Ambarella, Inc. (NASDAQ:AMBA) Sees Significant Decline in Short Interest

Ambarella, Inc. (NASDAQ:AMBA) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 1,430,000 shares, a decline of 7.1% from the November 30th total of 1,540,000 shares. Based on an average daily trading volume, of 569,200 shares, the days-to-cover ratio is currently 2.5 days.

Insiders Place Their Bets

In other news, VP Chi-Hong Ju sold 5,118 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $75.71, for a total value of $387,483.78. Following the completion of the sale, the vice president now owns 158,686 shares of the company’s stock, valued at $12,014,117.06. This represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher Day sold 2,904 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total value of $168,432.00. Following the completion of the sale, the vice president now owns 18,466 shares of the company’s stock, valued at approximately $1,071,028. This trade represents a 13.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,518 shares of company stock worth $1,640,327 over the last ninety days. 5.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in Ambarella by 12.2% in the second quarter. Bank of New York Mellon Corp now owns 205,233 shares of the semiconductor company’s stock worth $11,072,000 after acquiring an additional 22,276 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Ambarella by 62.1% during the 2nd quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 552 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Ambarella by 8.7% in the 2nd quarter. Natixis Advisors LLC now owns 28,428 shares of the semiconductor company’s stock worth $1,534,000 after purchasing an additional 2,268 shares during the last quarter. Versor Investments LP acquired a new position in Ambarella during the 2nd quarter valued at approximately $235,000. Finally, Rhumbline Advisers grew its stake in Ambarella by 5.5% during the 2nd quarter. Rhumbline Advisers now owns 60,780 shares of the semiconductor company’s stock worth $3,279,000 after buying an additional 3,177 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors.

Ambarella Price Performance

Shares of AMBA opened at $72.74 on Wednesday. The stock has a market capitalization of $3.03 billion, a PE ratio of -18.84 and a beta of 1.68. The business’s fifty day moving average price is $66.09 and its 200 day moving average price is $58.39. Ambarella has a 12-month low of $39.69 and a 12-month high of $81.32.

Wall Street Analyst Weigh In

AMBA has been the subject of several analyst reports. Craig Hallum upped their target price on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Ambarella in a research report on Friday, December 6th. StockNews.com lowered Ambarella from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Northland Securities reiterated an “outperform” rating and issued a $95.00 price target (up previously from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Finally, Susquehanna raised their price objective on Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $84.17.

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.