Stock Traders Buy High Volume of Put Options on Ambarella (NASDAQ:AMBA)

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

Insider Buying and Selling

In related news, COO Chan W. Lee sold 1,488 shares of Ambarella stock in a transaction on Monday, December 16th. The stock was sold at an average price of $75.41, for a total transaction of $112,210.08. Following the sale, the chief operating officer now directly owns 119,918 shares in the company, valued at approximately $9,043,016.38. This trade represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Christopher Day sold 1,278 shares of Ambarella stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $71.61, for a total transaction of $91,517.58. Following the completion of the transaction, the vice president now owns 17,188 shares of the company’s stock, valued at $1,230,832.68. The trade was a 6.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,861 shares of company stock worth $1,945,436. 5.70% of the stock is owned by corporate insiders.

Institutional Trading of Ambarella

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Ambarella by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 4,696,124 shares of the semiconductor company’s stock worth $341,596,000 after purchasing an additional 81,557 shares during the period. State Street Corp boosted its holdings in shares of Ambarella by 2.6% in the 3rd quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock valued at $108,536,000 after buying an additional 47,856 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Ambarella by 7.3% during the 4th 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 during the last quarter. Millennium Management LLC increased its stake in Ambarella by 11.5% during the 4th 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 lifted its holdings in shares of Ambarella by 4.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock worth $76,332,000 after purchasing an additional 61,387 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Trading Down 7.3 %

Shares of Ambarella stock traded down $5.55 on Thursday, hitting $70.26. 2,002,622 shares of the company traded hands, compared to its average volume of 708,443. The stock’s 50 day moving average price is $76.37 and its 200-day moving average price is $64.94. The company has a market cap of $2.93 billion, a PE ratio of -18.21 and a beta of 1.66. Ambarella has a 52 week low of $39.69 and a 52 week high of $85.15.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AMBA. Bank of America upgraded shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a report on Monday, December 16th. Stifel Nicolaus lifted their price objective on Ambarella from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com downgraded Ambarella from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of Ambarella in a research note on Thursday. Finally, Craig Hallum upped their price objective on shares of Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.67.

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.