Point72 Asia Singapore Pte. Ltd. Reduces Stock Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Point72 Asia Singapore Pte. Ltd. lowered its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 29.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 900 shares of the semiconductor company’s stock after selling 368 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Ambarella were worth $51,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd raised its stake in Ambarella by 592.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock worth $1,460,000 after acquiring an additional 22,144 shares in the last quarter. Mirabella Financial Services LLP purchased a new stake in shares of Ambarella in the 3rd quarter valued at about $1,530,000. SWS Partners lifted its holdings in shares of Ambarella by 25.3% in the 2nd quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock valued at $4,290,000 after purchasing an additional 16,049 shares during the last quarter. Millennium Management LLC boosted its position in shares of Ambarella by 7.0% in the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after purchasing an additional 94,257 shares during the period. Finally, Larson Financial Group LLC grew its stake in Ambarella by 6,014.3% during the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after buying an additional 842 shares during the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Insider Buying and Selling at Ambarella

In other news, VP Christopher Day sold 1,278 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $71.61, for a total value of $91,517.58. Following the completion of the transaction, the vice president now owns 17,188 shares in the company, valued at $1,230,832.68. This trade represents a 6.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Elizabeth M. Schwarting sold 913 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $54.74, for a total transaction of $49,977.62. Following the sale, the director now directly owns 8,155 shares in the company, valued at approximately $446,404.70. This represents a 10.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,356 shares of company stock valued at $859,210. 5.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AMBA shares. Craig Hallum boosted their price objective on Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. TD Cowen upped their price target on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Stifel Nicolaus raised their price objective on shares of Ambarella from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Morgan Stanley lifted their price objective on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, Roth Mkm reiterated a “neutral” rating and set a $60.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Ambarella presently has an average rating of “Moderate Buy” and an average target price of $82.92.

Ambarella Price Performance

Ambarella stock opened at $71.70 on Friday. The stock’s 50 day moving average price is $60.84 and its 200 day moving average price is $56.15. Ambarella, Inc. has a 1-year low of $39.69 and a 1-year high of $81.32. The company has a market cap of $2.96 billion, a PE ratio of -18.58 and a beta of 1.68.

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.