Ambarella, Inc. (NASDAQ:AMBA) Sees Large Decline in Short Interest

Ambarella, Inc. (NASDAQ:AMBA) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 1,370,000 shares, a drop of 29.7% from the February 28th total of 1,950,000 shares. Approximately 3.5% of the company’s stock are sold short. Based on an average trading volume of 824,600 shares, the short-interest ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

A number of research firms have 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 research note on Monday, December 16th. Needham & Company LLC increased their price objective on Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Stifel Nicolaus boosted 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. StockNews.com upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Rosenblatt Securities restated a “buy” rating and set a $100.00 price objective on shares of Ambarella in a research report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.67.

Ambarella Stock Performance

Shares of Ambarella stock opened at $50.61 on Monday. The company’s fifty day moving average is $67.51 and its two-hundred day moving average is $65.48. Ambarella has a 1 year low of $39.69 and a 1 year high of $85.15. The company has a market capitalization of $2.11 billion, a P/E ratio of -13.11 and a beta of 1.78.

Insider Activity

In other Ambarella news, COO Chan W. Lee sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $73.48, for a total transaction of $73,480.00. Following the completion of the transaction, the chief operating officer now owns 114,918 shares in the company, valued at $8,444,174.64. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher Day sold 479 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total transaction of $26,354.58. Following the completion of the sale, the vice president now owns 15,441 shares in the company, valued at $849,563.82. The trade was a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,575 shares of company stock worth $987,007. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. purchased a new stake in Ambarella during the 4th quarter valued at approximately $52,770,000. Point72 Asset Management L.P. increased its holdings in shares of Ambarella by 70.0% in the third 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 during the period. Invesco Ltd. increased its holdings in shares of Ambarella by 736.7% in the fourth quarter. Invesco Ltd. now owns 335,730 shares of the semiconductor company’s stock valued at $24,421,000 after purchasing an additional 295,606 shares during the period. Barclays PLC raised its stake in shares of Ambarella by 281.3% during the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after purchasing an additional 286,296 shares during the last quarter. Finally, Woodline Partners LP lifted its holdings in shares of Ambarella by 2,367.1% during the fourth quarter. Woodline Partners LP now owns 263,333 shares of the semiconductor company’s stock worth $19,155,000 after purchasing an additional 252,659 shares during the period. Hedge funds and other institutional investors own 82.09% 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.