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

Proficio Capital Partners LLC purchased a new position in Ambarella, Inc. (NASDAQ:AMBA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,184 shares of the semiconductor company's stock, valued at approximately $1,032,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Point72 Asset Management L.P. grew 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 worth $48,626,000 after purchasing an additional 355,078 shares during the period. Barclays PLC grew its stake in shares of Ambarella by 281.3% during the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company's stock valued at $21,891,000 after purchasing an additional 286,296 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Ambarella in the 3rd quarter worth $3,905,000. The Manufacturers Life Insurance Company raised its stake in Ambarella by 4.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company's stock worth $76,332,000 after acquiring an additional 61,387 shares during the period. Finally, State Street Corp lifted its position 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. 82.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMBA has been the topic of a number of research reports. Bank of America upgraded shares of Ambarella from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a report on Monday, December 16th. Northland Securities reissued an "outperform" rating and issued a $95.00 price objective (up previously from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Needham & Company LLC upped their price target on Ambarella from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Stifel Nicolaus lifted their price objective on Ambarella from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $100.00 price objective on shares of Ambarella in a report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $86.67.

Remove Ads

Ambarella Trading Up 0.3 %

AMBA stock traded up $0.14 during mid-day trading on Tuesday, hitting $55.75. The stock had a trading volume of 407,955 shares, compared to its average volume of 656,458. Ambarella, Inc. has a 1-year low of $39.69 and a 1-year high of $85.15. The company has a fifty day moving average of $69.43 and a 200 day moving average of $65.44. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -14.44 and a beta of 1.78.

Insider Activity

In other Ambarella news, Director Christopher B. Paisley sold 1,500 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $73.80, for a total value of $110,700.00. Following the sale, the director now directly owns 40,781 shares in the company, valued at approximately $3,009,637.80. This trade represents a 3.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Feng-Ming Wang sold 3,194 shares of Ambarella stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $175,733.88. Following the transaction, the chief executive officer now owns 798,311 shares in the company, valued at $43,923,071.22. This trade represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,575 shares of company stock worth $1,069,957. 5.70% of the stock is owned by corporate 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.