Ambarella, Inc. (NASDAQ:AMBA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 150,897 shares of the semiconductor company’s stock after selling 6,416 shares during the period. Bank of New York Mellon Corp owned about 0.36% of Ambarella worth $10,976,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in shares of Ambarella by 6,014.3% in the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 842 shares during the last quarter. R Squared Ltd purchased a new position in Ambarella in the fourth quarter valued at $68,000. Truvestments Capital LLC acquired a new stake in Ambarella in the third quarter valued at $69,000. Pacer Advisors Inc. raised its stake in Ambarella by 24.2% in the fourth quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company’s stock valued at $70,000 after buying an additional 188 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in Ambarella by 21.8% during the 4th quarter. Manchester Capital Management LLC now owns 1,175 shares of the semiconductor company’s stock worth $85,000 after buying an additional 210 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMBA. Northland Securities reissued an “outperform” rating and set a $95.00 target price (up previously from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Needham & Company LLC increased their price target on shares of Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Susquehanna boosted their price objective 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. Morgan Stanley increased their target price on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Finally, StockNews.com upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.67.

Insider Activity at Ambarella

In related news, CEO Feng-Ming Wang sold 4,296 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $75.41, for a total value of $323,961.36. Following the completion of the transaction, the chief executive officer now owns 755,231 shares of the company’s stock, valued at approximately $56,951,969.71. The trade was a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher Day sold 482 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $75.41, for a total transaction of $36,347.62. Following the transaction, the vice president now directly owns 16,706 shares in the company, valued at $1,259,799.46. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,088 shares of company stock valued at $1,438,480 in the last ninety days. Corporate insiders own 5.70% of the company’s stock.

Ambarella Price Performance

AMBA opened at $52.20 on Friday. The business has a 50 day simple moving average of $72.40 and a 200-day simple moving average of $65.37. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $85.15. The stock has a market capitalization of $2.18 billion, a P/E ratio of -13.52 and a beta of 1.78.

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.