Bank of New York Mellon Corp Has $10.98 Million Stock Position in Ambarella, Inc. (NASDAQ:AMBA)

Bank of New York Mellon Corp lessened its position in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 150,897 shares of the semiconductor company's stock after selling 6,416 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.36% of Ambarella worth $10,976,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. 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 valued at $70,000 after buying an additional 188 shares during the period. Manchester Capital Management LLC raised its holdings in shares of Ambarella by 21.8% during the fourth quarter. Manchester Capital Management LLC now owns 1,175 shares of the semiconductor company's stock worth $85,000 after acquiring an additional 210 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Ambarella by 5.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,003 shares of the semiconductor company's stock valued at $364,000 after purchasing an additional 236 shares during the last quarter. Versor Investments LP boosted its position in Ambarella by 5.9% during the third quarter. Versor Investments LP now owns 4,619 shares of the semiconductor company's stock valued at $261,000 after purchasing an additional 256 shares during the last quarter. Finally, Trust Point Inc. grew its stake in Ambarella by 4.9% in the fourth quarter. Trust Point Inc. now owns 10,560 shares of the semiconductor company's stock valued at $768,000 after purchasing an additional 497 shares in the last quarter. Hedge funds and other institutional investors own 82.09% of the company's stock.

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Ambarella Trading Up 4.9 %

Shares of AMBA traded up $2.58 during mid-day trading on Friday, reaching $54.78. The company's stock had a trading volume of 852,696 shares, compared to its average volume of 655,616. Ambarella, Inc. has a 1-year low of $39.69 and a 1-year high of $85.15. The business has a 50-day simple moving average of $72.40 and a two-hundred day simple moving average of $65.37. The stock has a market cap of $2.28 billion, a P/E ratio of -14.19 and a beta of 1.78.

Insider Activity

In related news, CEO Feng-Ming Wang sold 4,296 shares of Ambarella stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $75.41, for a total transaction of $323,961.36. Following the completion of the sale, the chief executive officer now directly owns 755,231 shares of the company's stock, valued at approximately $56,951,969.71. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Christopher Day sold 482 shares of Ambarella stock in a transaction on Monday, December 16th. The stock was sold at an average price of $75.41, for a total value of $36,347.62. Following the sale, the vice president now directly owns 16,706 shares of the company's stock, valued at $1,259,799.46. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,088 shares of company stock valued at $1,438,480 over the last ninety days. 5.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMBA. Northland Securities reiterated an "outperform" rating and set a $95.00 price target (up from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Craig Hallum increased their target price on shares of Ambarella from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Morgan Stanley boosted their target price on Ambarella from $73.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, November 27th. Stifel Nicolaus upped their price target on shares of Ambarella from $95.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, Susquehanna boosted their target price on shares of Ambarella from $95.00 to $100.00 and gave the stock a "positive" rating in a research report on Wednesday, January 22nd. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $86.67.

Ambarella Company Profile

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.