Thrivent Financial for Lutherans Decreases Position in Ambarella, Inc. (NASDAQ:AMBA)

Thrivent Financial for Lutherans trimmed its position in Ambarella, Inc. (NASDAQ:AMBA) by 28.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 21,532 shares of the semiconductor company’s stock after selling 8,759 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ambarella were worth $1,566,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its position in shares of Ambarella by 70.0% in the third quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock valued at $48,626,000 after acquiring an additional 355,078 shares in the last quarter. Barclays PLC raised its stake in Ambarella by 281.3% in the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock valued at $21,891,000 after purchasing an additional 286,296 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Ambarella by 34.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 305,395 shares of the semiconductor company’s stock valued at $22,214,000 after purchasing an additional 78,893 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Ambarella during the 3rd quarter worth $3,905,000. Finally, William Blair Investment Management LLC grew its holdings in shares of Ambarella by 8.9% during the fourth quarter. William Blair Investment Management LLC now owns 829,052 shares of the semiconductor company’s stock worth $60,305,000 after buying an additional 68,044 shares in the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Ambarella Trading Down 3.9 %

NASDAQ AMBA opened at $50.61 on Monday. The stock has a fifty day simple moving average of $67.51 and a 200-day simple moving average of $65.48. The stock has a market cap of $2.11 billion, a PE ratio of -13.11 and a beta of 1.78. Ambarella, Inc. has a twelve month low of $39.69 and a twelve month high of $85.15.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMBA. Stifel Nicolaus raised their price target on shares of Ambarella from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price objective on shares of Ambarella in a report on Thursday, February 27th. Bank of America upgraded Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a report on Monday, December 16th. Needham & Company LLC increased their price target on Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, StockNews.com upgraded Ambarella from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.67.

Insider Buying and Selling at Ambarella

In related news, VP Christopher Day sold 1,247 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $78.10, for a total transaction of $97,390.70. Following the completion of the transaction, the vice president now directly owns 14,530 shares in the company, valued at $1,134,793. This trade represents a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Chan W. Lee sold 1,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $79.15, for a total transaction of $79,150.00. Following the sale, the chief operating officer now owns 116,918 shares in the company, valued at $9,254,059.70. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,575 shares of company stock valued at $987,007 over the last 90 days. 5.70% of the stock is owned by insiders.

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.