William Blair Investment Management LLC Buys 68,044 Shares of Ambarella, Inc. (NASDAQ:AMBA)

William Blair Investment Management LLC raised its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 8.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 829,052 shares of the semiconductor company’s stock after purchasing an additional 68,044 shares during the period. William Blair Investment Management LLC owned 1.99% of Ambarella worth $60,305,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Arizona State Retirement System raised its position in shares of Ambarella by 1.4% during the 4th quarter. Arizona State Retirement System now owns 11,368 shares of the semiconductor company’s stock valued at $827,000 after buying an additional 156 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Ambarella by 68.7% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 184 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Ambarella by 24.2% during the 4th quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company’s stock valued at $70,000 after buying an additional 188 shares in the last quarter. Manchester Capital Management LLC raised its position in Ambarella by 21.8% in the 4th quarter. Manchester Capital Management LLC now owns 1,175 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 210 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Ambarella by 5.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,003 shares of the semiconductor company’s stock worth $364,000 after purchasing an additional 236 shares during the period. Institutional investors own 82.09% of the company’s stock.

Ambarella Trading Up 2.3 %

NASDAQ AMBA opened at $56.04 on Tuesday. The company has a fifty day simple moving average of $71.50 and a two-hundred day simple moving average of $65.51. The stock has a market cap of $2.34 billion, a P/E ratio of -14.52 and a beta of 1.78. Ambarella, Inc. has a 12-month low of $39.69 and a 12-month high of $85.15.

Insiders Place Their Bets

In other Ambarella news, COO Chan W. Lee sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $75.90, for a total value of $75,900.00. Following the completion of the transaction, the chief operating officer now owns 110,918 shares of the company’s stock, valued at approximately $8,418,676.20. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Christopher Day sold 929 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $75.40, for a total transaction of $70,046.60. Following the completion of the transaction, the vice president now directly owns 15,777 shares of the company’s stock, valued at approximately $1,189,585.80. This represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,929 shares of company stock valued at $672,389. Insiders own 5.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AMBA shares. Stifel Nicolaus increased their price objective on shares of Ambarella from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. StockNews.com upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Bank of America upgraded shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research note on Monday, December 16th. Morgan Stanley upped their target price on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Finally, Northland Securities restated an “outperform” rating and issued a $95.00 target price (up from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.67.

About Ambarella

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.