Cibc World Markets Corp Purchases New Position in Ambarella, Inc. (NASDAQ:AMBA)

Cibc World Markets Corp acquired a new position in shares of Ambarella, Inc. (NASDAQ:AMBA) during the 4th quarter, Holdings Channel.com reports. The firm acquired 3,545 shares of the semiconductor company’s stock, valued at approximately $258,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ grew its position in shares of Ambarella by 68.7% during the 4th 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. SBI Securities Co. Ltd. bought a new position in Ambarella during the 4th quarter worth about $53,000. Larson Financial Group LLC increased its position in Ambarella by 6,014.3% during the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 842 shares during the period. R Squared Ltd bought a new stake in shares of Ambarella in the 4th quarter valued at about $68,000. Finally, Pacer Advisors Inc. raised its stake in Ambarella by 24.2% in the fourth quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company’s stock worth $70,000 after buying an additional 188 shares in the last quarter. 82.09% of the stock is owned by institutional investors.

Ambarella Trading Up 0.3 %

Ambarella stock opened at $55.75 on Wednesday. The firm has a market cap of $2.32 billion, a PE ratio of -14.44 and a beta of 1.78. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $85.15. The stock’s 50 day simple moving average is $69.07 and its two-hundred day simple moving average is $65.46.

Insider Activity at Ambarella

In other news, Director Christopher B. Paisley sold 1,500 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $73.80, for a total transaction of $110,700.00. Following the sale, the director now directly owns 40,781 shares in the company, valued at $3,009,637.80. This trade represents a 3.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Chan W. Lee sold 1,000 shares of Ambarella stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $79.15, for a total value of $79,150.00. Following the completion of the transaction, the chief operating officer now owns 116,918 shares of the company’s stock, valued at approximately $9,254,059.70. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,575 shares of company stock worth $1,069,957 in the last three months. Company insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on AMBA shares. Northland Securities reissued an “outperform” rating and set a $95.00 price target (up from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Susquehanna upped their price target on shares of Ambarella from $95.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Needham & Company LLC boosted their price objective on shares of Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Stifel Nicolaus lifted their price target on Ambarella from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Bank of America raised Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a report on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.67.

Ambarella Company 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.