Ambarella, Inc. (NASDAQ:AMBA) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its stake in Ambarella, Inc. (NASDAQ:AMBA) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,158 shares of the semiconductor company’s stock after selling 553 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ambarella were worth $820,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its stake in shares of Ambarella by 70.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock worth $48,626,000 after acquiring an additional 355,078 shares during the last quarter. Barclays PLC increased its position in Ambarella by 281.3% during the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after purchasing an additional 286,296 shares during the last quarter. Stephens Investment Management Group LLC raised its stake in Ambarella by 20.1% during the third quarter. Stephens Investment Management Group LLC now owns 501,036 shares of the semiconductor company’s stock worth $28,261,000 after purchasing an additional 83,752 shares during the period. Lord Abbett & CO. LLC acquired a new position in Ambarella in the 3rd quarter valued at about $3,905,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Ambarella by 4.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock valued at $76,332,000 after buying an additional 61,387 shares during the period. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Ambarella Stock Performance

Shares of AMBA stock opened at $73.29 on Wednesday. Ambarella, Inc. has a fifty-two week low of $39.69 and a fifty-two week high of $85.15. The company has a 50 day moving average price of $75.16 and a 200 day moving average price of $62.45. The stock has a market capitalization of $3.06 billion, a P/E ratio of -18.99 and a beta of 1.66.

Wall Street Analyst Weigh In

AMBA has been the topic of several analyst reports. Craig Hallum lifted their price target on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Northland Securities restated an “outperform” rating and issued a $95.00 target price (up previously from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Bank of America upgraded Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a report on Monday, December 16th. Stifel Nicolaus boosted their price objective on shares of Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Morgan Stanley increased their target price on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Ambarella currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.42.

Insider Buying and Selling at Ambarella

In related news, VP Christopher Day sold 1,278 shares of Ambarella stock in a transaction on Monday, December 2nd. The stock was 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 directly owns 17,188 shares in the company, valued at approximately $1,230,832.68. This trade represents a 6.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Chan W. Lee sold 1,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $73.48, for a total value of $73,480.00. Following the sale, the chief operating officer now owns 114,918 shares in the company, valued at approximately $8,444,174.64. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,861 shares of company stock valued at $1,945,436 in the last 90 days. Company insiders own 5.70% of the company’s stock.

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.