State Street Corp Acquires 47,856 Shares of Ambarella, Inc. (NASDAQ:AMBA)

State Street Corp lifted its holdings in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,924,235 shares of the semiconductor company's stock after purchasing an additional 47,856 shares during the period. State Street Corp owned about 4.66% of Ambarella worth $108,536,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC increased its stake in Ambarella by 7.0% in the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company's stock worth $78,091,000 after purchasing an additional 94,257 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Ambarella by 4.8% in 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 acquiring an additional 61,387 shares in the last quarter. Point72 Asset Management L.P. boosted its stake 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 worth $48,626,000 after purchasing an additional 355,078 shares during the period. Dimensional Fund Advisors LP grew its position in Ambarella by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 683,119 shares of the semiconductor company's stock worth $36,854,000 after purchasing an additional 2,994 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Ambarella by 7.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 666,286 shares of the semiconductor company's stock valued at $37,582,000 after purchasing an additional 43,874 shares during the period. 82.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Christopher Day sold 483 shares of the business's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $25,859.82. Following the completion of the transaction, the vice president now owns 21,370 shares of the company's stock, valued at $1,144,149.80. The trade was a 2.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Chi-Hong Ju sold 5,118 shares of the firm's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $75.71, for a total value of $387,483.78. Following the completion of the sale, the vice president now directly owns 158,686 shares in the company, valued at approximately $12,014,117.06. This represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,611 shares of company stock valued at $1,261,890 over the last 90 days. 5.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AMBA has been the subject of several research analyst reports. Roth Mkm reissued a "neutral" rating and issued a $60.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. StockNews.com lowered shares of Ambarella from a "hold" rating to a "sell" rating in a research note on Tuesday, December 10th. Bank of America upgraded 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. Morgan Stanley increased their price objective on Ambarella from $73.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, November 27th. Finally, Needham & Company LLC boosted their target price on shares of Ambarella from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. One research 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $84.17.

Ambarella Stock Performance

AMBA traded up $3.69 on Monday, hitting $76.22. 1,115,342 shares of the company were exchanged, compared to its average volume of 607,935. The company has a market cap of $3.18 billion, a PE ratio of -19.75 and a beta of 1.68. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $81.32. The stock's fifty day moving average is $62.53 and its 200-day moving average is $57.01.

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.