Principal Financial Group Inc. Takes $1.16 Million Position in Ambarella, Inc. (NASDAQ:AMBA)

Principal Financial Group Inc. acquired a new stake in Ambarella, Inc. (NASDAQ:AMBA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,937 shares of the semiconductor company’s stock, valued at approximately $1,159,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC lifted its position in Ambarella by 6,014.3% in the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after buying an additional 842 shares during the last quarter. R Squared Ltd bought a new stake in shares of Ambarella in the 4th quarter worth about $68,000. Pacer Advisors Inc. boosted its stake in shares of Ambarella by 24.2% during the 4th quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company’s stock worth $70,000 after purchasing an additional 188 shares during the period. Manchester Capital Management LLC grew 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 valued at $85,000 after purchasing an additional 210 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in Ambarella during the 3rd quarter valued at about $69,000. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMBA shares. Needham & Company LLC boosted their target price on Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Stifel Nicolaus raised their price target on Ambarella from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. StockNews.com raised Ambarella from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Craig Hallum lifted their target price on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Northland Securities reissued an “outperform” rating and set a $95.00 target price (up from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $86.67.

Ambarella Stock Performance

NASDAQ:AMBA opened at $56.15 on Thursday. The firm has a 50-day simple moving average of $75.01 and a 200-day simple moving average of $65.38. Ambarella, Inc. has a one year low of $39.69 and a one year high of $85.15. The firm has a market cap of $2.34 billion, a P/E ratio of -14.55 and a beta of 1.66.

Insider Activity at Ambarella

In other 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Feng-Ming Wang sold 4,296 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 $323,961.36. Following the transaction, the chief executive officer now owns 755,231 shares in the company, valued at $56,951,969.71. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,583 shares of company stock valued at $1,853,918 over the last ninety days. 5.70% of the stock is owned by company insiders.

About Ambarella

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.