Geode Capital Management LLC Buys 14,568 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Geode Capital Management LLC boosted its stake in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 916,757 shares of the semiconductor company's stock after buying an additional 14,568 shares during the quarter. Geode Capital Management LLC owned approximately 2.22% of Ambarella worth $51,719,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AMBA. Dynamic Technology Lab Private Ltd grew its stake in shares of Ambarella by 592.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company's stock valued at $1,460,000 after buying an additional 22,144 shares in the last quarter. Mirabella Financial Services LLP acquired a new stake in Ambarella in the third quarter valued at approximately $1,530,000. FMR LLC grew its position in Ambarella by 185.4% in the third quarter. FMR LLC now owns 17,102 shares of the semiconductor company's stock worth $965,000 after acquiring an additional 11,110 shares in the last quarter. Millennium Management LLC increased its stake in shares of Ambarella by 7.0% during the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company's stock worth $78,091,000 after purchasing an additional 94,257 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Ambarella by 6,014.3% during 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 in the last quarter. Institutional investors and hedge funds own 82.09% of the company's stock.

Wall Street Analyst Weigh In

AMBA has been the subject of a number of recent research reports. Bank of America upgraded shares of Ambarella from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a report on Monday, December 16th. Roth Mkm reiterated a "neutral" rating and set a $60.00 price target on shares of Ambarella in a research note on Wednesday, August 28th. Rosenblatt Securities reissued a "buy" rating and issued a $100.00 price objective on shares of Ambarella in a research note on Friday, December 6th. Craig Hallum upped 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, Needham & Company LLC lifted their price target on shares of Ambarella from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $84.17.

Ambarella Stock Up 3.2 %

NASDAQ AMBA traded up $2.26 during midday trading on Monday, hitting $73.19. The company had a trading volume of 440,807 shares, compared to its average volume of 609,213. The firm has a fifty day simple moving average of $64.18 and a two-hundred day simple moving average of $57.69. Ambarella, Inc. has a fifty-two week low of $39.69 and a fifty-two week high of $81.32. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -18.96 and a beta of 1.68.

Insider Activity at Ambarella

In related news, VP Christopher Day sold 929 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $75.40, for a total value of $70,046.60. Following the completion of the transaction, the vice president now directly owns 15,777 shares of the company's stock, valued at $1,189,585.80. This trade represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hsiao-Wuen Hon sold 377 shares of the business's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.15, for a total transaction of $27,954.55. Following the completion of the sale, the director now directly owns 28,278 shares in the company, valued at $2,096,813.70. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,931 shares of company stock worth $1,579,604. Company insiders own 5.70% of the company's stock.

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.