Pitcairn Co. Has $425,000 Stock Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Pitcairn Co. grew its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA) by 6.2% in the 4th quarter, Holdings Channel reports. The fund owned 5,839 shares of the semiconductor company’s stock after buying an additional 340 shares during the period. Pitcairn Co.’s holdings in Ambarella were worth $425,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ increased its position in Ambarella by 68.7% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 184 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Ambarella during the fourth quarter worth $53,000. R Squared Ltd bought a new stake in shares of Ambarella during the fourth quarter worth $68,000. National Bank of Canada FI acquired a new position in shares of Ambarella during the fourth quarter worth $69,000. Finally, Pacer Advisors Inc. lifted its stake in shares of Ambarella by 24.2% in the 4th quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company’s stock valued at $70,000 after acquiring an additional 188 shares during the last quarter. Institutional investors own 82.09% of the company’s stock.

Insider Activity at Ambarella

In other Ambarella news, CFO John Alexander Young sold 2,103 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $115,707.06. Following the completion of the sale, the chief financial officer now directly owns 113,886 shares in the company, valued at approximately $6,266,007.72. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Chan W. Lee sold 1,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the transaction, the chief operating officer now owns 116,918 shares in the company, valued at $9,254,059.70. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,328 shares of company stock worth $889,617 in the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMBA. Stifel Nicolaus boosted their price objective on Ambarella from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Needham & Company LLC upped their price objective on Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Bank of America upgraded shares of 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. Susquehanna lifted their price target on shares of Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, January 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Ambarella in a research note on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $86.67.

Ambarella Trading Down 7.4 %

Shares of AMBA opened at $41.94 on Friday. The firm’s fifty day simple moving average is $64.15 and its two-hundred day simple moving average is $65.20. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $85.15. The stock has a market capitalization of $1.75 billion, a P/E ratio of -10.87 and a beta of 1.78.

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.