$56.23 Million in Sales Expected for Ambarella (AMBA) This Quarter

Equities analysts forecast that Ambarella (NASDAQ:AMBA) will announce sales of $56.23 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Ambarella’s earnings. The lowest sales estimate is $56.00 million and the highest is $56.52 million. Ambarella posted sales of $64.14 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 12.3%. The business is expected to announce its next earnings report after the market closes on Tuesday, June 5th.

According to Zacks, analysts expect that Ambarella will report full year sales of $299.08 million for the current fiscal year, with estimates ranging from $290.86 million to $315.00 million. For the next year, analysts forecast that the business will post sales of $353.11 million per share, with estimates ranging from $327.48 million to $383.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Ambarella.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Thursday, March 1st. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. Ambarella had a return on equity of 4.04% and a net margin of 6.38%. The company had revenue of $70.60 million for the quarter, compared to analyst estimates of $70.26 million. During the same period in the previous year, the company posted $0.92 EPS. The firm’s revenue for the quarter was down 19.3% compared to the same quarter last year.

A number of analysts recently issued reports on the company. Cowen assumed coverage on Ambarella in a research note on Thursday. They set an “outperform” rating and a $65.00 price objective on the stock. Zacks Investment Research upgraded Ambarella from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. ValuEngine lowered Ambarella from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, BidaskClub upgraded Ambarella from a “strong sell” rating to a “sell” rating in a research note on Friday, April 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $61.25.

Shares of NASDAQ:AMBA traded up $0.30 during midday trading on Friday, reaching $50.76. 253,005 shares of the company traded hands, compared to its average volume of 1,048,942. Ambarella has a 12 month low of $40.06 and a 12 month high of $66.23. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 92.29, a PEG ratio of 15.20 and a beta of 1.27.

In related news, insider Leslie Kohn sold 3,060 shares of the stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $53.07, for a total transaction of $162,394.20. Following the completion of the sale, the insider now directly owns 907,740 shares in the company, valued at approximately $48,173,761.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher Day sold 1,012 shares of the stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $53.07, for a total value of $53,706.84. The disclosure for this sale can be found here. Insiders sold a total of 13,882 shares of company stock valued at $738,518 over the last quarter. Company insiders own 5.84% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Sandy Spring Bank purchased a new stake in Ambarella during the 1st quarter valued at about $110,000. Point72 Asia Hong Kong Ltd bought a new position in Ambarella during the 1st quarter valued at approximately $139,000. Ladenburg Thalmann Financial Services Inc. raised its position in Ambarella by 98.9% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,334 shares of the semiconductor company’s stock valued at $197,000 after purchasing an additional 1,658 shares during the last quarter. HPM Partners LLC bought a new position in Ambarella during the 4th quarter valued at approximately $207,000. Finally, Xact Kapitalforvaltning AB bought a new position in Ambarella during the 1st quarter valued at approximately $213,000. Institutional investors own 69.11% of the company’s stock.

About Ambarella

Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.

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