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

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

Wall Street Analyst Weigh In

Several brokerages recently commented on AMBA. Stifel Nicolaus raised their price objective on shares of Ambarella from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. StockNews.com upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Needham & Company LLC upped their price target on Ambarella from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Susquehanna raised their price objective on Ambarella from $95.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $100.00 target price on shares of Ambarella in a research report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ambarella currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.67.

Insider Buying and Selling at Ambarella

In other Ambarella news, Director Christopher B. Paisley sold 500 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $55.50, for a total value of $27,750.00. Following the completion of the sale, the director now owns 40,281 shares of the company’s stock, valued at approximately $2,235,595.50. This trade represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher Day sold 479 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $26,354.58. Following the sale, the vice president now owns 15,441 shares in the company, valued at $849,563.82. The trade was a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,575 shares of company stock valued at $987,007. 5.70% of the stock is owned by corporate insiders.

Institutional Trading of Ambarella

Large investors have recently made changes to their positions in the stock. Tributary Capital Management LLC lifted its holdings 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 purchasing an additional 38,380 shares in the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of Ambarella during the fourth quarter worth about $553,000. FMR LLC raised its position in shares of Ambarella by 185.4% in the third quarter. FMR LLC now owns 17,102 shares of the semiconductor company’s stock valued at $965,000 after buying an additional 11,110 shares during the last quarter. Artemis Wealth Advisors LLC purchased a new position in shares of Ambarella during the fourth quarter valued at approximately $1,455,000. Finally, Larson Financial Group LLC lifted its stake in shares of Ambarella by 6,014.3% during the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 842 shares during the period. Institutional investors and hedge funds own 82.09% of the company’s stock.

Ambarella Stock Performance

Ambarella stock opened at $50.61 on Monday. Ambarella has a fifty-two week low of $39.69 and a fifty-two week high of $85.15. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -13.11 and a beta of 1.78. The stock has a fifty day moving average of $67.51 and a two-hundred day moving average of $65.48.

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.