Legal & General Group Plc Sells 84,046 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Legal & General Group Plc lowered its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA) by 15.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 452,693 shares of the semiconductor company’s stock after selling 84,046 shares during the quarter. Legal & General Group Plc’s holdings in Ambarella were worth $32,929,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in shares of Ambarella by 1.4% during the fourth quarter. Arizona State Retirement System now owns 11,368 shares of the semiconductor company’s stock valued at $827,000 after purchasing an additional 156 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Ambarella by 68.7% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 184 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Ambarella by 24.2% in the 4th quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company’s stock worth $70,000 after buying an additional 188 shares during the period. Manchester Capital Management LLC grew its position in shares of Ambarella by 21.8% during the 4th quarter. Manchester Capital Management LLC now owns 1,175 shares of the semiconductor company’s stock worth $85,000 after buying an additional 210 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Ambarella by 5.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,003 shares of the semiconductor company’s stock valued at $364,000 after buying an additional 236 shares during the period. Institutional investors own 82.09% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Susquehanna boosted their price target on Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. Needham & Company LLC raised their price objective on Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Stifel Nicolaus increased their target price on shares of Ambarella from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Bank of America raised Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research report 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $86.67.

Ambarella Stock Performance

NASDAQ:AMBA opened at $44.03 on Friday. The stock has a market capitalization of $1.87 billion, a PE ratio of -11.41 and a beta of 1.86. The company has a fifty day moving average of $59.68 and a two-hundred day moving average of $64.61. Ambarella, Inc. has a fifty-two week low of $38.86 and a fifty-two week high of $85.15.

Insider Transactions at Ambarella

In other Ambarella news, VP Christopher Day sold 479 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 15,441 shares in the company, valued at $849,563.82. This represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 500 shares of Ambarella stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $55.50, for a total value of $27,750.00. Following the completion of the sale, the director now directly owns 40,281 shares of the company’s stock, valued at $2,235,595.50. The trade was a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,328 shares of company stock valued at $662,867. Corporate insiders own 5.70% of the company’s stock.

Ambarella Company 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.