Mitsubishi UFJ Asset Management Co. Ltd. Decreases Stock Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Mitsubishi UFJ Asset Management Co. Ltd. reduced its stake in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 12.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 approximately 0.26% of Ambarella worth $8,267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMBA. Skandinaviska Enskilda Banken AB publ raised its position in Ambarella by 68.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 184 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Ambarella during the fourth quarter worth approximately $53,000. R Squared Ltd acquired a new stake in Ambarella in the fourth quarter valued at approximately $68,000. Pacer Advisors Inc. grew its holdings in Ambarella by 24.2% during the 4th quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company's stock worth $70,000 after acquiring an additional 188 shares in the last quarter. Finally, Manchester Capital Management LLC increased its position in shares of Ambarella by 21.8% in the 4th quarter. Manchester Capital Management LLC now owns 1,175 shares of the semiconductor company's stock valued at $85,000 after purchasing an additional 210 shares during the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMBA has been the subject of several recent analyst reports. Bank of America raised shares of Ambarella from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a research report on Monday, December 16th. StockNews.com upgraded shares of Ambarella from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Stifel Nicolaus lifted their target price on Ambarella from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Rosenblatt Securities reissued a "buy" rating and issued a $100.00 target price on shares of Ambarella in a research report on Thursday, February 27th. Finally, Needham & Company LLC lifted their price target on Ambarella from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $86.67.

Ambarella Stock Down 7.4 %

Shares of NASDAQ AMBA traded down $3.35 during mid-day trading on Friday, hitting $41.94. 1,062,198 shares of the company were exchanged, compared to its average volume of 680,647. The stock has a 50 day simple moving average of $64.15 and a 200-day simple moving average of $65.20. Ambarella, Inc. has a 1-year low of $39.69 and a 1-year high of $85.15. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -10.87 and a beta of 1.78.

Insiders Place Their Bets

In related news, CEO Feng-Ming Wang sold 3,194 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total transaction of $175,733.88. Following the completion of the transaction, the chief executive officer now directly owns 798,311 shares of the company's stock, valued at $43,923,071.22. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Chan W. Lee sold 1,000 shares of the firm'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 completion of the sale, the chief operating officer now owns 116,918 shares of the company's stock, valued at approximately $9,254,059.70. The trade was a 0.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,328 shares of company stock worth $889,617. 5.70% of the stock is owned by insiders.

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.