Cornerstone Investment Partners LLC Takes $238,000 Position in Ambarella, Inc. (NASDAQ:AMBA)

Cornerstone Investment Partners LLC bought a new stake in shares of Ambarella, Inc. (NASDAQ:AMBA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,278 shares of the semiconductor company’s stock, valued at approximately $238,000.

A number of other hedge funds have also recently modified their holdings of AMBA. Point72 Asset Management L.P. boosted its holdings in shares of Ambarella by 70.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock valued at $48,626,000 after buying an additional 355,078 shares in the last quarter. Barclays PLC boosted its holdings in shares of Ambarella by 281.3% during the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock valued at $21,891,000 after buying an additional 286,296 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Ambarella during the 3rd quarter valued at $3,905,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Ambarella by 4.8% during 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 buying an additional 61,387 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Ambarella by 2.6% during the 3rd quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock valued at $108,536,000 after buying an additional 47,856 shares in the last quarter. Institutional investors own 82.09% of the company’s stock.

Ambarella Trading Down 7.5 %

Ambarella stock opened at $56.81 on Tuesday. The firm has a 50 day moving average of $75.74 and a 200 day moving average of $65.39. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -14.72 and a beta of 1.66. Ambarella, Inc. has a 12-month low of $39.69 and a 12-month high of $85.15.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of Ambarella in a research note on Thursday, February 27th. Craig Hallum upped their price target on shares of Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Needham & Company LLC upped their price target on shares of Ambarella from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Stifel Nicolaus upped their price target on shares of Ambarella from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, 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 research note on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $86.67.

Insider Buying and Selling

In other Ambarella news, VP Chi-Hong Ju sold 5,118 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $75.71, for a total value of $387,483.78. Following the completion of the transaction, the vice president now directly owns 158,686 shares in the company, valued at $12,014,117.06. This represents a 3.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Chan W. Lee sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $75.90, for a total value of $75,900.00. Following the transaction, the chief operating officer now owns 110,918 shares of the company’s stock, valued at $8,418,676.20. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,583 shares of company stock valued at $1,853,918. 5.70% of the stock is owned by corporate insiders.

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.