McCollum Christoferson Group LLC Acquires New Position in Ambarella, Inc. (NASDAQ:AMBA)

McCollum Christoferson Group LLC bought a new position in Ambarella, Inc. (NASDAQ:AMBA) during the fourth quarter, Holdings Channel reports. The institutional investor bought 2,750 shares of the semiconductor company’s stock, valued at approximately $200,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Intech Investment Management LLC acquired a new stake in shares of Ambarella during the 3rd quarter worth approximately $722,000. Charles Schwab Investment Management Inc. grew its stake in Ambarella by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 320,319 shares of the semiconductor company’s stock worth $18,068,000 after buying an additional 3,700 shares during the last quarter. Algert Global LLC increased its position in Ambarella by 76.2% in the third quarter. Algert Global LLC now owns 94,999 shares of the semiconductor company’s stock worth $5,358,000 after buying an additional 41,094 shares during the period. Larson Financial Group LLC lifted its stake in Ambarella by 6,014.3% in the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 842 shares during the last quarter. Finally, Alpha DNA Investment Management LLC lifted its stake in Ambarella by 16.1% in the third quarter. Alpha DNA Investment Management LLC now owns 8,480 shares of the semiconductor company’s stock valued at $478,000 after buying an additional 1,175 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Ambarella news, COO Chan W. Lee sold 1,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $79.15, for a total value of $79,150.00. Following the transaction, the chief operating officer now owns 116,918 shares of the company’s stock, valued at approximately $9,254,059.70. This represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher Day sold 1,247 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $78.10, for a total value of $97,390.70. Following the sale, the vice president now directly owns 14,530 shares of the company’s stock, valued at approximately $1,134,793. This represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,575 shares of company stock worth $1,069,957. Corporate insiders own 5.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AMBA shares. Bank of America upgraded shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research report on Monday, December 16th. Needham & Company LLC upped their target price on shares of Ambarella from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Morgan Stanley lifted their price target on Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Northland Securities reissued an “outperform” rating and issued a $95.00 price objective (up from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Finally, StockNews.com raised Ambarella from a “sell” rating to a “hold” rating in a research note 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 presently has an average rating of “Moderate Buy” and a consensus target price of $86.67.

Ambarella Stock Down 0.7 %

Shares of AMBA stock opened at $54.26 on Monday. The stock has a 50-day simple moving average of $69.81 and a 200 day simple moving average of $65.43. The stock has a market capitalization of $2.26 billion, a P/E ratio of -14.06 and a beta of 1.78. Ambarella, Inc. has a fifty-two week low of $39.69 and a fifty-two week high of $85.15.

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.