Connor Clark & Lunn Investment Management Ltd. Buys 78,893 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Ambarella, Inc. (NASDAQ:AMBA) by 34.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 305,395 shares of the semiconductor company’s stock after purchasing an additional 78,893 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ambarella were worth $22,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AMBA. SBI Securities Co. Ltd. bought a new stake in Ambarella during the 4th quarter valued at approximately $53,000. Larson Financial Group LLC raised its stake 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 Ambarella during the 4th quarter valued at approximately $68,000. Pacer Advisors Inc. raised its stake in Ambarella by 24.2% during the 4th quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company’s stock valued at $70,000 after purchasing an additional 188 shares during the period. Finally, Manchester Capital Management LLC raised its stake in Ambarella by 21.8% during the 4th quarter. Manchester Capital Management LLC now owns 1,175 shares of the semiconductor company’s stock valued at $85,000 after purchasing an additional 210 shares during the period. Institutional investors own 82.09% of the company’s stock.

Insider Transactions at Ambarella

In related news, VP Christopher Day sold 1,247 shares of the business’s stock in a transaction on 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 owns 14,530 shares in the company, valued at $1,134,793. The trade was a 7.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Chan W. Lee sold 1,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $73.48, for a total value of $73,480.00. Following the transaction, the chief operating officer now owns 114,918 shares of the company’s stock, valued at approximately $8,444,174.64. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,088 shares of company stock worth $1,438,480. 5.70% of the stock is currently owned by company insiders.

Ambarella Stock Performance

Shares of Ambarella stock opened at $52.20 on Friday. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -13.52 and a beta of 1.78. The stock has a 50 day moving average price of $72.40 and a 200-day moving average price of $65.37. Ambarella, Inc. has a one year low of $39.69 and a one year high of $85.15.

Wall Street Analyst Weigh In

AMBA has been the topic of several recent analyst reports. Susquehanna lifted their target price on Ambarella from $95.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Morgan Stanley lifted their price objective on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Northland Securities reaffirmed an “outperform” rating and issued a $95.00 price objective (up previously from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Needham & Company LLC lifted their price objective on Ambarella from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, StockNews.com raised Ambarella from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ambarella currently has an average rating of “Moderate Buy” and a consensus target price of $86.67.

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.