Los Angeles Capital Management LLC Invests $558,000 in Ambarella, Inc. (NASDAQ:AMBA)

Los Angeles Capital Management LLC bought a new position in shares of Ambarella, Inc. (NASDAQ:AMBA) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 7,678 shares of the semiconductor company’s stock, valued at approximately $558,000.

A number of other institutional investors have also modified their holdings of AMBA. Point72 Asset Management L.P. increased its holdings in Ambarella by 70.0% in 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 purchasing an additional 355,078 shares in the last quarter. Barclays PLC grew its stake in shares of Ambarella by 281.3% in the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock valued at $21,891,000 after buying an additional 286,296 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Ambarella during the 3rd quarter valued at about $3,905,000. The Manufacturers Life Insurance Company raised its holdings in shares of Ambarella by 4.8% during 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. Finally, State Street Corp lifted 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 worth $108,536,000 after acquiring an additional 47,856 shares in the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AMBA. Craig Hallum increased their price objective 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price target on shares of Ambarella in a research note on Thursday, February 27th. StockNews.com upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a report on Friday. Bank of America upgraded Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a research note on Monday, December 16th. Finally, Morgan Stanley lifted their target price on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.67.

Insiders Place Their Bets

In other news, VP Chi-Hong Ju sold 5,118 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $75.71, for a total value of $387,483.78. Following the transaction, the vice president now directly owns 158,686 shares in the company, valued at approximately $12,014,117.06. This trade represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Chan W. Lee sold 1,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the sale, the chief operating officer now directly owns 116,918 shares of the company’s stock, valued at approximately $9,254,059.70. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,583 shares of company stock valued at $1,853,918 over the last 90 days. 5.70% of the stock is owned by company insiders.

Ambarella Trading Down 7.5 %

Shares of AMBA opened at $56.81 on Tuesday. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -14.72 and a beta of 1.66. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $85.15. The stock has a 50 day moving average of $75.74 and a 200-day moving average of $65.39.

About Ambarella

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.