Ambarella, Inc. (NASDAQ:AMBA) Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lowered its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 12.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,611 shares of the semiconductor company's stock after selling 15,136 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.26% of Ambarella worth $8,267,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMBA. McCollum Christoferson Group LLC purchased a new position in shares of Ambarella during the fourth quarter worth about $200,000. Vanguard Group Inc. grew its stake in shares of Ambarella by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 4,696,124 shares of the semiconductor company's stock valued at $341,596,000 after purchasing an additional 81,557 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Ambarella in the fourth quarter valued at approximately $582,000. Hillsdale Investment Management Inc. raised its stake in shares of Ambarella by 1.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 69,390 shares of the semiconductor company's stock worth $5,047,000 after purchasing an additional 900 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Ambarella by 17.6% during the fourth quarter. Sei Investments Co. now owns 10,959 shares of the semiconductor company's stock worth $797,000 after purchasing an additional 1,639 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, VP Christopher Day sold 479 shares of Ambarella stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total transaction of $26,354.58. Following the sale, the vice president now owns 15,441 shares in the company, valued at $849,563.82. This trade represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Chan W. Lee sold 1,000 shares of the company's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $73.48, for a total transaction of $73,480.00. Following the completion of the transaction, the chief operating officer now owns 114,918 shares of the company's stock, valued at $8,444,174.64. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,328 shares of company stock worth $889,617 over the last three months. 5.70% of the stock is owned by insiders.

Ambarella Stock Down 7.8 %

Shares of AMBA stock traded down $3.55 during trading hours on Friday, hitting $41.74. 518,671 shares of the company were exchanged, compared to its average volume of 837,053. The firm has a market cap of $1.74 billion, a PE ratio of -10.81 and a beta of 1.78. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $85.15. The firm has a fifty day moving average of $64.91 and a 200 day moving average of $65.21.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AMBA shares. Stifel Nicolaus upped their price objective on shares of Ambarella from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Needham & Company LLC boosted their target price on Ambarella from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 price objective on shares of Ambarella in a report on Thursday, February 27th. Bank of America raised Ambarella from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a report on Monday, December 16th. Finally, StockNews.com upgraded shares of Ambarella from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.