New York State Common Retirement Fund Grows Stock Position in Ambarella, Inc. (NASDAQ:AMBA)

New York State Common Retirement Fund lifted its stake in Ambarella, Inc. (NASDAQ:AMBA) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,803 shares of the semiconductor company’s stock after buying an additional 478 shares during the period. New York State Common Retirement Fund’s holdings in Ambarella were worth $644,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AMBA. Commonwealth Equity Services LLC increased its holdings in shares of Ambarella by 32.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 6,783 shares of the semiconductor company’s stock worth $493,000 after buying an additional 1,669 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Ambarella in the fourth quarter worth about $214,000. Xponance Inc. purchased a new position in shares of Ambarella in the fourth quarter worth about $256,000. Sei Investments Co. grew its stake in shares of Ambarella by 17.6% in the fourth quarter. Sei Investments Co. now owns 10,959 shares of the semiconductor company’s stock worth $797,000 after purchasing an additional 1,639 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Ambarella in the fourth quarter worth about $582,000. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Insider Activity

In other news, Director Christopher B. Paisley sold 1,000 shares of Ambarella stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $62.58, for a total transaction of $62,580.00. Following the completion of the transaction, the director directly owned 39,281 shares in the company, valued at approximately $2,458,204.98. This trade represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

AMBA has been the topic of several recent analyst reports. Summit Insights raised Ambarella to a “hold” rating in a research note on Thursday, May 29th. Susquehanna raised their target price on Ambarella from $80.00 to $90.00 and gave the stock a “positive” rating in a research note on Tuesday. Morgan Stanley cut their target price on Ambarella from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 27th. Needham & Company LLC cut their target price on Ambarella from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, May 30th. Finally, Stifel Nicolaus cut their target price on Ambarella from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.64.

Ambarella Stock Performance

Ambarella stock opened at $67.32 on Friday. The stock’s 50 day simple moving average is $61.50 and its two-hundred day simple moving average is $61.05. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -27.04 and a beta of 2.05. Ambarella, Inc. has a fifty-two week low of $38.86 and a fifty-two week high of $85.15.

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.