Summit Global Investments Invests $642,000 in Ambarella, Inc. (NASDAQ:AMBA)

Summit Global Investments bought a new stake in Ambarella, Inc. (NASDAQ:AMBA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,832 shares of the semiconductor company's stock, valued at approximately $642,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in shares of Ambarella during the 3rd quarter worth about $722,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Ambarella by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 320,319 shares of the semiconductor company's stock worth $18,068,000 after purchasing an additional 3,700 shares during the last quarter. Algert Global LLC lifted its holdings in shares of Ambarella by 76.2% in the 3rd quarter. Algert Global LLC now owns 94,999 shares of the semiconductor company's stock valued at $5,358,000 after purchasing an additional 41,094 shares during the last quarter. Larson Financial Group LLC boosted 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 period. Finally, Alpha DNA Investment Management LLC increased its position in Ambarella by 16.1% during the third quarter. Alpha DNA Investment Management LLC now owns 8,480 shares of the semiconductor company's stock worth $478,000 after buying an additional 1,175 shares during the period. Institutional investors and hedge funds own 82.09% of the company's stock.

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Insider Transactions at Ambarella

In related news, CEO Feng-Ming Wang sold 3,194 shares of Ambarella stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $175,733.88. Following the completion of the sale, the chief executive officer now owns 798,311 shares in the company, valued at approximately $43,923,071.22. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John Alexander Young sold 2,103 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total transaction of $115,707.06. Following the completion of the transaction, the chief financial officer now directly owns 113,886 shares of the company's stock, valued at $6,266,007.72. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,575 shares of company stock valued at $987,007 in the last ninety days. Corporate insiders own 5.70% of the company's stock.

Analysts Set New Price Targets

AMBA has been the subject of a number of research reports. Susquehanna upped their target price on shares of Ambarella from $95.00 to $100.00 and gave the company a "positive" rating in a report on Wednesday, January 22nd. Stifel Nicolaus increased their price objective on Ambarella from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 price target on shares of Ambarella in a report on Thursday, February 27th. Northland Securities reissued an "outperform" rating and issued a $95.00 price objective (up from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Finally, StockNews.com upgraded shares of Ambarella from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $86.67.

Ambarella Price Performance

AMBA traded down $1.25 during trading on Thursday, reaching $52.69. 526,363 shares of the stock were exchanged, compared to its average volume of 655,861. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $85.15. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -13.65 and a beta of 1.78. The business's 50 day moving average price is $68.62 and its two-hundred day moving average price is $65.38.

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.