Ambarella, Inc. (NASDAQ:AMBA) Short Interest Down 29.7% in March

Ambarella, Inc. (NASDAQ:AMBA) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 1,370,000 shares, a drop 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 presently 1.7 days. Currently, 3.5% of the shares of the stock are sold short.

Insiders Place Their Bets

In related news, VP Christopher Day sold 479 shares of Ambarella 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 completion of the sale, the vice president now owns 15,441 shares of the company’s stock, valued at approximately $849,563.82. This trade represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John Alexander Young sold 2,103 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $115,707.06. Following the completion of the transaction, the chief financial officer now owns 113,886 shares in the company, valued at $6,266,007.72. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,575 shares of company stock worth $987,007 in the last quarter. 5.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ambarella

A number of large investors have recently bought and sold shares of AMBA. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Ambarella in the fourth quarter valued at about $52,770,000. Point72 Asset Management L.P. increased 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 valued at $48,626,000 after purchasing an additional 355,078 shares during the period. Invesco Ltd. increased its holdings in Ambarella by 736.7% during the 4th quarter. Invesco Ltd. now owns 335,730 shares of the semiconductor company’s stock valued at $24,421,000 after purchasing an additional 295,606 shares during the period. Barclays PLC raised its position in Ambarella by 281.3% during the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock valued at $21,891,000 after purchasing an additional 286,296 shares during the last quarter. Finally, Woodline Partners LP lifted its holdings in Ambarella by 2,367.1% in the 4th quarter. Woodline Partners LP now owns 263,333 shares of the semiconductor company’s stock worth $19,155,000 after buying an additional 252,659 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on AMBA shares. Bank of America upgraded shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research report on Monday, December 16th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of Ambarella in a report on Thursday, February 27th. Needham & Company LLC lifted their price objective on shares of Ambarella from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Stifel Nicolaus increased their target price on Ambarella from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Susquehanna lifted their price target on Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. 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, Ambarella presently has a consensus rating of “Moderate Buy” and an average price target of $86.67.

Ambarella Trading Down 0.6 %

AMBA opened at $50.33 on Tuesday. Ambarella has a 12 month low of $39.69 and a 12 month high of $85.15. The business’s 50-day moving average price is $66.90 and its 200-day moving average price is $65.46. The company has a market cap of $2.10 billion, a P/E ratio of -13.04 and a beta of 1.78.

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.