Ambarella, Inc. (NASDAQ:AMBA) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its position in Ambarella, Inc. (NASDAQ:AMBA) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,837 shares of the semiconductor company’s stock after selling 1,423 shares during the period. Corebridge Financial Inc.’s holdings in Ambarella were worth $1,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMBA. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Ambarella by 68.7% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 184 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Ambarella during the 4th quarter worth about $53,000. R Squared Ltd acquired a new stake in shares of Ambarella during the 4th quarter valued at about $68,000. Pacer Advisors Inc. increased its stake in shares of Ambarella by 24.2% in the 4th quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company’s stock valued at $70,000 after purchasing an additional 188 shares in the last quarter. Finally, Manchester Capital Management LLC raised its holdings in Ambarella by 21.8% in the 4th quarter. Manchester Capital Management LLC now owns 1,175 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 210 shares during the period. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Ambarella Stock Performance

Shares of NASDAQ AMBA opened at $45.29 on Friday. The stock’s 50-day simple moving average is $64.91 and its 200-day simple moving average is $65.21. The firm has a market capitalization of $1.89 billion, a PE ratio of -11.73 and a beta of 1.78. Ambarella, Inc. has a fifty-two week low of $39.69 and a fifty-two week high of $85.15.

Insiders Place Their Bets

In other news, 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 value of $26,354.58. Following the completion of the sale, the vice president now owns 15,441 shares in the company, valued at approximately $849,563.82. This trade represents a 3.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Feng-Ming Wang sold 3,194 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $175,733.88. Following the transaction, the chief executive officer now directly owns 798,311 shares in the company, valued at $43,923,071.22. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,328 shares of company stock valued at $889,617. 5.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Susquehanna boosted their target price on shares of Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. Needham & Company LLC increased their price target on shares of Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Stifel Nicolaus upped their price target on Ambarella from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of Ambarella in a research note on Thursday, February 27th. Finally, Bank of America upgraded shares of 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. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.67.

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.