Cim Investment Management Inc. Acquires Stake in Ambarella, Inc.

Cim Investment Management Inc., a prominent institutional investor, has recently purchased a new stake in Ambarella, Inc., according to its latest 13F filing with the Securities & Exchange Commission. The investment firm acquired 4,436 shares of Ambarella’s stock, valued at approximately $239,000. This move indicates Cim Investment Management’s confidence in the semiconductor company’s potential for growth.

Other hedge funds and institutional investors have also made changes to their positions in Ambarella. Meeder Asset Management Inc. purchased a stake in the company valued at $26,000, while CWM LLC increased its position by 127.7% during the second quarter. Van ECK Associates Corp and Larson Financial Group LLC also grew their holdings in Ambarella, demonstrating their belief in the company’s prospects. Additionally, Janney Montgomery Scott LLC acquired a stake in Ambarella worth around $205,000.

Ambarella’s stock opened at $56.44 on Friday, with a market capitalization of $2.31 billion. The company has a price-to-earnings ratio of -13.25 and a beta of 1.63. Its 50-day moving average stands at $51.51, while the 200-day moving average is $51.48. Over the past year, Ambarella’s stock has ranged from a low of $39.69 to a high of $65.88.

Several analysts have recently provided their insights on Ambarella’s stock. Wells Fargo & Company lowered their price target from $65.00 to $55.00 and assigned an “equal weight” rating to the company. TD Cowen increased their price objective from $65.00 to $75.00 and maintained a “hold” rating. Westpark Capital reiterated a “buy” rating with a target price of $85.00. Bank of America raised their price target from $50.00 to $57.00 and gave Ambarella an “underperform” rating. Stifel Nicolaus also raised their price objective from $75.00 to $80.00 and assigned a “buy” rating.

Insiders have been active in trading Ambarella’s stock as well. Director Elizabeth M. Schwarting recently sold 913 shares, while VP Christopher Day sold 1,408 shares. These transactions were disclosed in filings with the Securities & Exchange Commission.

It is worth noting that corporate insiders have sold a total of 22,927 shares of Ambarella stock, amounting to approximately $1,274,788, over the past 90 days. Insiders currently hold 5.70% of the company’s stock.

Ambarella, Inc. develops semiconductor solutions for high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company’s system-on-a-chip designs integrate various functions onto a single chip, including HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions. This integration allows Ambarella to deliver high-quality video and image capabilities, differentiated functionality, and low power consumption.

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