Handelsbanken Fonder AB Sells 1,000 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Handelsbanken Fonder AB cut its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA) by 7.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,144 shares of the semiconductor company’s stock after selling 1,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Ambarella were worth $956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. 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 worth $48,626,000 after acquiring an additional 355,078 shares in the last quarter. Barclays PLC raised its holdings in Ambarella by 281.3% in the 3rd 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 during the period. Stephens Investment Management Group LLC increased its stake in Ambarella by 20.1% during the third quarter. Stephens Investment Management Group LLC now owns 501,036 shares of the semiconductor company’s stock worth $28,261,000 after purchasing an additional 83,752 shares during the period. Lord Abbett & CO. LLC purchased a new stake in Ambarella during the third quarter worth about $3,905,000. Finally, The Manufacturers Life Insurance Company increased its stake in Ambarella by 4.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock worth $76,332,000 after purchasing an additional 61,387 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Needham & Company LLC upped their target price on shares of Ambarella from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com cut Ambarella from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price objective on shares of Ambarella in a research report on Thursday. Northland Securities reaffirmed an “outperform” rating and set a $95.00 price objective (up previously from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Finally, Stifel Nicolaus raised their price target on Ambarella from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.67.

Ambarella Stock Performance

AMBA opened at $62.92 on Friday. Ambarella, Inc. has a one year low of $39.69 and a one year high of $85.15. The stock’s fifty day moving average is $76.37 and its 200-day moving average is $64.94. The company has a market capitalization of $2.62 billion, a PE ratio of -16.30 and a beta of 1.66.

Insider Transactions at Ambarella

In other news, CTO Leslie Kohn sold 1,757 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $75.41, for a total transaction of $132,495.37. Following the completion of the sale, the chief technology officer now directly owns 959,676 shares of the company’s stock, valued at $72,369,167.16. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher Day sold 1,278 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $71.61, for a total value of $91,517.58. Following the transaction, the vice president now directly owns 17,188 shares in the company, valued at approximately $1,230,832.68. This represents a 6.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,861 shares of company stock valued at $1,945,436 over the last three months. Company insiders own 5.70% of the company’s stock.

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.