Connor Clark & Lunn Investment Management Ltd. Purchases 78,893 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Connor Clark & Lunn Investment Management Ltd. boosted its position in Ambarella, Inc. (NASDAQ:AMBA) by 34.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 305,395 shares of the semiconductor company’s stock after purchasing an additional 78,893 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.73% of Ambarella worth $22,214,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AMBA. Point72 Asset Management L.P. raised its holdings in Ambarella by 70.0% in the third quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock worth $48,626,000 after purchasing an additional 355,078 shares in the last quarter. Barclays PLC raised its holdings in Ambarella by 281.3% in the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after purchasing an additional 286,296 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in Ambarella in the third quarter worth $3,905,000. The Manufacturers Life Insurance Company raised its holdings in Ambarella by 4.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock worth $76,332,000 after purchasing an additional 61,387 shares in the last quarter. Finally, State Street Corp raised its holdings in Ambarella by 2.6% in the third quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock worth $108,536,000 after purchasing an additional 47,856 shares in the last quarter. Institutional investors own 82.09% of the company’s stock.

Ambarella Stock Performance

Shares of NASDAQ:AMBA opened at $52.20 on Friday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -13.52 and a beta of 1.78. The stock’s 50-day simple moving average is $72.40 and its two-hundred day simple moving average is $65.37. Ambarella, Inc. has a 52-week low of $39.69 and a 52-week high of $85.15.

Insiders Place Their Bets

In other Ambarella news, VP Christopher Day sold 482 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $75.41, for a total value of $36,347.62. Following the transaction, the vice president now directly owns 16,706 shares of the company’s stock, valued at approximately $1,259,799.46. This trade represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Chan W. Lee sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $73.48, for a total value of $73,480.00. Following the completion of the transaction, the chief operating officer now directly owns 114,918 shares in the company, valued at $8,444,174.64. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,088 shares of company stock valued at $1,438,480. Insiders own 5.70% of the company’s stock.

Wall Street Analyst Weigh In

AMBA has been the topic of a number of recent research reports. Craig Hallum increased their target price on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. StockNews.com raised Ambarella from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 target price on shares of Ambarella in a research note on Thursday, February 27th. Stifel Nicolaus increased their price objective on Ambarella from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Susquehanna increased their price objective on Ambarella from $95.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.67.

Ambarella 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.