KLP Kapitalforvaltning AS Acquires New Shares in Ambarella, Inc. (NASDAQ:AMBA)

KLP Kapitalforvaltning AS bought a new position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 8,000 shares of the semiconductor company's stock, valued at approximately $582,000.

Other institutional investors also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Ambarella by 68.7% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 184 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Ambarella in the fourth quarter valued at $53,000. R Squared Ltd purchased a new position in Ambarella during the 4th quarter valued at about $68,000. Pacer Advisors Inc. increased its position in Ambarella by 24.2% during the fourth quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company's stock worth $70,000 after buying an additional 188 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in Ambarella by 21.8% in the 4th quarter. Manchester Capital Management LLC now owns 1,175 shares of the semiconductor company's stock valued at $85,000 after purchasing an additional 210 shares in the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Ambarella Trading Down 7.4 %

AMBA stock traded down $3.35 during mid-day trading on Friday, hitting $41.94. 1,062,198 shares of the company were exchanged, compared to its average volume of 679,324. The firm has a fifty day simple moving average of $64.91 and a 200 day simple moving average of $65.21. The company has a market capitalization of $1.75 billion, a PE ratio of -10.87 and a beta of 1.78. Ambarella, Inc. has a twelve month low of $39.69 and a twelve month high of $85.15.

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Insider Transactions at Ambarella

In other news, CFO John Alexander Young sold 2,103 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $115,707.06. Following the transaction, the chief financial officer now directly owns 113,886 shares in the company, valued at approximately $6,266,007.72. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Chan W. Lee sold 1,000 shares of Ambarella stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the completion of the transaction, the chief operating officer now directly owns 116,918 shares of the company's stock, valued at $9,254,059.70. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,328 shares of company stock valued at $889,617. Insiders own 5.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMBA. Needham & Company LLC raised their price objective on Ambarella from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Bank of America upgraded Ambarella from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a report on Monday, December 16th. StockNews.com upgraded shares of Ambarella from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Stifel Nicolaus boosted their target price 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 price objective on shares of Ambarella from $95.00 to $100.00 and gave the company a "positive" rating in a research note on Wednesday, January 22nd. Five equities 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 presently 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.