Artemis Wealth Advisors LLC Takes Position in Ambarella, Inc. (NASDAQ:AMBA)

Artemis Wealth Advisors LLC purchased a new stake in shares of Ambarella, Inc. (NASDAQ:AMBA) during the fourth quarter, Holdings Channel.com reports. The fund purchased 20,000 shares of the semiconductor company’s stock, valued at approximately $1,455,000. Ambarella makes up about 0.3% of Artemis Wealth Advisors LLC’s investment portfolio, making the stock its 18th biggest holding.

A number of other institutional investors have also recently made changes to their positions in AMBA. State Street Corp lifted its holdings in Ambarella by 2.6% during the 3rd quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock worth $108,536,000 after purchasing an additional 47,856 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in 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 worth $76,332,000 after purchasing an additional 61,387 shares in the last quarter. Geode Capital Management LLC lifted 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 worth $51,719,000 after purchasing an additional 14,568 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Ambarella by 70.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock worth $48,626,000 after purchasing an additional 355,078 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Ambarella by 7.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 666,286 shares of the semiconductor company’s stock worth $37,582,000 after purchasing an additional 43,874 shares in the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Ambarella Trading Down 3.0 %

Shares of Ambarella stock opened at $75.84 on Tuesday. The business’s 50-day moving average price is $76.25 and its 200-day moving average price is $64.65. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $85.15.

Insider Activity

In other news, VP Christopher Day sold 1,278 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $71.61, for a total transaction of $91,517.58. Following the transaction, the vice president now directly owns 17,188 shares in the company, valued at approximately $1,230,832.68. This represents a 6.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Feng-Ming Wang sold 4,296 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $75.41, for a total value of $323,961.36. Following the transaction, the chief executive officer now owns 755,231 shares in the company, valued at approximately $56,951,969.71. The trade was a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,861 shares of company stock worth $1,945,436. 5.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Northland Securities reissued an “outperform” rating and set a $95.00 price objective (up previously from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Needham & Company LLC increased 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. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Ambarella in a report on Friday, December 6th. Morgan Stanley upped their target price on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Finally, StockNews.com lowered Ambarella from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.42.

Ambarella 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.