Red Spruce Capital LLC Makes New $434,000 Investment in Ambarella, Inc. (NASDAQ:AMBA)

Red Spruce Capital LLC acquired a new position in shares of Ambarella, Inc. (NASDAQ:AMBA) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,621 shares of the semiconductor company’s stock, valued at approximately $434,000.

Several other institutional investors also recently modified their holdings of AMBA. Arizona State Retirement System raised 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 worth $827,000 after acquiring an additional 156 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in Ambarella by 4.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,964 shares of the semiconductor company’s stock valued at $288,000 after purchasing an additional 161 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in Ambarella by 68.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 184 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Ambarella by 24.2% in the fourth quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company’s stock valued at $70,000 after purchasing an additional 188 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Ambarella by 3.2% during the fourth quarter. Mackenzie Financial Corp now owns 6,406 shares of the semiconductor company’s stock valued at $466,000 after buying an additional 201 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley cut their price objective on shares of Ambarella from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday. Needham & Company LLC boosted their target price on Ambarella from $100.00 to $110.00 and gave the stock a “buy” rating in a research note 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 reiterated a “buy” rating and set a $100.00 price target on shares of Ambarella in a report on Thursday, February 27th. Finally, Stifel Nicolaus lowered their price target on shares of Ambarella from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Ambarella has a consensus rating of “Moderate Buy” and an average target price of $84.17.

Insider Buying and Selling

In other Ambarella news, COO Chan W. Lee sold 1,468 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total transaction of $80,769.36. Following the completion of the sale, the chief operating officer now owns 130,297 shares of the company’s stock, valued at $7,168,940.94. This represents a 1.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher Day sold 479 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total transaction of $26,354.58. Following the completion of the transaction, the vice president now owns 15,441 shares in the company, valued at $849,563.82. The trade was a 3.01% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,328 shares of company stock worth $513,467. Corporate insiders own 5.30% of the company’s stock.

Ambarella Stock Down 0.6%

Ambarella stock opened at $62.00 on Friday. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -16.06 and a beta of 1.99. The business has a 50-day simple moving average of $51.37 and a 200 day simple moving average of $63.44. Ambarella, Inc. has a 52 week low of $38.86 and a 52 week high of $85.15.

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.