Cornerstone Investment Partners LLC Takes Position in Ambarella, Inc. (NASDAQ:AMBA)

Cornerstone Investment Partners LLC bought a new stake in shares of Ambarella, Inc. (NASDAQ:AMBA) in the fourth quarter, Holdings Channel reports. The institutional investor bought 3,278 shares of the semiconductor company’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in Ambarella in the fourth quarter worth $53,000. Larson Financial Group LLC lifted its position in Ambarella by 6,014.3% in the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after buying an additional 842 shares during the last quarter. R Squared Ltd bought a new stake in Ambarella in the fourth quarter worth $68,000. Pacer Advisors Inc. lifted its position in Ambarella by 24.2% in the fourth 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 last quarter. Finally, Manchester Capital Management LLC lifted its position in Ambarella by 21.8% in the fourth quarter. Manchester Capital Management LLC now owns 1,175 shares of the semiconductor company’s stock worth $85,000 after buying an additional 210 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors.

Insider Activity at Ambarella

In related news, VP Chi-Hong Ju sold 5,118 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $75.71, for a total transaction of $387,483.78. Following the sale, the vice president now owns 158,686 shares of the company’s stock, valued at $12,014,117.06. This trade represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Hsiao-Wuen Hon sold 377 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $74.15, for a total value of $27,954.55. Following the sale, the director now directly owns 28,278 shares in the company, valued at approximately $2,096,813.70. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,583 shares of company stock valued at $1,853,918 over the last quarter. 5.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMBA. Craig Hallum raised their price target on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Needham & Company LLC raised their price target on Ambarella from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. StockNews.com upgraded Ambarella from a “sell” rating to a “hold” rating in a research note on Friday. Northland Securities reiterated an “outperform” rating and issued a $95.00 target price (up previously from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Finally, Morgan Stanley increased 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. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $86.67.

Ambarella Trading Down 7.5 %

Shares of Ambarella stock opened at $56.81 on Tuesday. The firm has a market cap of $2.37 billion, a P/E ratio of -14.72 and a beta of 1.66. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $85.15. The stock’s fifty day moving average price is $75.74 and its 200-day moving average price is $65.39.

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.