Proficio Capital Partners LLC Buys Shares of 14,184 Ambarella, Inc. (NASDAQ:AMBA)

Proficio Capital Partners LLC acquired a new stake in Ambarella, Inc. (NASDAQ:AMBA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,184 shares of the semiconductor company's stock, valued at approximately $1,032,000.

Several other hedge funds also recently added to or reduced their stakes in AMBA. Larson Financial Group LLC lifted its position in shares of Ambarella by 6,014.3% during the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company's stock worth $48,000 after purchasing an additional 842 shares in the last quarter. R Squared Ltd acquired a new stake in Ambarella during the 4th quarter valued at approximately $68,000. Truvestments Capital LLC acquired a new position in shares of Ambarella in the 3rd quarter valued at approximately $69,000. Pacer Advisors Inc. boosted its stake in shares of 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 buying an additional 188 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its stake in shares of 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 buying an additional 210 shares during the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Chan W. Lee sold 1,488 shares of Ambarella stock in a transaction on Monday, December 16th. The stock was sold at an average price of $75.41, for a total value of $112,210.08. Following the transaction, the chief operating officer now directly owns 119,918 shares in the company, valued at $9,043,016.38. The trade was a 1.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Hsiao-Wuen Hon sold 377 shares of the business's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $74.15, for a total value of $27,954.55. Following the sale, the director now directly owns 28,278 shares in the company, valued at $2,096,813.70. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,465 shares of company stock worth $1,466,434. 5.70% of the stock is owned by company insiders.

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Analysts Set New Price Targets

AMBA has been the topic of several recent analyst reports. Northland Securities reaffirmed an "outperform" rating and issued a $95.00 price target (up from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Craig Hallum lifted their price target on Ambarella from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Stifel Nicolaus upped their price objective on Ambarella from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. StockNews.com upgraded Ambarella from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Bank of America raised Ambarella from an "underperform" rating to a "neutral" rating and set a $80.00 price target on the stock in a research report on Monday, December 16th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $86.67.

Ambarella Price Performance

Shares of Ambarella stock traded up $0.68 on Tuesday, hitting $49.62. The company had a trading volume of 1,494,273 shares, compared to its average volume of 651,214. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $85.15. The company has a market cap of $2.07 billion, a PE ratio of -12.85 and a beta of 1.78. The business has a 50-day simple moving average of $73.71 and a 200-day simple moving average of $65.56.

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.