raised their price objective on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $86.67.

Ambarella Stock Down 0.8 %

Shares of AMBA stock opened at $53.07 on Friday. The firm has a market capitalization of $2.21 billion, a P/E ratio of -13.75 and a beta of 1.78. Ambarella, Inc. has a twelve month low of $39.69 and a twelve month high of $85.15. The stock’s fifty day simple moving average is $74.17 and its 200 day simple moving average is $65.33.

Insider Buying and Selling

In other Ambarella news, Director Hsiao-Wuen Hon sold 377 shares of Ambarella stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $74.15, for a total transaction of $27,954.55. Following the transaction, the director now directly owns 28,278 shares of the company’s stock, valued at approximately $2,096,813.70. The trade was a 1.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Chi-Hong Ju sold 5,118 shares of Ambarella stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $75.71, for a total value of $387,483.78. Following the transaction, the vice president now directly owns 158,686 shares in the company, valued at $12,014,117.06. The trade was a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,583 shares of company stock worth $1,853,918 in the last 90 days. Insiders own 5.70% of the company’s stock.

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.