PNC Financial Services Group Inc. Increases Stock Holdings in Ambarella, Inc. $AMBA

PNC Financial Services Group Inc. boosted its position in Ambarella, Inc. (NASDAQ:AMBA) by 133.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,317 shares of the semiconductor company’s stock after purchasing an additional 2,464 shares during the period. PNC Financial Services Group Inc.’s holdings in Ambarella were worth $217,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC grew its position in Ambarella by 629.3% in the fourth quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 516 shares in the last quarter. Larson Financial Group LLC grew its position in Ambarella by 111.9% in the first quarter. Larson Financial Group LLC now owns 1,195 shares of the semiconductor company’s stock worth $60,000 after acquiring an additional 631 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in Ambarella in the fourth quarter worth about $71,000. Tower Research Capital LLC TRC grew its position in Ambarella by 300.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,124 shares of the semiconductor company’s stock worth $82,000 after acquiring an additional 843 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its position in Ambarella by 452.4% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 2,497 shares of the semiconductor company’s stock worth $126,000 after acquiring an additional 2,045 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Needham & Company LLC decreased their price objective on shares of Ambarella from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, May 30th. Rosenblatt Securities raised their price objective on shares of Ambarella from $87.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Summit Insights raised shares of Ambarella to a “hold” rating in a research note on Thursday, May 29th. Morgan Stanley decreased their price objective on shares of Ambarella from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, May 27th. Finally, Susquehanna raised their price objective on shares of Ambarella from $80.00 to $90.00 and gave the stock a “positive” rating in a research note on Tuesday, July 22nd. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.64.

Insider Buying and Selling at Ambarella

In other news, Director Christopher B. Paisley sold 1,000 shares of the business’s stock in a transaction 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 sale, the director directly owned 39,281 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this hyperlink. 5.70% of the stock is owned by company insiders.

Ambarella Trading Down 2.3%

NASDAQ AMBA opened at $66.99 on Monday. The firm has a market capitalization of $2.84 billion, a P/E ratio of -26.90 and a beta of 2.08. Ambarella, Inc. has a 12-month low of $38.86 and a 12-month high of $85.15. The firm’s fifty day simple moving average is $63.67 and its two-hundred day simple moving average is $59.61.

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.