Ambarella, Inc. (NASDAQ:AMBA) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ambarella, Inc. (NASDAQ:AMBA) by 26.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,545 shares of the semiconductor company’s stock after acquiring an additional 1,591 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ambarella were worth $426,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in Ambarella by 23.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 41,310 shares of the semiconductor company’s stock valued at $2,330,000 after purchasing an additional 7,783 shares during the period. FMR LLC lifted its stake in 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. The Manufacturers Life Insurance Company boosted its holdings in shares of Ambarella by 4.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock valued at $76,332,000 after acquiring an additional 61,387 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of Ambarella during the third quarter valued at $1,530,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Ambarella in the 3rd quarter worth about $69,000. 82.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AMBA. Roth Mkm reissued a “neutral” rating and set a $60.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. Morgan Stanley boosted their price objective on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Westpark Capital restated a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. Bank of America boosted their price target on Ambarella from $57.00 to $65.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Finally, Susquehanna raised their price target on Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.92.

Insiders Place Their Bets

In other news, VP Christopher Day sold 1,278 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $71.61, for a total transaction of $91,517.58. Following the completion of the sale, the vice president now directly owns 17,188 shares of the company’s stock, valued at $1,230,832.68. This trade represents a 6.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Chan W. Lee sold 1,490 shares of Ambarella stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $79,774.60. Following the completion of the transaction, the chief operating officer now directly owns 121,406 shares in the company, valued at $6,500,077.24. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,356 shares of company stock worth $859,210. 5.70% of the stock is owned by insiders.

Ambarella Price Performance

NASDAQ AMBA opened at $71.70 on Friday. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $81.32. The company has a market capitalization of $2.96 billion, a P/E ratio of -18.58 and a beta of 1.68. The company’s 50 day simple moving average is $60.84 and its 200 day simple moving average is $56.15.

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.