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

Ambarella, Inc. (NASDAQ:AMBA) was the recipient of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 1,350,000 shares, a decrease of 17.2% from the March 31st total of 1,630,000 shares. Currently, 3.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 868,700 shares, the short-interest ratio is presently 1.6 days.

Ambarella Stock Up 0.4 %

Shares of Ambarella stock opened at $48.16 on Friday. The company has a market cap of $2.04 billion, a PE ratio of -12.48 and a beta of 1.86. The business has a 50 day moving average of $50.48 and a 200 day moving average of $63.37. Ambarella has a 52 week low of $38.86 and a 52 week high of $85.15.

Insider Transactions at Ambarella

In other news, VP Christopher Day sold 479 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $26,354.58. Following the transaction, the vice president now directly owns 15,441 shares in the company, valued at approximately $849,563.82. This represents a 3.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher B. Paisley sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $55.50, for a total value of $27,750.00. Following the completion of the sale, the director now owns 40,281 shares of the company’s stock, valued at $2,235,595.50. The trade was a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,328 shares of company stock valued at $513,467 in the last quarter. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Institutional investors and hedge funds have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ raised its stake in Ambarella by 68.7% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company’s stock worth $32,000 after buying an additional 184 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Ambarella in the 4th quarter worth approximately $37,000. Sterling Capital Management LLC lifted its stake in shares of Ambarella by 629.3% in the 4th quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 516 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Ambarella during the fourth quarter valued at approximately $53,000. Finally, Johnson Financial Group Inc. purchased a new stake in Ambarella in the fourth quarter worth $71,000. 82.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Susquehanna boosted their price target 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. 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. StockNews.com upgraded Ambarella from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Stifel Nicolaus decreased their price target on Ambarella from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, Needham & Company LLC boosted their price objective on Ambarella from $100.00 to $110.00 and gave the company a “buy” rating 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. According to data from MarketBeat, Ambarella has an average rating of “Moderate Buy” and a consensus 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.