Van ECK Associates Corp Acquires 5,388 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Van ECK Associates Corp increased its position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 118.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,951 shares of the semiconductor company's stock after buying an additional 5,388 shares during the period. Van ECK Associates Corp's holdings in Ambarella were worth $724,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Pacer Advisors Inc. boosted its position 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 acquiring an additional 188 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Ambarella by 5.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,003 shares of the semiconductor company's stock worth $364,000 after acquiring an additional 236 shares during the last quarter. Versor Investments LP lifted its holdings in Ambarella by 5.9% during the 3rd quarter. Versor Investments LP now owns 4,619 shares of the semiconductor company's stock worth $261,000 after buying an additional 256 shares during the last quarter. Blue Trust Inc. grew its position in shares of Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company's stock valued at $27,000 after buying an additional 321 shares during the last quarter. Finally, Trust Point Inc. boosted its stake in Ambarella by 4.9% during the 4th quarter. Trust Point Inc. now owns 10,560 shares of the semiconductor company's stock worth $768,000 after purchasing an additional 497 shares during the period. Hedge funds and other institutional investors own 82.09% of the company's stock.

Ambarella Price Performance

NASDAQ AMBA traded up $2.30 during mid-day trading on Wednesday, reaching $75.93. 535,607 shares of the stock were exchanged, compared to its average volume of 650,200. The stock has a market cap of $3.17 billion, a P/E ratio of -19.75 and a beta of 1.66. Ambarella, Inc. has a one year low of $39.69 and a one year high of $85.15. The stock has a 50 day simple moving average of $76.25 and a 200-day simple moving average of $64.86.

Insider Buying and Selling

In related news, CEO Feng-Ming Wang sold 4,296 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $75.41, for a total transaction of $323,961.36. Following the transaction, the chief executive officer now directly owns 755,231 shares of the company's stock, valued at approximately $56,951,969.71. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Chan W. Lee sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $75.90, for a total value of $75,900.00. Following the completion of the sale, the chief operating officer now owns 110,918 shares of the company's stock, valued at $8,418,676.20. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,861 shares of company stock worth $1,945,436. 5.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on AMBA. Stifel Nicolaus boosted their target price on shares of Ambarella from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Susquehanna boosted their price objective on shares of Ambarella from $95.00 to $100.00 and gave the stock a "positive" rating in a research note on Wednesday, January 22nd. StockNews.com lowered shares of Ambarella from a "hold" rating to a "sell" rating in a report on Tuesday, December 10th. Needham & Company LLC boosted their target price on shares of Ambarella from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. 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 assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Ambarella has a consensus rating of "Moderate Buy" and an average target price of $85.42.

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.