Short Interest in Ambarella, Inc. (NASDAQ:AMBA) Rises By 19.0%

Ambarella, Inc. (NASDAQ:AMBA) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 1,630,000 shares, a growth of 19.0% from the March 15th total of 1,370,000 shares. Approximately 4.1% of the company’s shares are short sold. Based on an average daily volume of 866,700 shares, the days-to-cover ratio is currently 1.9 days.

Ambarella Stock Performance

NASDAQ AMBA opened at $41.46 on Tuesday. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -10.74 and a beta of 1.86. Ambarella has a 52 week low of $38.86 and a 52 week high of $85.15. The stock’s 50 day moving average price is $55.75 and its two-hundred day moving average price is $64.13.

Insider Activity

In other news, COO Chan W. Lee sold 1,468 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $80,769.36. Following the transaction, the chief operating officer now owns 130,297 shares of the company’s stock, valued at $7,168,940.94. This represents a 1.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher Day sold 479 shares of Ambarella stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $26,354.58. Following the sale, the vice president now directly owns 15,441 shares of the company’s stock, valued at approximately $849,563.82. This trade represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,328 shares of company stock valued at $513,467. 5.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ increased its stake in Ambarella by 68.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 184 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Ambarella in the fourth quarter valued at about $37,000. Sterling Capital Management LLC increased its position in shares of Ambarella by 629.3% in the fourth quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 516 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Ambarella during the fourth quarter worth about $53,000. Finally, R Squared Ltd acquired a new position in Ambarella during the fourth quarter valued at approximately $68,000. Institutional investors and hedge funds own 82.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Susquehanna upped their price target on Ambarella from $95.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Needham & Company LLC increased their target price on shares of Ambarella from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Stifel Nicolaus decreased their price target on shares of Ambarella from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, April 17th. StockNews.com raised Ambarella from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $100.00 target price on shares of Ambarella in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Ambarella currently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

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.