Ambarella, Inc. (NASDAQ:AMBA) Stake Lessened by US Bancorp DE

US Bancorp DE cut its stake in Ambarella, Inc. (NASDAQ:AMBA) by 29.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,822 shares of the semiconductor company’s stock after selling 2,026 shares during the period. US Bancorp DE’s holdings in Ambarella were worth $351,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Ambarella by 2.6% in the third quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock valued at $108,536,000 after acquiring an additional 47,856 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Ambarella by 4.8% in 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 acquiring an additional 61,387 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Ambarella by 1.6% during the third quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock worth $51,719,000 after buying an additional 14,568 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Ambarella by 70.0% during the third quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock worth $48,626,000 after buying an additional 355,078 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Ambarella by 7.0% during the third 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 buying an additional 43,874 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMBA. Northland Securities restated an “outperform” rating and set a $95.00 target price (up from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Morgan Stanley raised their target price on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of Ambarella in a report on Thursday, February 27th. Craig Hallum raised their target price on shares of Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Needham & Company LLC upped their price target on shares of Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.67.

Ambarella Stock Up 0.4 %

Shares of NASDAQ:AMBA opened at $52.20 on Friday. The firm has a fifty day moving average of $72.40 and a two-hundred day moving average of $65.37. Ambarella, Inc. has a 12-month low of $39.69 and a 12-month high of $85.15. The firm has a market capitalization of $2.18 billion, a P/E ratio of -13.52 and a beta of 1.78.

Insider Activity at Ambarella

In related news, COO Chan W. Lee sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $75.90, for a total value of $75,900.00. Following the transaction, the chief operating officer now owns 110,918 shares in the company, valued at approximately $8,418,676.20. This represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Feng-Ming Wang sold 4,296 shares of Ambarella 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 $323,961.36. Following the completion of the sale, the chief executive officer now owns 755,231 shares of the company’s stock, valued at $56,951,969.71. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,088 shares of company stock valued at $1,438,480. Insiders own 5.70% of the company’s stock.

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.