Point72 Asset Management L.P. Boosts Stock Position in Ambarella, Inc. (NASDAQ:AMBA)

Point72 Asset Management L.P. boosted its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 70.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 862,084 shares of the semiconductor company’s stock after purchasing an additional 355,078 shares during the quarter. Point72 Asset Management L.P. owned approximately 2.09% of Ambarella worth $48,626,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Janus Henderson Group PLC lifted its position in Ambarella by 2.9% during the 3rd quarter. Janus Henderson Group PLC now owns 29,191 shares of the semiconductor company’s stock worth $1,647,000 after acquiring an additional 823 shares during the period. ArrowMark Colorado Holdings LLC boosted its holdings in shares of Ambarella by 21.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 85,000 shares of the semiconductor company’s stock worth $4,794,000 after purchasing an additional 15,000 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Ambarella in the third quarter valued at $326,000. Verition Fund Management LLC boosted its holdings in Ambarella by 46.1% in the third quarter. Verition Fund Management LLC now owns 22,894 shares of the semiconductor company’s stock valued at $1,291,000 after acquiring an additional 7,219 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Ambarella by 7.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 666,286 shares of the semiconductor company’s stock valued at $37,582,000 after purchasing an additional 43,874 shares during the period. 82.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AMBA shares. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a report on Friday, August 23rd. Northland Securities reiterated an “outperform” rating and issued a $95.00 price objective (up from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Roth Mkm reaffirmed a “neutral” rating and set a $60.00 price objective on shares of Ambarella in a report on Wednesday, August 28th. TD Cowen upped their target price on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, Morgan Stanley upped their target price on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.67.

Insider Buying and Selling at Ambarella

In other news, VP Christopher Day sold 483 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $25,859.82. Following the sale, the vice president now owns 21,370 shares of the company’s stock, valued at approximately $1,144,149.80. This represents a 2.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Feng-Ming Wang sold 4,301 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $230,275.54. Following the completion of the transaction, the chief executive officer now owns 799,527 shares of the company’s stock, valued at $42,806,675.58. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,356 shares of company stock worth $859,210. Insiders own 5.70% of the company’s stock.

Ambarella Stock Performance

Shares of NASDAQ AMBA opened at $71.08 on Thursday. Ambarella, Inc. has a fifty-two week low of $39.69 and a fifty-two week high of $81.32. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -18.41 and a beta of 1.68. The business’s 50 day moving average price is $60.29 and its 200-day moving average price is $55.86.

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.