Short Interest in Ambarella, Inc. (NASDAQ:AMBA) Rises By 7.7%

Ambarella, Inc. (NASDAQ:AMBA) was the recipient of a large growth in short interest during the month of 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 short-interest ratio is presently 2.8 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Roth Mkm reiterated a “neutral” rating and set a $60.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Craig Hallum raised their price objective on Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Stifel Nicolaus raised their price objective on Ambarella from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Westpark Capital reissued a “buy” rating and issued a $85.00 price target on shares of Ambarella in a report on Monday, August 26th. Finally, Needham & Company LLC raised their target price on shares of Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. One investment 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. According to data from MarketBeat.com, Ambarella currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.17.

Insider Buying and Selling

In other news, CTO Leslie Kohn sold 1,608 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $86,092.32. Following the transaction, the chief technology officer now owns 961,433 shares in the company, valued at approximately $51,475,122.82. This trade represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Chan W. Lee sold 1,490 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $79,774.60. Following the completion of the sale, the chief operating officer now directly owns 121,406 shares of the company’s stock, valued at approximately $6,500,077.24. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,234 shares of company stock valued at $1,233,935. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Large investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd raised its position in shares of Ambarella by 592.2% in the third quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock valued at $1,460,000 after buying an additional 22,144 shares during the last quarter. Mirabella Financial Services LLP purchased a new stake in Ambarella during the 3rd quarter valued at about $1,530,000. Millennium Management LLC grew its stake in Ambarella by 7.0% during the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after acquiring an additional 94,257 shares in the last quarter. Larson Financial Group LLC raised its holdings in Ambarella by 6,014.3% in the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 842 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Ambarella by 18.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 226,502 shares of the semiconductor company’s stock valued at $12,776,000 after purchasing an additional 35,977 shares during the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Ambarella Stock Down 0.8 %

AMBA stock opened at $72.53 on Monday. Ambarella has a 52-week low of $39.69 and a 52-week high of $81.32. The firm has a market cap of $3.02 billion, a P/E ratio of -18.79 and a beta of 1.68. The company’s 50-day simple moving average is $62.53 and its 200-day simple moving average is $57.01.

Ambarella Company 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.