First Trust Advisors LP Has $9.34 Million Stock Position in Ambarella, Inc. (NASDAQ:AMBA)

First Trust Advisors LP lowered its stake in Ambarella, Inc. (NASDAQ:AMBA) by 4.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 128,458 shares of the semiconductor company’s stock after selling 6,488 shares during the period. First Trust Advisors LP owned approximately 0.31% of Ambarella worth $9,344,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of AMBA. Barclays PLC grew its stake in Ambarella by 281.3% in the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock valued at $21,891,000 after buying an additional 286,296 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Ambarella in the 3rd quarter valued at about $3,905,000. FNY Investment Advisers LLC grew its stake in Ambarella by 52.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,248 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 770 shares during the last quarter. Heritage Family Offices LLP acquired a new position in Ambarella in the 4th quarter valued at about $213,000. Finally, Tributary Capital Management LLC grew its stake in Ambarella by 15.4% in the 4th quarter. Tributary Capital Management LLC now owns 287,565 shares of the semiconductor company’s stock valued at $20,917,000 after buying an additional 38,380 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of Ambarella in a research report on Thursday, February 27th. Needham & Company LLC increased 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. Susquehanna increased their target price on shares of Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. Stifel Nicolaus decreased their target price on shares of Ambarella from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Finally, StockNews.com upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ambarella currently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Ambarella Price Performance

Shares of NASDAQ:AMBA opened at $47.29 on Tuesday. The company has a market cap of $2.01 billion, a price-to-earnings ratio of -12.25 and a beta of 1.86. The firm has a 50 day simple moving average of $52.32 and a 200 day simple moving average of $63.68. Ambarella, Inc. has a one year low of $38.86 and a one year high of $85.15.

Insider Activity at Ambarella

In related news, VP Christopher Day sold 479 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $26,354.58. Following the completion of the sale, the vice president now directly owns 15,441 shares in the company, valued at $849,563.82. This represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Feng-Ming Wang sold 3,194 shares of Ambarella stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $175,733.88. Following the transaction, the chief executive officer now directly owns 798,311 shares in the company, valued at $43,923,071.22. The trade was a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,328 shares of company stock valued at $513,467 in the last quarter. Insiders own 5.70% of the company’s stock.

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.