Point72 Asia Singapore Pte. Ltd. Decreases Stock Position in Ambarella, Inc. (NASDAQ:AMBA)

Point72 Asia Singapore Pte. Ltd. trimmed its holdings in Ambarella, Inc. (NASDAQ:AMBA) by 29.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 900 shares of the semiconductor company’s stock after selling 368 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Ambarella were worth $51,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AMBA. Point72 Hong Kong Ltd purchased a new stake in shares of Ambarella in the third quarter valued at about $326,000. Verition Fund Management LLC raised its position in shares of Ambarella by 46.1% during the 3rd quarter. Verition Fund Management LLC now owns 22,894 shares of the semiconductor company’s stock worth $1,291,000 after purchasing an additional 7,219 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Ambarella by 7.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 666,286 shares of the semiconductor company’s stock valued at $37,582,000 after buying an additional 43,874 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ambarella by 26.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,545 shares of the semiconductor company’s stock valued at $426,000 after buying an additional 1,591 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in Ambarella by 23.2% during the third quarter. BNP Paribas Financial Markets now owns 41,310 shares of the semiconductor company’s stock worth $2,330,000 after buying an additional 7,783 shares in the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Ambarella Stock Up 3.4 %

Ambarella stock opened at $71.70 on Friday. The firm has a fifty day moving average of $60.84 and a 200-day moving average of $56.15. Ambarella, Inc. has a 52-week low of $39.69 and a 52-week high of $81.32. The firm has a market capitalization of $2.96 billion, a P/E ratio of -18.58 and a beta of 1.68.

Wall Street Analyst Weigh In

AMBA has been the topic of several recent research reports. StockNews.com upgraded Ambarella from a “sell” rating to a “hold” rating in a research report on Monday, December 2nd. Susquehanna raised their price objective on Ambarella from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Wednesday, November 27th. TD Cowen lifted their price objective on Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Bank of America increased their target price on Ambarella from $57.00 to $65.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Finally, Stifel Nicolaus lifted their price target on Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Ambarella currently has a consensus rating of “Moderate Buy” and an average price target of $82.92.

Insider Buying and Selling

In related news, COO Chan W. Lee sold 1,490 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $79,774.60. Following the transaction, the chief operating officer now directly owns 121,406 shares of the company’s stock, valued at approximately $6,500,077.24. The trade was a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Christopher Day sold 483 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $25,859.82. Following the completion of the transaction, the vice president now owns 21,370 shares of the company’s stock, valued at approximately $1,144,149.80. This represents a 2.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,356 shares of company stock valued at $859,210. Company insiders own 5.70% of the company’s stock.

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.