ProShare Advisors LLC Purchases 2,194 Shares of Ambarella, Inc. (NASDAQ:AMBA)

ProShare Advisors LLC lifted its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 19.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,665 shares of the semiconductor company’s stock after buying an additional 2,194 shares during the period. ProShare Advisors LLC’s holdings in Ambarella were worth $994,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Arizona State Retirement System boosted its position 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 buying an additional 156 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Ambarella by 4.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,964 shares of the semiconductor company’s stock valued at $288,000 after buying an additional 161 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position 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 buying an additional 184 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Ambarella by 24.2% during 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 during the last quarter. Finally, Manchester Capital Management LLC boosted its position in shares of Ambarella by 21.8% during the fourth quarter. Manchester Capital Management LLC now owns 1,175 shares of the semiconductor company’s stock valued at $85,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMBA. Needham & Company LLC lifted their target price on Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Wall Street Zen raised Ambarella from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Ambarella in a research report on Thursday, February 27th. Finally, Stifel Nicolaus cut their price objective on Ambarella from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Five 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Ambarella Trading Down 0.7%

AMBA stock opened at $63.14 on Friday. The stock’s fifty day simple moving average is $50.62 and its two-hundred day simple moving average is $63.37. Ambarella, Inc. has a 1-year low of $38.86 and a 1-year high of $85.15. The stock has a market cap of $2.68 billion, a P/E ratio of -16.36 and a beta of 1.99.

Insider Buying and Selling at Ambarella

In other Ambarella news, COO Chan W. Lee sold 1,468 shares of the business’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 $80,769.36. Following the sale, the chief operating officer now directly owns 130,297 shares in the company, valued at $7,168,940.94. The trade was a 1.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John Alexander Young sold 2,103 shares of the business’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 owns 113,886 shares in the company, valued at approximately $6,266,007.72. The trade was a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,328 shares of company stock worth $513,467 over the last ninety days. 5.70% of the stock is currently owned by company 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.