Ambarella, Inc. (NASDAQ:AMBA) Sees Significant Decline in Short Interest

by · The Cerbat Gem

Ambarella, Inc. (NASDAQ:AMBA – Get Free Report) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 1,430,000 shares, a drop of 7.1% from the November 30th total of 1,540,000 shares. Based on an average daily volume of 569,200 shares, the days-to-cover ratio is presently 2.5 days.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Rosenblatt Securities restated a “buy” rating and set a $100.00 price target on shares of Ambarella in a research report on Friday, December 6th. StockNews.com cut Ambarella from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Craig Hallum upped their target price on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Morgan Stanley lifted their price target on Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Finally, Susquehanna upped their price objective on Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.17.

View Our Latest Stock Analysis on AMBA

Ambarella Stock Up 1.4 %

NASDAQ:AMBA opened at $72.74 on Wednesday. The stock has a fifty day simple moving average of $66.09 and a 200 day simple moving average of $58.39. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -18.84 and a beta of 1.68. Ambarella has a 1-year low of $39.69 and a 1-year high of $81.32.

Insider Buying and Selling at Ambarella

In related news, VP Chi-Hong Ju sold 5,118 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $75.71, for a total value of $387,483.78. Following the sale, the vice president now directly owns 158,686 shares in the company, valued at $12,014,117.06. This trade represents a 3.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 1,500 shares of Ambarella stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $73.80, for a total value of $110,700.00. Following the sale, the director now directly owns 40,781 shares in the company, valued at $3,009,637.80. The trade was a 3.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,518 shares of company stock valued at $1,640,327 in the last ninety days. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in shares of Ambarella in the 2nd quarter valued at approximately $26,000. Blue Trust Inc. raised its stake in Ambarella by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 321 shares during the period. Signaturefd LLC lifted its holdings in shares of Ambarella by 389.6% in the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 526 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Ambarella by 6,014.3% in the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after buying an additional 842 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in shares of Ambarella in the third quarter worth $69,000. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Ambarella Company Profile

(Get Free Report)

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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