Ambarella, Inc. (NASDAQ:AMBA) Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its holdings in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 15.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 452,693 shares of the semiconductor company's stock after selling 84,046 shares during the period. Legal & General Group Plc owned 1.09% of Ambarella worth $32,929,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in shares of Ambarella by 736.7% during the 4th quarter. Invesco Ltd. now owns 335,730 shares of the semiconductor company's stock valued at $24,421,000 after purchasing an additional 295,606 shares during the last quarter. Polymer Capital Management US LLC purchased a new stake in shares of Ambarella in the fourth quarter valued at $244,000. Cerity Partners LLC lifted its holdings in shares of Ambarella by 8.8% in the 4th quarter. Cerity Partners LLC now owns 5,098 shares of the semiconductor company's stock worth $367,000 after acquiring an additional 413 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Ambarella during the 4th quarter valued at about $37,000. Finally, Envestnet Asset Management Inc. raised its position in Ambarella by 1.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 52,319 shares of the semiconductor company's stock worth $3,806,000 after purchasing an additional 923 shares during the period. Hedge funds and other institutional investors own 82.09% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com raised Ambarella from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Rosenblatt Securities reiterated a "buy" rating and set a $100.00 target price on shares of Ambarella in a research report on Thursday, February 27th. Needham & Company LLC raised their price target on shares of Ambarella from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. 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 report on Wednesday, January 22nd. Finally, Stifel Nicolaus reduced their target price on shares of Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $85.00.

Ambarella Trading Down 1.1 %

Shares of NASDAQ:AMBA traded down $0.49 during trading on Friday, reaching $43.11. The stock had a trading volume of 446,325 shares, compared to its average volume of 688,376. The firm's 50-day simple moving average is $57.01 and its 200 day simple moving average is $64.21. Ambarella, Inc. has a one year low of $38.86 and a one year high of $85.15. The company has a market capitalization of $1.83 billion, a P/E ratio of -11.17 and a beta of 1.86.

Insider Activity at Ambarella

In related news, Director Christopher B. Paisley sold 500 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $55.50, for a total value of $27,750.00. Following the completion of the transaction, the director now directly owns 40,281 shares of the company's stock, valued at $2,235,595.50. This trade represents a 1.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher Day sold 479 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $26,354.58. Following the sale, the vice president now directly owns 15,441 shares in the company, valued at approximately $849,563.82. This represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,328 shares of company stock valued at $513,467 over the last 90 days. 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.