Paloma Partners Management Co acquired a new position in Ambarella Inc (NASDAQ:AMBA) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,700 shares of the semiconductor company’s stock, valued at approximately $234,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in AMBA. Stephens Inc. AR bought a new stake in Ambarella during the 4th quarter valued at about $206,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in Ambarella during the 4th quarter valued at about $210,000. Fox Run Management L.L.C. bought a new stake in Ambarella during the 4th quarter valued at about $244,000. Point72 Asset Management L.P. bought a new stake in shares of Ambarella in the 3rd quarter valued at about $330,000. Finally, Blair William & Co. IL bought a new stake in shares of Ambarella in the 3rd quarter valued at about $341,000. 72.99% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:AMBA traded down $0.59 during trading hours on Friday, hitting $48.64. 745,994 shares of the company were exchanged, compared to its average volume of 388,488. The company has a market cap of $1.59 billion, a PE ratio of -43.04 and a beta of 1.05. Ambarella Inc has a 52-week low of $30.00 and a 52-week high of $55.50.
Several equities research analysts have recently commented on AMBA shares. Craig Hallum upgraded shares of Ambarella from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Wednesday, March 6th. BidaskClub upgraded shares of Ambarella from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 11th. ValuEngine lowered shares of Ambarella from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 2nd. Northland Securities reaffirmed a “buy” rating on shares of Ambarella in a research report on Wednesday, March 6th. Finally, TheStreet raised shares of Ambarella from a “d” rating to a “c-” rating in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Ambarella has an average rating of “Hold” and a consensus target price of $45.67.
In related news, VP Yun-Lung Chen sold 6,320 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $41.28, for a total value of $260,889.60. Following the completion of the transaction, the vice president now directly owns 27,511 shares in the company, valued at approximately $1,135,654.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 1,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $43.73, for a total transaction of $43,730.00. Following the completion of the transaction, the director now owns 20,309 shares of the company’s stock, valued at $888,112.57. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,886 shares of company stock valued at $936,308. Company insiders own 5.84% of the company’s stock.
Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.
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