Short Interest in Ambarella, Inc. (NASDAQ:AMBA) Drops By 29.7%

Ambarella, Inc. (NASDAQ:AMBA) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 1,370,000 shares, a decrease of 29.7% from the February 28th total of 1,950,000 shares. Based on an average daily volume of 824,600 shares, the days-to-cover ratio is currently 1.7 days. Currently, 3.5% of the company’s shares are short sold.

Ambarella Stock Performance

AMBA opened at $50.33 on Tuesday. Ambarella has a fifty-two week low of $39.69 and a fifty-two week high of $85.15. The firm has a 50-day moving average of $66.90 and a 200 day moving average of $65.46. The firm has a market cap of $2.10 billion, a P/E ratio of -13.04 and a beta of 1.78.

Analyst Ratings Changes

AMBA has been the subject of several recent research reports. StockNews.com raised shares of Ambarella from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Stifel Nicolaus boosted their price objective on Ambarella from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and issued a $100.00 target price on shares of Ambarella in a report on Thursday, February 27th. Susquehanna upped their price target on Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, January 22nd. Finally, Needham & Company LLC increased their price target on Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $86.67.

Insider Activity

In related news, Director Christopher B. Paisley sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $55.50, for a total transaction of $27,750.00. Following the transaction, the director now directly owns 40,281 shares of the company’s stock, valued at approximately $2,235,595.50. This represents a 1.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Feng-Ming Wang sold 3,194 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $175,733.88. Following the completion of the transaction, the chief executive officer now owns 798,311 shares in the company, valued at approximately $43,923,071.22. The trade was a 0.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,575 shares of company stock valued at $987,007. 5.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System grew its stake 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 worth $827,000 after acquiring an additional 156 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of Ambarella by 4.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,964 shares of the semiconductor company’s stock valued at $288,000 after buying an additional 161 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in Ambarella by 68.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company’s stock worth $32,000 after buying an additional 184 shares during the period. Pacer Advisors Inc. boosted its holdings in Ambarella by 24.2% in the 4th quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company’s stock worth $70,000 after buying an additional 188 shares during the period. Finally, Mackenzie Financial Corp grew its stake in Ambarella by 3.2% in the 4th quarter. Mackenzie Financial Corp now owns 6,406 shares of the semiconductor company’s stock valued at $466,000 after buying an additional 201 shares in the last quarter. 82.09% of the stock is currently 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.