Christopher Day Sells 479 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) VP Christopher Day sold 479 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $26,354.58. Following the completion of the sale, the vice president now directly owns 15,441 shares of the company’s stock, valued at $849,563.82. This represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Christopher Day also recently made the following trade(s):

• On Friday, January 3rd, Christopher Day sold 1,247 shares of Ambarella stock. The stock was sold at an average price of $78.10, for a total value of $97,390.70.

Ambarella Stock Down 0.7 %

Ambarella stock opened at $54.26 on Friday. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $85.15. The business has a 50-day simple moving average of $69.81 and a 200 day simple moving average of $65.29. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -14.06 and a beta of 1.78.

Hedge Funds Weigh In On Ambarella

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Ambarella by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 4,696,124 shares of the semiconductor company’s stock worth $341,596,000 after purchasing an additional 81,557 shares during the last quarter. State Street Corp lifted its stake in Ambarella by 2.6% during the third quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock worth $108,536,000 after purchasing an additional 47,856 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Ambarella by 7.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,452,128 shares of the semiconductor company’s stock worth $105,628,000 after purchasing an additional 98,841 shares during the last quarter. Millennium Management LLC lifted its stake in Ambarella by 11.5% during the fourth quarter. Millennium Management LLC now owns 1,394,192 shares of the semiconductor company’s stock worth $101,414,000 after purchasing an additional 144,268 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Ambarella by 4.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock worth $76,332,000 after purchasing an additional 61,387 shares during the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on AMBA shares. Susquehanna raised their target price on Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. Bank of America upgraded Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research report on Monday, December 16th. Northland Securities reiterated an “outperform” rating and issued a $95.00 price target (up from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Stifel Nicolaus lifted their price target on Ambarella from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, StockNews.com upgraded Ambarella from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.67.

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.