Ambarella Sees Unusually High Options Volume (NASDAQ:AMBA)

Ambarella, Inc. (NASDAQ:AMBA) was the target of some unusual options trading activity on Thursday. Traders purchased 2,823 put options on the stock. This represents an increase of approximately 58% compared to the average volume of 1,790 put options.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AMBA shares. StockNews.com cut shares of Ambarella from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Susquehanna increased their price objective on shares of Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. Northland Securities reiterated an “outperform” rating and issued a $95.00 price objective (up previously from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price objective on shares of Ambarella in a research note on Thursday. Finally, Morgan Stanley increased their price objective on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.67.

Ambarella Price Performance

Shares of AMBA opened at $62.92 on Friday. Ambarella has a 1 year low of $39.69 and a 1 year high of $85.15. The company has a 50 day simple moving average of $76.37 and a two-hundred day simple moving average of $64.94. The firm has a market cap of $2.62 billion, a P/E ratio of -16.30 and a beta of 1.66.

Insider Buying and Selling at Ambarella

In other Ambarella news, COO Chan W. Lee sold 1,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the transaction, the chief operating officer now owns 116,918 shares in the company, valued at approximately $9,254,059.70. This represents a 0.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher Day sold 1,278 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $71.61, for a total transaction of $91,517.58. Following the transaction, the vice president now owns 17,188 shares in the company, valued at $1,230,832.68. This represents a 6.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,861 shares of company stock worth $1,945,436. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Ambarella by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 4,696,124 shares of the semiconductor company’s stock valued at $341,596,000 after buying an additional 81,557 shares in the last quarter. State Street Corp grew its holdings in shares of Ambarella by 2.6% in the third quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock valued at $108,536,000 after purchasing an additional 47,856 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Ambarella by 7.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,452,128 shares of the semiconductor company’s stock valued at $105,628,000 after purchasing an additional 98,841 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Ambarella by 11.5% in the fourth quarter. Millennium Management LLC now owns 1,394,192 shares of the semiconductor company’s stock valued at $101,414,000 after purchasing an additional 144,268 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Ambarella by 4.8% in 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 purchasing an additional 61,387 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

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.