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

Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) saw a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 1,370,000 shares, a decline of 29.7% from the February 28th total of 1,950,000 shares. Currently, 3.5% of the shares of the company are short sold. Based on an average daily volume of 824,600 shares, the days-to-cover ratio is currently 1.7 days.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Ambarella in a research note on Thursday, February 27th. Bank of America raised shares of Ambarella from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a research note on Monday, December 16th. Susquehanna boosted their price target 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. StockNews.com raised shares of Ambarella from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Needham & Company LLC increased their price target on Ambarella from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $86.67.

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Insider Buying and Selling at Ambarella

In related news, COO Chan W. Lee sold 1,000 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $79.15, for a total value of $79,150.00. Following the sale, the chief operating officer now owns 116,918 shares in the company, valued at $9,254,059.70. This represents a 0.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Christopher Day sold 1,247 shares of the firm's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $78.10, for a total transaction of $97,390.70. Following the transaction, the vice president now owns 14,530 shares of the company's stock, valued at $1,134,793. This trade represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,575 shares of company stock worth $987,007. 5.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ambarella

A number of hedge funds and other institutional investors have recently bought and sold shares of AMBA. Tributary Capital Management LLC grew its position in shares of Ambarella by 15.4% during the 4th quarter. Tributary Capital Management LLC now owns 287,565 shares of the semiconductor company's stock worth $20,917,000 after purchasing an additional 38,380 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in Ambarella in the fourth quarter valued at approximately $553,000. FMR LLC raised its stake in Ambarella by 185.4% during the third quarter. FMR LLC now owns 17,102 shares of the semiconductor company's stock worth $965,000 after buying an additional 11,110 shares during the last quarter. Artemis Wealth Advisors LLC bought a new position in shares of Ambarella in the 4th quarter worth about $1,455,000. Finally, Larson Financial Group LLC grew its position 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 worth $48,000 after buying an additional 842 shares during the period. Institutional investors own 82.09% of the company's stock.

Ambarella Stock Performance

NASDAQ AMBA traded up $0.93 during trading hours on Wednesday, reaching $51.39. 424,651 shares of the company's stock were exchanged, compared to its average volume of 673,858. The company's 50-day moving average is $65.65 and its two-hundred day moving average is $65.34. Ambarella has a one year low of $39.69 and a one year high of $85.15. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -13.31 and a beta of 1.78.

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.