Rhumbline Advisers Cuts Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Rhumbline Advisers trimmed its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,322 shares of the semiconductor company’s stock after selling 285 shares during the period. Rhumbline Advisers’ holdings in Ambarella were worth $4,097,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 321 shares during the period. Larson Financial Group LLC grew its holdings in shares of Ambarella by 6,014.3% in the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 842 shares during the period. R Squared Ltd acquired a new stake in shares of Ambarella in the 4th quarter worth approximately $68,000. Truvestments Capital LLC acquired a new stake in shares of Ambarella in the 3rd quarter worth approximately $69,000. Finally, Pacer Advisors Inc. grew its holdings in shares of Ambarella by 24.2% in the 4th quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company’s stock worth $70,000 after acquiring an additional 188 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Chi-Hong Ju sold 5,118 shares of Ambarella stock in a transaction on Monday, December 9th. The stock was sold at an average price of $75.71, for a total value of $387,483.78. Following the transaction, the vice president now owns 158,686 shares in the company, valued at approximately $12,014,117.06. This trade represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher Day sold 1,278 shares of Ambarella stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $71.61, for a total value of $91,517.58. Following the completion of the transaction, the vice president now owns 17,188 shares in the company, valued at $1,230,832.68. The trade was a 6.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,861 shares of company stock valued at $1,945,436 in the last quarter. 5.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on AMBA. Bank of America upgraded Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a report on Monday, December 16th. Northland Securities reiterated an “outperform” rating and set a $95.00 target price (up previously from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Morgan Stanley increased their target price on Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Stifel Nicolaus increased their target price on Ambarella from $95.00 to $100.00 and gave the company a “buy” rating in a report on Thursday. Finally, Craig Hallum increased their target price on Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $86.67.

Ambarella Stock Down 2.2 %

Shares of Ambarella stock opened at $61.43 on Friday. Ambarella, Inc. has a fifty-two week low of $39.69 and a fifty-two week high of $85.15. The firm has a market cap of $2.56 billion, a PE ratio of -15.91 and a beta of 1.66. The business’s fifty day moving average is $76.26 and its two-hundred day moving average is $64.93.

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.