Mirae Asset Global Investments Co. Ltd. Trims Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Mirae Asset Global Investments Co. Ltd. lowered its holdings in Ambarella, Inc. (NASDAQ:AMBA) by 25.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,342 shares of the semiconductor company’s stock after selling 2,816 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ambarella were worth $422,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. KG&L Capital Management LLC acquired a new position in Ambarella during the first quarter worth about $212,000. FNY Investment Advisers LLC raised its holdings in Ambarella by 110.1% in the 1st quarter. FNY Investment Advisers LLC now owns 4,724 shares of the semiconductor company’s stock worth $237,000 after acquiring an additional 2,476 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Ambarella by 238.3% in the first quarter. Janney Montgomery Scott LLC now owns 13,474 shares of the semiconductor company’s stock worth $678,000 after acquiring an additional 9,491 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Ambarella by 34.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 381,872 shares of the semiconductor company’s stock worth $19,220,000 after acquiring an additional 97,911 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Ambarella in the first quarter worth about $922,000. Institutional investors own 82.09% of the company’s stock.

Ambarella Trading Up 1.7%

AMBA opened at $67.30 on Friday. The company’s fifty day moving average price is $57.28 and its two-hundred day moving average price is $61.57. The company has a market cap of $2.85 billion, a price-to-earnings ratio of -27.03 and a beta of 2.05. Ambarella, Inc. has a 1-year low of $38.86 and a 1-year high of $85.15.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMBA. Stifel Nicolaus lowered their price objective on shares of Ambarella from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Rosenblatt Securities increased their price objective on Ambarella from $87.00 to $95.00 and gave the company a “buy” rating in a report on Friday, May 30th. Summit Insights upgraded Ambarella to a “hold” rating in a report on Thursday, May 29th. Needham & Company LLC dropped their price target on Ambarella from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, May 30th. Finally, Morgan Stanley decreased their target price on shares of Ambarella from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 27th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.55.

Insider Activity at Ambarella

In other Ambarella news, Director Christopher B. Paisley sold 1,000 shares of the business’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $62.58, for a total value of $62,580.00. Following the sale, the director directly owned 39,281 shares in the company, valued at $2,458,204.98. The trade was a 2.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.30% of the company’s stock.

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.