Ambarella, Inc. (NASDAQ:AMBA) Stake Lifted by Wells Fargo & Company MN

Wells Fargo & Company MN raised its stake in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 15.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 53,397 shares of the semiconductor company's stock after acquiring an additional 7,312 shares during the period. Wells Fargo & Company MN owned approximately 0.13% of Ambarella worth $3,884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in Ambarella by 281.3% during the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company's stock worth $21,891,000 after acquiring an additional 286,296 shares during the period. Alliancebernstein L.P. lifted its position in Ambarella by 345.2% during the fourth quarter. Alliancebernstein L.P. now owns 189,235 shares of the semiconductor company's stock valued at $13,765,000 after purchasing an additional 146,729 shares during the last quarter. Vanguard Group Inc. lifted its position in Ambarella by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 4,696,124 shares of the semiconductor company's stock worth $341,596,000 after buying an additional 81,557 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Ambarella by 34.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 305,395 shares of the semiconductor company's stock worth $22,214,000 after buying an additional 78,893 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in Ambarella during the third quarter valued at $3,905,000. Institutional investors own 82.09% of the company's stock.

Ambarella Trading Up 8.5 %

NASDAQ AMBA traded up $3.64 during trading hours on Thursday, reaching $46.66. 604,187 shares of the company traded hands, compared to its average volume of 696,926. The company has a 50 day moving average of $54.35 and a two-hundred day moving average of $63.83. The stock has a market capitalization of $1.98 billion, a PE ratio of -12.09 and a beta of 1.86. Ambarella, Inc. has a 12 month low of $38.86 and a 12 month high of $85.15.

Insider Transactions at Ambarella

In related news, VP Christopher Day sold 479 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $26,354.58. Following the sale, the vice president now directly owns 15,441 shares of the company's stock, valued at approximately $849,563.82. This represents a 3.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO John Alexander Young sold 2,103 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $115,707.06. Following the completion of the transaction, the chief financial officer now owns 113,886 shares in the company, valued at approximately $6,266,007.72. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,328 shares of company stock valued at $513,467. Insiders own 5.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AMBA shares. Stifel Nicolaus dropped their price objective on Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. 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. Rosenblatt Securities restated a "buy" rating and set a $100.00 target price on shares of Ambarella in a report on Thursday, February 27th. Needham & Company LLC lifted their price target on Ambarella from $100.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, StockNews.com upgraded shares of Ambarella from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Ambarella has a consensus rating of "Moderate Buy" and a consensus price target of $85.00.

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.