OFI Invest Asset Management Buys New Stake in Ambarella, Inc. (NASDAQ:AMBA)

OFI Invest Asset Management bought a new stake in Ambarella, Inc. (NASDAQ:AMBA) during the fourth quarter, HoldingsChannel.com reports. The fund bought 11,832 shares of the semiconductor company’s stock, valued at approximately $831,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMBA. Larson Financial Group LLC boosted its position in Ambarella by 6,014.3% in the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 842 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Ambarella in the fourth quarter valued at about $53,000. R Squared Ltd acquired a new position in Ambarella in the fourth quarter valued at about $68,000. Truvestments Capital LLC acquired a new position in Ambarella in the third quarter valued at about $69,000. Finally, Pacer Advisors Inc. boosted its position in Ambarella by 24.2% in the fourth quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company’s stock valued at $70,000 after buying an additional 188 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMBA has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Northland Securities reiterated an “outperform” rating and set a $95.00 target price (up from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Craig Hallum upped their target price on shares of Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Susquehanna upped their target price on shares of Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. Finally, Morgan Stanley upped their target price on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.67.

Ambarella Stock Performance

Shares of NASDAQ:AMBA opened at $53.07 on Monday. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $85.15. The company has a market capitalization of $2.21 billion, a PE ratio of -13.75 and a beta of 1.78. The company has a 50 day moving average price of $74.17 and a two-hundred day moving average price of $65.56.

Insider Transactions at Ambarella

In related news, COO Chan W. Lee sold 1,488 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $75.41, for a total transaction of $112,210.08. Following the completion of the transaction, the chief operating officer now owns 119,918 shares in the company, valued at approximately $9,043,016.38. This represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hsiao-Wuen Hon sold 377 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $74.15, for a total transaction of $27,954.55. Following the transaction, the director now owns 28,278 shares of the company’s stock, valued at $2,096,813.70. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,465 shares of company stock valued at $1,466,434 over the last quarter. Corporate insiders own 5.70% of the company’s stock.

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.