Ambarella, Inc. (NASDAQ:AMBA) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its holdings in Ambarella, Inc. (NASDAQ:AMBA) by 12.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 25,800 shares of the semiconductor company’s stock after selling 3,600 shares during the period. Primecap Management Co. CA’s holdings in Ambarella were worth $1,877,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AMBA. Oppenheimer & Co. Inc. purchased a new stake in Ambarella in the third quarter valued at approximately $663,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Ambarella by 18.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 226,502 shares of the semiconductor company’s stock valued at $12,776,000 after buying an additional 35,977 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Ambarella during the 3rd quarter worth $722,000. Charles Schwab Investment Management Inc. raised its position in shares of Ambarella by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 320,319 shares of the semiconductor company’s stock worth $18,068,000 after buying an additional 3,700 shares during the period. Finally, Algert Global LLC boosted its holdings in Ambarella by 76.2% in the third quarter. Algert Global LLC now owns 94,999 shares of the semiconductor company’s stock valued at $5,358,000 after acquiring an additional 41,094 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on AMBA shares. Morgan Stanley upped their price target on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Bank of America raised shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research note on Monday, December 16th. Northland Securities reaffirmed an “outperform” rating and set a $95.00 price target (up from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. 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 upped their target price on Ambarella from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.67.

Insider Transactions at Ambarella

In other news, VP Christopher Day sold 1,247 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $78.10, for a total value of $97,390.70. Following the completion of the sale, the vice president now directly owns 14,530 shares in the company, valued at approximately $1,134,793. The trade was a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Chan W. Lee sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $75.90, for a total value of $75,900.00. Following the sale, the chief operating officer now directly owns 110,918 shares in the company, valued at approximately $8,418,676.20. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,747 shares of company stock valued at $584,241. Insiders own 5.70% of the company’s stock.

Ambarella Trading Up 2.5 %

AMBA stock opened at $55.15 on Thursday. The firm has a 50 day simple moving average of $70.67 and a 200-day simple moving average of $65.40. The company has a market capitalization of $2.30 billion, a P/E ratio of -14.29 and a beta of 1.78. Ambarella, Inc. has a twelve month low of $39.69 and a twelve month high of $85.15.

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.