By otakuyassine3@gmail.com 
Ambarella, Inc. (NASDAQ:AMBA – Get Free Report) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 1,540,000 shares, an increase of 7.7% from the November 15th total of 1,430,000 shares. Based on an average daily volume of 548,300 shares, the days-to-cover ratio is presently 2.8 days.
Ambarella Price Performance
Ambarella stock opened at $72.53 on Monday. The firm’s 50 day moving average price is $62.53 and its 200-day moving average price is $57.01. Ambarella has a 1 year low of $39.69 and a 1 year high of $81.32. The stock has a market cap of $3.02 billion, a P/E ratio of -18.79 and a beta of 1.68.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the stock. Westpark Capital reiterated a “buy” rating and set a $85.00 target price on shares of Ambarella in a report on Monday, August 26th. Roth Mkm reissued a “neutral” rating and set a $60.00 price objective on shares of Ambarella in a report on Wednesday, August 28th. Morgan Stanley lifted their target price on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Needham & Company LLC lifted their price objective on Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Stifel Nicolaus boosted their price target on Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.17.
View Our Latest Report on AMBA
Insider Activity
In related news, VP Chi-Hong Ju sold 5,118 shares of Ambarella stock in a transaction on Monday, December 9th. The shares were sold at an average price of $75.71, for a total value of $387,483.78. Following the sale, the vice president now owns 158,686 shares in the company, valued at $12,014,117.06. The trade was a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Feng-Ming Wang sold 4,301 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $230,275.54. Following the completion of the sale, the chief executive officer now directly owns 799,527 shares of the company’s stock, valued at approximately $42,806,675.58. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,234 shares of company stock valued at $1,233,935. 5.70% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp increased its stake in Ambarella by 2.6% during the third quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock worth $108,536,000 after acquiring an additional 47,856 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Ambarella by 7.0% in the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock worth $78,091,000 after purchasing an additional 94,257 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Ambarella by 4.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock valued at $76,332,000 after purchasing an additional 61,387 shares during the last quarter. Geode Capital Management LLC raised its holdings in Ambarella by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock valued at $51,719,000 after buying an additional 14,568 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in Ambarella by 70.0% in the third quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock worth $48,626,000 after buying an additional 355,078 shares during the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.
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.
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