Geode Capital Management LLC increased its stake in Ambarella Inc (NASDAQ:AMBA) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,075 shares of the semiconductor company’s stock after acquiring an additional 1,735 shares during the period. Geode Capital Management LLC owned about 0.26% of Ambarella worth $5,174,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in shares of Ambarella by 13.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 8,506 shares of the semiconductor company’s stock valued at $417,000 after acquiring an additional 1,033 shares during the last quarter. San Francisco Sentry Investment Group CA raised its position in Ambarella by 692.7% during the 4th quarter. San Francisco Sentry Investment Group CA now owns 8,125 shares of the semiconductor company’s stock valued at $477,000 after purchasing an additional 7,100 shares during the last quarter. First Trust Advisors LP bought a new position in Ambarella during the 4th quarter valued at approximately $543,000. Legal & General Group Plc raised its position in Ambarella by 21.7% during the 3rd quarter. Legal & General Group Plc now owns 13,538 shares of the semiconductor company’s stock valued at $663,000 after purchasing an additional 2,411 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new position in Ambarella during the 4th quarter valued at approximately $675,000. 69.87% of the stock is owned by institutional investors.
AMBA stock opened at $51.33 on Wednesday. Ambarella Inc has a fifty-two week low of $40.06 and a fifty-two week high of $66.23. The company has a market cap of $1,735.27, a price-to-earnings ratio of 93.33, a PEG ratio of 15.70 and a beta of 1.23.
A number of research firms have commented on AMBA. BidaskClub raised Ambarella from a “strong sell” rating to a “sell” rating in a research report on Friday, April 13th. ValuEngine raised Ambarella from a “hold” rating to a “buy” rating in a research report on Thursday, April 12th. Zacks Investment Research lowered Ambarella from a “hold” rating to a “sell” rating in a research report on Thursday, March 8th. Oppenheimer raised Ambarella from a “market perform” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Wednesday, January 3rd. Finally, UBS raised Ambarella from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $60.83.
In other Ambarella news, CEO Feng-Ming Wang sold 6,024 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $53.07, for a total transaction of $319,693.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christopher B. Paisley sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $54.87, for a total value of $54,870.00. Following the transaction, the director now owns 15,302 shares in the company, valued at approximately $839,620.74. The disclosure for this sale can be found here. Insiders have sold a total of 13,882 shares of company stock worth $738,518 in the last quarter. Company insiders own 5.80% of the company’s stock.
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Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD) video capture, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.
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