Pitcairn Co. Buys 340 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Pitcairn Co. increased its stake in Ambarella, Inc. (NASDAQ:AMBA) by 6.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,839 shares of the semiconductor company’s stock after purchasing an additional 340 shares during the quarter. Pitcairn Co.’s holdings in Ambarella were worth $425,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Ambarella by 281.3% in the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after buying an additional 286,296 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Ambarella by 345.2% in the 4th quarter. Alliancebernstein L.P. now owns 189,235 shares of the semiconductor company’s stock worth $13,765,000 after acquiring an additional 146,729 shares during the period. Vanguard Group Inc. lifted its position in Ambarella by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 4,696,124 shares of the semiconductor company’s stock worth $341,596,000 after acquiring an additional 81,557 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Ambarella by 34.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 305,395 shares of the semiconductor company’s stock valued at $22,214,000 after acquiring an additional 78,893 shares during the period. Finally, Lord Abbett & CO. LLC bought a new stake in Ambarella during the third quarter valued at about $3,905,000. Institutional investors own 82.09% of the company’s stock.

Wall Street Analyst Weigh In

AMBA has been the subject of several research analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Ambarella in a research report on Thursday, February 27th. Susquehanna upped their price target on Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, January 22nd. StockNews.com upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Bank of America upgraded shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a research note on Monday, December 16th. Finally, Needham & Company LLC increased 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. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Ambarella presently has a consensus rating of “Moderate Buy” and an average target price of $86.67.

Ambarella Stock Down 7.4 %

NASDAQ:AMBA opened at $41.94 on Friday. The firm has a market capitalization of $1.75 billion, a PE ratio of -10.87 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 firm has a 50-day moving average price of $64.15 and a 200 day moving average price of $65.20.

Insider Transactions at Ambarella

In other news, CFO John Alexander Young sold 2,103 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $115,707.06. Following the sale, the chief financial officer now owns 113,886 shares in the company, valued at approximately $6,266,007.72. The trade was a 1.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Leslie Kohn sold 1,584 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $87,151.68. Following the sale, the chief technology officer now owns 981,392 shares of the company’s stock, valued at $53,996,187.84. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,328 shares of company stock valued at $889,617. 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.