Connor Clark & Lunn Investment Management Ltd. raised its holdings in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 34.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 305,395 shares of the semiconductor company's stock after buying an additional 78,893 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.73% of Ambarella worth $22,214,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in AMBA. Tributary Capital Management LLC boosted its stake in Ambarella by 15.4% in the 4th quarter. Tributary Capital Management LLC now owns 287,565 shares of the semiconductor company's stock valued at $20,917,000 after buying an additional 38,380 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Ambarella by 592.2% during the third quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company's stock valued at $1,460,000 after acquiring an additional 22,144 shares during the period. Asset Management One Co. Ltd. acquired a new stake in shares of Ambarella in the 4th quarter valued at $553,000. Mirabella Financial Services LLP bought a new stake in shares of Ambarella in the 3rd quarter worth about $1,530,000. Finally, FMR LLC increased its position in shares of Ambarella by 185.4% during the 3rd quarter. FMR LLC now owns 17,102 shares of the semiconductor company's stock worth $965,000 after purchasing an additional 11,110 shares in the last quarter. Institutional investors and hedge funds own 82.09% of the company's stock.
Wall Street Analysts Forecast Growth
AMBA has been the topic of a number of recent analyst reports. Needham & Company LLC boosted their price target on shares of Ambarella from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Morgan Stanley increased their price target on Ambarella from $73.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. Rosenblatt Securities reiterated a "buy" rating and issued a $100.00 price objective on shares of Ambarella in a research report on Thursday, February 27th. Northland Securities reissued an "outperform" rating and issued a $95.00 price objective (up previously from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Finally, StockNews.com upgraded Ambarella from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $86.67.
Check Out Our Latest Research Report on AMBA
Insider Buying and Selling at Ambarella
In other Ambarella news, COO Chan W. Lee sold 1,000 shares of Ambarella stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $79.15, for a total value of $79,150.00. Following the transaction, the chief operating officer now owns 116,918 shares of the company's stock, valued at approximately $9,254,059.70. The trade was a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Christopher Day sold 1,247 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $78.10, for a total transaction of $97,390.70. Following the sale, the vice president now directly owns 14,530 shares of the company's stock, valued at $1,134,793. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,088 shares of company stock valued at $1,438,480. Company insiders own 5.70% of the company's stock.
Ambarella Price Performance
Shares of NASDAQ AMBA traded up $2.58 during midday trading on Friday, reaching $54.78. 852,696 shares of the stock were exchanged, compared to its average volume of 655,616. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $85.15. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -14.19 and a beta of 1.78. The business has a 50-day simple moving average of $72.40 and a two-hundred day simple moving average of $65.37.
Ambarella Profile
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Free Report)
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.
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