Trust Point Inc. Raises Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Trust Point Inc. lifted its position in Ambarella, Inc. (NASDAQ:AMBA) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,560 shares of the semiconductor company’s stock after acquiring an additional 497 shares during the quarter. Trust Point Inc.’s holdings in Ambarella were worth $768,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp increased its position in Ambarella by 2.6% during the 3rd quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock valued at $108,536,000 after purchasing an additional 47,856 shares during the period. The Manufacturers Life Insurance Company raised its stake in Ambarella by 4.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock worth $76,332,000 after buying an additional 61,387 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Ambarella by 1.6% during the third quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock worth $51,719,000 after buying an additional 14,568 shares during the period. Point72 Asset Management L.P. boosted its position in Ambarella by 70.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock valued at $48,626,000 after acquiring an additional 355,078 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Ambarella by 7.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 666,286 shares of the semiconductor company’s stock valued at $37,582,000 after acquiring an additional 43,874 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMBA. Needham & Company LLC raised their price objective on Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Morgan Stanley raised their price target on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Stifel Nicolaus boosted their price objective on shares of Ambarella from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Craig Hallum raised their target price on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Bank of America raised shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a report on Monday, December 16th. One investment 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.42.

Ambarella Stock Performance

Shares of AMBA stock opened at $76.43 on Wednesday. Ambarella, Inc. has a fifty-two week low of $39.69 and a fifty-two week high of $85.15. The firm has a market capitalization of $3.19 billion, a PE ratio of -19.80 and a beta of 1.66. The stock’s 50-day simple moving average is $74.69 and its 200-day simple moving average is $61.84.

Insider Buying and Selling

In other Ambarella news, VP Christopher Day sold 1,278 shares of Ambarella stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $71.61, for a total transaction of $91,517.58. Following the completion of the transaction, the vice president now owns 17,188 shares in the company, valued at approximately $1,230,832.68. This trade represents a 6.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Feng-Ming Wang sold 4,296 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $75.41, for a total value of $323,961.36. Following the sale, the chief executive officer now directly owns 755,231 shares in the company, valued at approximately $56,951,969.71. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,861 shares of company stock worth $1,945,436. 5.70% of the stock is owned by company insiders.

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.