Los Angeles Capital Management LLC Invests $558,000 in Ambarella, Inc. (NASDAQ:AMBA)

Los Angeles Capital Management LLC bought a new position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 7,678 shares of the semiconductor company's stock, valued at approximately $558,000.

A number of other institutional investors have also modified their holdings of AMBA. Point72 Asset Management L.P. increased its holdings in Ambarella by 70.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company's stock valued at $48,626,000 after purchasing an additional 355,078 shares in the last quarter. Barclays PLC grew its stake in shares of Ambarella by 281.3% in the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company's stock valued at $21,891,000 after buying an additional 286,296 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Ambarella during the 3rd quarter valued at about $3,905,000. The Manufacturers Life Insurance Company raised its holdings in shares of Ambarella by 4.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company's stock valued at $76,332,000 after buying an additional 61,387 shares during the period. Finally, State Street Corp lifted its position in Ambarella by 2.6% during the 3rd quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company's stock worth $108,536,000 after acquiring an additional 47,856 shares in the last quarter. Hedge funds and other institutional investors own 82.09% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on AMBA. Craig Hallum increased their price objective on shares of Ambarella from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 price target on shares of Ambarella in a research note on Thursday, February 27th. StockNews.com upgraded shares of Ambarella from a "sell" rating to a "hold" rating in a report on Friday. Bank of America upgraded Ambarella from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a research note on Monday, December 16th. Finally, Morgan Stanley lifted their target price on Ambarella from $73.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $86.67.

Insiders Place Their Bets

In other news, VP Chi-Hong Ju sold 5,118 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $75.71, for a total value of $387,483.78. Following the transaction, the vice president now directly owns 158,686 shares in the company, valued at approximately $12,014,117.06. This trade represents a 3.12 % 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 the business's 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 sale, the chief operating officer now directly owns 116,918 shares of the company's stock, valued at approximately $9,254,059.70. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,583 shares of company stock valued at $1,853,918 over the last 90 days. 5.70% of the stock is owned by company insiders.

Ambarella Trading Down 7.5 %

Shares of AMBA opened at $56.81 on Tuesday. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -14.72 and a beta of 1.66. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $85.15. The stock has a 50 day moving average of $75.74 and a 200-day moving average of $65.39.

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.

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