Ambarella, Inc. (NASDAQ:AMBA) Short Interest Update

Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,430,000 shares, a growth of 5.9% from the October 31st total of 1,350,000 shares. Based on an average daily trading volume, of 562,300 shares, the short-interest ratio is presently 2.5 days.

Insider Transactions at Ambarella

In related news, VP Christopher Day sold 1,278 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $71.61, for a total value of $91,517.58. Following the sale, the vice president now owns 17,188 shares in the company, valued at $1,230,832.68. This represents a 6.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Feng-Ming Wang sold 4,382 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $56.02, for a total value of $245,479.64. Following the transaction, the chief executive officer now directly owns 803,574 shares of the company's stock, valued at approximately $45,016,215.48. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,738 shares of company stock valued at $1,104,690 in the last quarter. Insiders own 5.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in Ambarella by 2.6% in the 3rd quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company's stock worth $108,536,000 after purchasing an additional 47,856 shares during the period. Millennium Management LLC raised its holdings in shares of Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company's stock worth $78,091,000 after buying an additional 94,257 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Ambarella by 4.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company's stock worth $76,332,000 after buying an additional 61,387 shares during the period. Geode Capital Management LLC lifted its stake in shares of Ambarella by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company's stock worth $51,719,000 after acquiring an additional 14,568 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in Ambarella by 70.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company's stock valued at $48,626,000 after acquiring an additional 355,078 shares during the period. Institutional investors own 82.09% of the company's stock.

Ambarella Stock Up 2.4 %

AMBA traded up $1.67 during midday trading on Tuesday, reaching $71.84. The company had a trading volume of 1,560,648 shares, compared to its average volume of 776,673. The business has a 50-day moving average of $59.95 and a two-hundred day moving average of $55.75. Ambarella has a 1 year low of $39.69 and a 1 year high of $81.32. The company has a market cap of $2.96 billion, a P/E ratio of -18.61 and a beta of 1.68.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Northland Securities restated 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 price target on shares of Ambarella from $85.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Susquehanna boosted their price objective on shares of Ambarella from $70.00 to $85.00 and gave the stock a "positive" rating in a report on Wednesday, November 27th. Rosenblatt Securities reissued a "buy" rating and issued a $85.00 target price on shares of Ambarella in a report on Friday, August 23rd. Finally, TD Cowen boosted their price target on Ambarella from $65.00 to $75.00 and gave the stock a "hold" rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $81.67.

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.