Proficio Capital Partners LLC Makes New Investment in Ambarella, Inc. (NASDAQ:AMBA)

Proficio Capital Partners LLC purchased a new position in shares of Ambarella, Inc. (NASDAQ:AMBA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,184 shares of the semiconductor company’s stock, valued at approximately $1,032,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. raised its holdings in shares of Ambarella by 70.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock worth $48,626,000 after purchasing an additional 355,078 shares in the last quarter. Barclays PLC raised its holdings in shares of Ambarella by 281.3% in the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after purchasing an additional 286,296 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Ambarella in the 3rd quarter worth approximately $3,905,000. The Manufacturers Life Insurance Company raised its holdings in shares of Ambarella by 4.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock worth $76,332,000 after purchasing an additional 61,387 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Ambarella by 2.6% in the 3rd quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock worth $108,536,000 after purchasing an additional 47,856 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors.

Ambarella Stock Performance

Shares of AMBA opened at $54.26 on Friday. The company’s 50 day moving average price is $69.81 and its 200 day moving average price is $65.29. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $85.15. The company has a market capitalization of $2.26 billion, a PE ratio of -14.06 and a beta of 1.78.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Morgan Stanley boosted their target price on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. StockNews.com upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Needham & Company LLC boosted their price target on shares of Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Craig Hallum boosted their price target on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Rosenblatt Securities restated a “buy” rating and set a $100.00 price target on shares of Ambarella in a report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $86.67.

Insiders Place Their Bets

In other Ambarella news, CEO Feng-Ming Wang sold 3,194 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $175,733.88. Following the completion of the sale, the chief executive officer now directly owns 798,311 shares of the company’s stock, valued at $43,923,071.22. The trade was a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John Alexander Young sold 2,103 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $115,707.06. Following the completion of the sale, the chief financial officer now directly owns 113,886 shares of the company’s stock, valued at $6,266,007.72. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,575 shares of company stock valued at $1,069,957 over the last ninety days. Corporate insiders own 5.70% of the company’s stock.

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.