Pinnacle Wealth Management Advisory Group LLC Takes Position in Ambarella, Inc. (NASDAQ:AMBA)

Pinnacle Wealth Management Advisory Group LLC bought a new position in Ambarella, Inc. (NASDAQ:AMBA - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,525 shares of the semiconductor company's stock, valued at approximately $256,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. grew its position in Ambarella by 24.2% during the 4th quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company's stock valued at $70,000 after purchasing an additional 188 shares during the last quarter. Manchester Capital Management LLC grew its position in Ambarella by 21.8% during 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. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Ambarella by 5.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,003 shares of the semiconductor company's stock valued at $364,000 after purchasing an additional 236 shares during the last quarter. Versor Investments LP grew its position in Ambarella by 5.9% during the 3rd quarter. Versor Investments LP now owns 4,619 shares of the semiconductor company's stock valued at $261,000 after purchasing an additional 256 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Ambarella by 180.3% during 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 last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ambarella

In other Ambarella news, CEO Feng-Ming Wang sold 4,296 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $75.41, for a total transaction of $323,961.36. Following the sale, the chief executive officer now owns 755,231 shares in the company, valued at approximately $56,951,969.71. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hsiao-Wuen Hon sold 377 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $74.15, for a total transaction of $27,954.55. Following the sale, the director now owns 28,278 shares in the company, valued at approximately $2,096,813.70. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,861 shares of company stock worth $1,945,436 in the last quarter. Company insiders own 5.70% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Stifel Nicolaus increased their price objective on shares of Ambarella from $80.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Bank of America raised shares of Ambarella from an "underperform" rating to a "neutral" rating and set a $80.00 price target on the stock in a report on Monday, December 16th. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 price target on shares of Ambarella in a report on Friday, December 6th. Susquehanna raised their price target on shares of Ambarella from $95.00 to $100.00 and gave the company a "positive" rating in a report on Wednesday, January 22nd. Finally, Northland Securities reaffirmed an "outperform" rating and set a $95.00 price target (up previously from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $85.42.

Ambarella Price Performance

Shares of NASDAQ:AMBA traded down $3.10 during trading on Friday, hitting $78.17. The company's stock had a trading volume of 527,665 shares, compared to its average volume of 648,614. The company has a 50-day moving average of $76.26 and a 200-day moving average of $64.09. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $85.15. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of -20.25 and a beta of 1.66.

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.