Assenagon Asset Management S.A. Lowers Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Assenagon Asset Management S.A. decreased its position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 35.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 258,122 shares of the semiconductor company's stock after selling 144,385 shares during the period. Assenagon Asset Management S.A. owned about 0.62% of Ambarella worth $18,776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp increased its holdings in Ambarella by 2.6% during 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 Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company's stock valued at $78,091,000 after acquiring an additional 94,257 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in 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 acquiring an additional 61,387 shares during the last quarter. Geode Capital Management LLC grew its holdings in 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 in the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of Ambarella by 70.0% in 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 purchasing an additional 355,078 shares during the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Ambarella Price Performance

Ambarella stock traded up $2.61 during mid-day trading on Friday, reaching $80.79. The company had a trading volume of 573,297 shares, compared to its average volume of 556,279. The stock's 50-day simple moving average is $70.58 and its 200-day simple moving average is $60.29. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $81.32. The company has a market capitalization of $3.37 billion, a P/E ratio of -20.93 and a beta of 1.66.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AMBA shares. Stifel Nicolaus lifted their price objective on shares of Ambarella from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Needham & Company LLC increased their price objective on Ambarella from $90.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Rosenblatt Securities reissued a "buy" rating and set a $100.00 target price on shares of Ambarella in a research report on Friday, December 6th. Susquehanna upped their price target on Ambarella from $70.00 to $85.00 and gave the company a "positive" rating in a report on Wednesday, November 27th. Finally, Morgan Stanley raised their price objective on shares of Ambarella from $73.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, Ambarella presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.17.

Insider Buying and Selling at Ambarella

In related news, CEO Feng-Ming Wang sold 4,296 shares of Ambarella stock in a transaction dated 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 owns 755,231 shares in the company, 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 can be accessed through this hyperlink. Also, COO Chan W. Lee sold 1,000 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $75.90, for a total transaction of $75,900.00. Following the completion of the transaction, the chief operating officer now directly owns 110,918 shares of the company's stock, valued at $8,418,676.20. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,861 shares of company stock valued at $1,945,436. Insiders own 5.70% of the company's stock.

Ambarella 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.