Lord Abbett & CO. LLC Makes New Investment in Ambarella, Inc. (NASDAQ:AMBA)

Lord Abbett & CO. LLC acquired a new position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 69,224 shares of the semiconductor company's stock, valued at approximately $3,905,000. Lord Abbett & CO. LLC owned approximately 0.17% of Ambarella as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of AMBA. Azzad Asset Management Inc. ADV increased its position in Ambarella by 2.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company's stock worth $539,000 after purchasing an additional 231 shares during the period. Versor Investments LP lifted its holdings in Ambarella by 5.9% in the third quarter. Versor Investments LP now owns 4,619 shares of the semiconductor company's stock valued at $261,000 after buying an additional 256 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Ambarella by 6.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,767 shares of the semiconductor company's stock worth $269,000 after acquiring an additional 285 shares during the period. CWM LLC raised its position in shares of Ambarella by 127.7% during the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 304 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 321 shares during the period. 82.09% of the stock is currently owned by institutional investors.

Insider Activity at Ambarella

In other Ambarella news, Director Elizabeth M. Schwarting sold 913 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $54.74, for a total value of $49,977.62. Following the completion of the sale, the director now owns 8,155 shares in the company, valued at $446,404.70. This trade represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Christopher Day sold 2,904 shares of the company's stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total transaction of $168,432.00. Following the completion of the sale, the vice president now directly owns 18,466 shares in the company, valued at approximately $1,071,028. The trade was a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,590 shares of company stock valued at $725,366. Insiders own 5.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMBA. Rosenblatt Securities reiterated a "buy" rating and issued a $100.00 price objective on shares of Ambarella in a report on Friday, December 6th. TD Cowen increased their price target on shares of Ambarella from $65.00 to $75.00 and gave the company a "hold" rating in a research report on Wednesday, August 28th. Morgan Stanley boosted their price objective on shares of Ambarella from $73.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, November 27th. Northland Securities reaffirmed an "outperform" rating and issued a $95.00 target price (up previously from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Finally, Stifel Nicolaus lifted their price target 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $84.17.

Ambarella Trading Down 3.1 %

Shares of Ambarella stock traded down $2.39 during trading hours on Tuesday, reaching $73.83. 487,262 shares of the company's stock were exchanged, compared to its average volume of 607,439. The stock has a market cap of $3.08 billion, a P/E ratio of -18.89 and a beta of 1.68. The company has a 50 day moving average of $62.94 and a two-hundred day moving average of $57.20. Ambarella, Inc. has a fifty-two week low of $39.69 and a fifty-two week high of $81.32.

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.