Edgestream Partners L.P. Buys Shares of 35,985 Ambarella, Inc. (NASDAQ:AMBA)

Edgestream Partners L.P. bought a new position in Ambarella, Inc. (NASDAQ:AMBA) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 35,985 shares of the semiconductor company’s stock, valued at approximately $1,811,000. Edgestream Partners L.P. owned 0.08% of Ambarella at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Rhumbline Advisers boosted its stake in Ambarella by 4.0% in the first quarter. Rhumbline Advisers now owns 58,571 shares of the semiconductor company’s stock valued at $2,948,000 after acquiring an additional 2,249 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Ambarella by 238.3% in the first quarter. Janney Montgomery Scott LLC now owns 13,474 shares of the semiconductor company’s stock valued at $678,000 after buying an additional 9,491 shares in the last quarter. GAMMA Investing LLC raised its stake in Ambarella by 6,804.3% during the 1st quarter. GAMMA Investing LLC now owns 16,156 shares of the semiconductor company’s stock valued at $813,000 after purchasing an additional 15,922 shares during the period. Proficio Capital Partners LLC acquired a new stake in Ambarella during the 4th quarter valued at $1,032,000. Finally, Sei Investments Co. grew its holdings in shares of Ambarella by 17.6% during the 4th quarter. Sei Investments Co. now owns 10,959 shares of the semiconductor company’s stock valued at $797,000 after acquiring an additional 1,639 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ambarella

In other news, Director Christopher B. Paisley sold 1,000 shares of Ambarella stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $62.58, for a total transaction of $62,580.00. Following the completion of the sale, the director directly owned 39,281 shares in the company, valued at approximately $2,458,204.98. This trade represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AMBA shares. Stifel Nicolaus decreased their price objective on shares of Ambarella from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Morgan Stanley dropped their price target on shares of Ambarella from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, May 27th. Rosenblatt Securities raised their price objective on shares of Ambarella from $87.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, May 30th. Summit Insights raised shares of Ambarella to a “hold” rating in a research note on Thursday, May 29th. Finally, Needham & Company LLC cut their target price on shares of Ambarella from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, May 30th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $84.55.

Ambarella Price Performance

Shares of Ambarella stock opened at $70.48 on Friday. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of -28.31 and a beta of 2.05. The firm’s 50-day moving average is $60.50 and its 200 day moving average is $61.32. Ambarella, Inc. has a 1 year low of $38.86 and a 1 year high of $85.15.

Ambarella 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.