Ambarella, Inc. (NASDAQ:AMBA) Sees Large Growth in Short Interest

Ambarella, Inc. (NASDAQ:AMBA) was the target of a large growth in short interest in November. As of November 30th, there was short interest totalling 1,540,000 shares, a growth of 7.7% from the November 15th total of 1,430,000 shares. Based on an average trading volume of 548,300 shares, the days-to-cover ratio is presently 2.8 days.

Insider Transactions at Ambarella

In other news, VP Christopher Day sold 2,904 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total transaction of $168,432.00. Following the sale, the vice president now directly owns 18,466 shares of the company’s stock, valued at $1,071,028. This represents a 13.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Elizabeth M. Schwarting sold 913 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $54.74, for a total transaction of $49,977.62. Following the completion of the transaction, the director now owns 8,155 shares of the company’s stock, valued at $446,404.70. This trade represents a 10.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,590 shares of company stock valued at $725,366 in the last three months. 5.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new position in shares of Ambarella in the second quarter valued at approximately $26,000. Blue Trust Inc. boosted its stake in Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 321 shares during the period. CWM LLC increased its holdings in Ambarella by 127.7% during the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 304 shares in the last quarter. Signaturefd LLC raised its stake in shares of Ambarella by 389.6% in the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 526 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of Ambarella by 6,014.3% in the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 842 shares in the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMBA shares. Stifel Nicolaus boosted their target price on Ambarella from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Bank of America raised Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a report on Monday. Westpark Capital reaffirmed a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research note on Monday, August 26th. Roth Mkm reissued a “neutral” rating and set a $60.00 price target on shares of Ambarella in a research note on Wednesday, August 28th. Finally, Morgan Stanley raised their price objective on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. One investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.17.

Ambarella Stock Up 5.1 %

AMBA opened at $76.22 on Tuesday. The stock has a market cap of $3.18 billion, a P/E ratio of -19.75 and a beta of 1.68. Ambarella has a 12 month low of $39.69 and a 12 month high of $81.32. The company has a fifty day simple moving average of $62.53 and a 200 day simple moving average of $57.01.

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.