The Manufacturers Life Insurance Company Buys 104,072 Shares of Ambarella, Inc. (NASDAQ:AMBA)

The Manufacturers Life Insurance Company lifted its stake in shares of Ambarella, Inc. (NASDAQ:AMBAFree Report) by 24.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 533,964 shares of the semiconductor company’s stock after acquiring an additional 104,072 shares during the period. The Manufacturers Life Insurance Company owned approximately 1.33% of Ambarella worth $32,727,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new position in Ambarella during the 4th quarter worth about $23,495,000. Assenagon Asset Management S.A. boosted its position in shares of Ambarella by 1,276.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 403,197 shares of the semiconductor company’s stock worth $24,712,000 after buying an additional 373,915 shares during the period. Rokos Capital Management LLP grew its holdings in shares of Ambarella by 121.0% during the third quarter. Rokos Capital Management LLP now owns 649,574 shares of the semiconductor company’s stock worth $34,626,000 after buying an additional 355,689 shares in the last quarter. Vanguard Group Inc. raised its position in Ambarella by 3.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,022,670 shares of the semiconductor company’s stock valued at $213,322,000 after buying an additional 139,767 shares during the last quarter. Finally, Freemont Management S.A. lifted its stake in Ambarella by 1,887.0% in the 3rd quarter. Freemont Management S.A. now owns 107,300 shares of the semiconductor company’s stock valued at $5,690,000 after acquiring an additional 101,900 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ambarella

In related news, COO Chan W. Lee sold 1,075 shares of Ambarella stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $49.27, for a total transaction of $52,965.25. Following the sale, the chief operating officer now directly owns 124,146 shares of the company’s stock, valued at approximately $6,116,673.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Chan W. Lee sold 1,075 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $49.27, for a total value of $52,965.25. Following the completion of the transaction, the chief operating officer now directly owns 124,146 shares in the company, valued at approximately $6,116,673.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Feng-Ming Wang sold 2,173 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $49.27, for a total value of $107,063.71. Following the sale, the chief executive officer now owns 806,632 shares in the company, valued at approximately $39,742,758.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,648 shares of company stock valued at $327,595. 5.70% of the stock is currently owned by insiders.

Ambarella Stock Down 2.6 %

NASDAQ:AMBA opened at $57.58 on Friday. Ambarella, Inc. has a twelve month low of $40.31 and a twelve month high of $89.18. The stock’s 50-day simple moving average is $47.97 and its 200 day simple moving average is $53.35. The firm has a market capitalization of $2.36 billion, a PE ratio of -13.52 and a beta of 1.63.

Wall Street Analysts Forecast Growth

AMBA has been the subject of several research reports. Bank of America decreased their price target on shares of Ambarella from $62.00 to $50.00 and set an “underperform” rating for the company in a research note on Tuesday, April 16th. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price target on shares of Ambarella in a research report on Wednesday, May 29th. Wells Fargo & Company decreased their price objective on Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a report on Friday, May 31st. Morgan Stanley increased their price objective on Ambarella from $57.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, May 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Ambarella in a research note on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $69.75.

Read Our Latest Analysis on Ambarella

Ambarella Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Ambarella (NASDAQ:AMBA)

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