Summit Global Investments Makes New $642,000 Investment in Ambarella, Inc. (NASDAQ:AMBA)

Summit Global Investments acquired a new stake in shares of Ambarella, Inc. (NASDAQ:AMBA) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 8,832 shares of the semiconductor company’s stock, valued at approximately $642,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Intech Investment Management LLC purchased a new position in shares of Ambarella during the 3rd quarter valued at $722,000. Charles Schwab Investment Management Inc. increased its stake in Ambarella by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 320,319 shares of the semiconductor company’s stock worth $18,068,000 after acquiring an additional 3,700 shares during the last quarter. Algert Global LLC raised its holdings in Ambarella by 76.2% during the 3rd quarter. Algert Global LLC now owns 94,999 shares of the semiconductor company’s stock valued at $5,358,000 after buying an additional 41,094 shares during the period. Larson Financial Group LLC grew its holdings in Ambarella by 6,014.3% during the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 842 shares during the last quarter. Finally, Alpha DNA Investment Management LLC lifted its stake in Ambarella by 16.1% in the third quarter. Alpha DNA Investment Management LLC now owns 8,480 shares of the semiconductor company’s stock worth $478,000 after purchasing an additional 1,175 shares during the last quarter. 82.09% of the stock is owned by institutional investors.

Insider Transactions at Ambarella

In related news, CFO John Alexander Young sold 2,103 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $115,707.06. Following the sale, the chief financial officer now owns 113,886 shares of the company’s stock, valued at approximately $6,266,007.72. This represents a 1.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Feng-Ming Wang sold 3,194 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 $175,733.88. Following the completion of the transaction, the chief executive officer now directly owns 798,311 shares of the company’s stock, valued at $43,923,071.22. The trade was a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,575 shares of company stock valued at $1,069,957 in the last ninety days. 5.70% of the stock is currently owned by company insiders.

Ambarella Stock Down 0.7 %

AMBA opened at $54.26 on Monday. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $85.15. The business has a 50 day moving average price of $69.81 and a two-hundred day moving average price of $65.43. The company has a market cap of $2.26 billion, a PE ratio of -14.06 and a beta of 1.78.

Wall Street Analysts Forecast Growth

AMBA has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Craig Hallum upped their price target on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Bank of America raised Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a report on Monday, December 16th. Stifel Nicolaus raised their target price on Ambarella from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC upped their price target on shares of Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.67.

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.