Wall Street brokerages expect Ambarella Inc (NASDAQ:AMBA) to report $56.23 million in sales for the current quarter, according to Zacks. Five analysts have made estimates for Ambarella’s earnings, with estimates ranging from $56.00 million to $56.52 million. Ambarella posted sales of $64.14 million in the same quarter last year, which suggests a negative year-over-year growth rate of 12.3%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, June 5th.
On average, analysts expect that Ambarella will report full year sales of $56.23 million for the current fiscal year, with estimates ranging from $290.86 million to $315.00 million. For the next financial year, analysts forecast that the company will post sales of $353.11 million per share, with estimates ranging from $327.48 million to $383.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Ambarella.
Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Thursday, March 1st. The semiconductor company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. The company had revenue of $70.60 million for the quarter, compared to analyst estimates of $70.26 million. Ambarella had a return on equity of 4.08% and a net margin of 6.38%. The company’s quarterly revenue was down 19.3% compared to the same quarter last year. During the same period last year, the company earned $0.92 earnings per share.
A number of research analysts recently issued reports on the company. Zacks Investment Research lowered Ambarella from a “hold” rating to a “sell” rating in a report on Thursday, March 8th. BidaskClub cut Ambarella from a “sell” rating to a “strong sell” rating in a research note on Friday, January 19th. Oppenheimer raised Ambarella from a “market perform” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Wednesday, January 3rd. UBS raised Ambarella from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 3rd. Finally, Vetr cut Ambarella from a “buy” rating to a “hold” rating and set a $61.51 price target on the stock. in a research note on Thursday, December 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $60.83.
Ambarella (AMBA) traded up $0.87 during trading hours on Friday, reaching $54.24. The company had a trading volume of 1,266,853 shares, compared to its average volume of 1,049,313. The firm has a market capitalization of $1,803.21, a price-to-earnings ratio of 98.62, a P/E/G ratio of 16.31 and a beta of 1.53. Ambarella has a 1 year low of $40.06 and a 1 year high of $66.23.
In other news, VP Christopher Day sold 1,111 shares of Ambarella stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $57.69, for a total transaction of $64,093.59. Following the completion of the sale, the vice president now directly owns 22,216 shares in the company, valued at approximately $1,281,641.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher B. Paisley sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $54.87, for a total value of $54,870.00. Following the completion of the transaction, the director now directly owns 15,302 shares in the company, valued at $839,620.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,213 shares of company stock valued at $1,403,386. 5.80% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its stake in shares of Ambarella by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,951 shares of the semiconductor company’s stock valued at $1,212,000 after acquiring an additional 376 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Ambarella by 17.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,908 shares of the semiconductor company’s stock worth $238,000 after buying an additional 734 shares during the period. Envestnet Asset Management Inc. increased its position in Ambarella by 13.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 8,506 shares of the semiconductor company’s stock worth $417,000 after buying an additional 1,033 shares during the period. Victory Capital Management Inc. increased its position in Ambarella by 53.4% in the 3rd quarter. Victory Capital Management Inc. now owns 3,437 shares of the semiconductor company’s stock worth $168,000 after buying an additional 1,197 shares during the period. Finally, Swiss National Bank increased its position in Ambarella by 2.7% in the 4th quarter. Swiss National Bank now owns 57,133 shares of the semiconductor company’s stock worth $3,357,000 after buying an additional 1,500 shares during the period. 69.90% of the stock is currently owned by institutional investors and hedge funds.
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Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.
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