Mitsubishi UFJ Asset Management Co. Ltd. Cuts Stock Position in Ambarella, Inc. (NASDAQ:AMBA)

Mitsubishi UFJ Asset Management Co. Ltd. decreased its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 12.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,611 shares of the semiconductor company’s stock after selling 15,136 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.26% of Ambarella worth $8,267,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AMBA. Skandinaviska Enskilda Banken AB publ raised its position in shares of Ambarella by 68.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 184 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Ambarella in the fourth quarter worth about $53,000. R Squared Ltd bought a new position in shares of Ambarella in the fourth quarter worth approximately $68,000. Pacer Advisors Inc. grew its holdings in shares of Ambarella by 24.2% during the fourth quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company’s stock valued at $70,000 after buying an additional 188 shares during the last quarter. Finally, Manchester Capital Management LLC grew its holdings in shares of Ambarella by 21.8% during the fourth quarter. Manchester Capital Management LLC now owns 1,175 shares of the semiconductor company’s stock valued at $85,000 after buying an additional 210 shares during the last quarter. 82.09% of the stock is owned by institutional investors.

Ambarella Price Performance

Shares of AMBA stock opened at $50.33 on Tuesday. Ambarella, Inc. has a one year low of $39.69 and a one year high of $85.15. The company’s fifty day moving average price is $66.90 and its 200-day moving average price is $65.46. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -13.04 and a beta of 1.78.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. StockNews.com raised Ambarella from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Bank of America raised Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research report on Monday, December 16th. Susquehanna boosted their target price on Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. Stifel Nicolaus upped their target price on shares of Ambarella from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of Ambarella in a research note on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Ambarella has an average rating of “Moderate Buy” and a consensus price target of $86.67.

Insiders Place Their Bets

In other Ambarella news, Director Christopher B. Paisley sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $55.50, for a total value of $27,750.00. Following the completion of the transaction, the director now directly owns 40,281 shares in the company, valued at $2,235,595.50. This represents a 1.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Chan W. Lee sold 1,000 shares of Ambarella stock in a transaction that occurred on Monday, January 6th. The shares were 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 approximately $9,254,059.70. The trade was a 0.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,575 shares of company stock worth $987,007. Corporate insiders own 5.70% of the company’s stock.

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.