KLP Kapitalforvaltning AS Takes Position in Ambarella, Inc. (NASDAQ:AMBA)

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

Several other institutional investors and hedge funds have also made changes to their positions in AMBA. Charles Schwab Investment Management Inc. boosted its position in Ambarella by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 320,319 shares of the semiconductor company's stock valued at $18,068,000 after buying an additional 3,700 shares during the last quarter. FMR LLC lifted its stake in shares of Ambarella by 185.4% in the third quarter. FMR LLC now owns 17,102 shares of the semiconductor company's stock worth $965,000 after acquiring an additional 11,110 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Ambarella by 23.2% in the third quarter. BNP Paribas Financial Markets now owns 41,310 shares of the semiconductor company's stock valued at $2,330,000 after purchasing an additional 7,783 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ambarella by 26.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,545 shares of the semiconductor company's stock worth $426,000 after purchasing an additional 1,591 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Ambarella by 7.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 666,286 shares of the semiconductor company's stock worth $37,582,000 after purchasing an additional 43,874 shares during the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ambarella

In other news, Director Christopher B. Paisley sold 500 shares of Ambarella stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $55.50, for a total transaction of $27,750.00. Following the sale, the director now owns 40,281 shares of the company's stock, valued at approximately $2,235,595.50. The trade was a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John Alexander Young sold 2,103 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $115,707.06. Following the completion of the transaction, the chief financial officer now directly owns 113,886 shares of the company's stock, valued at $6,266,007.72. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,328 shares of company stock worth $810,467. 5.70% of the stock is owned by insiders.

Ambarella Price Performance

NASDAQ:AMBA traded down $0.27 during midday trading on Monday, reaching $41.67. 1,350,402 shares of the company traded hands, compared to its average volume of 683,320. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -10.80 and a beta of 1.86. The company has a fifty day moving average price of $63.51 and a 200 day moving average price of $65.18. Ambarella, Inc. has a twelve month low of $38.87 and a twelve month high of $85.15.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMBA. Bank of America raised shares of Ambarella from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a research report on Monday, December 16th. Rosenblatt Securities reissued a "buy" rating and set a $100.00 price objective on shares of Ambarella in a report on Thursday, February 27th. Needham & Company LLC upped their target price on shares of Ambarella from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Stifel Nicolaus lifted their price target on Ambarella from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Finally, Susquehanna upped their price objective on Ambarella from $95.00 to $100.00 and gave the company a "positive" rating in a research note on Wednesday, January 22nd. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $86.67.

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.