Ambarella, Inc. (NASDAQ:AMBA) Sees Significant Growth in Short Interest

Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 1,630,000 shares, an increase of 19.0% from the March 15th total of 1,370,000 shares. Based on an average daily volume of 866,700 shares, the short-interest ratio is currently 1.9 days. Approximately 4.1% of the company's stock are short sold.

Ambarella Stock Performance

NASDAQ AMBA traded up $2.07 during mid-day trading on Wednesday, reaching $43.02. 906,187 shares of the stock were exchanged, compared to its average volume of 697,297. The company has a market capitalization of $1.83 billion, a P/E ratio of -11.15 and a beta of 1.86. The business's 50 day moving average is $54.35 and its 200-day moving average is $63.83. Ambarella has a 1 year low of $38.86 and a 1 year high of $85.15.

Analyst Ratings Changes

Several equities research analysts have weighed in on AMBA shares. Susquehanna raised their target price on shares of Ambarella from $95.00 to $100.00 and gave the company a "positive" rating in a research note on Wednesday, January 22nd. Stifel Nicolaus reduced their target price on Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC raised their price target on Ambarella from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Rosenblatt Securities restated a "buy" rating and set a $100.00 price objective on shares of Ambarella in a report on Thursday, February 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 investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Ambarella presently has a consensus rating of "Moderate Buy" and an average target price of $85.00.

Insider Activity

In other news, VP Christopher Day sold 479 shares of the business's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $26,354.58. Following the completion of the transaction, the vice president now directly owns 15,441 shares of the company's stock, valued at approximately $849,563.82. The trade was a 3.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Leslie Kohn sold 1,584 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $87,151.68. Following the sale, the chief technology officer now directly owns 981,392 shares in the company, valued at approximately $53,996,187.84. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,328 shares of company stock worth $513,467. Corporate insiders own 5.70% of the company's stock.

Institutional Investors Weigh In On Ambarella

A number of institutional investors have recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ increased its position in shares of Ambarella by 68.7% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company's stock valued at $32,000 after buying an additional 184 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Ambarella in the fourth quarter valued at about $37,000. Sterling Capital Management LLC increased its stake in shares of Ambarella by 629.3% during the fourth quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company's stock worth $43,000 after purchasing an additional 516 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Ambarella during the 4th quarter worth about $53,000. Finally, Johnson Financial Group Inc. purchased a new position in Ambarella in the 4th quarter valued at about $71,000. 82.09% of the stock is currently owned by institutional investors and hedge funds.

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.