Brokerages expect Ambarella Inc (NASDAQ:AMBA) to announce earnings per share (EPS) of $0.13 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Ambarella’s earnings, with the lowest EPS estimate coming in at $0.12 and the highest estimate coming in at $0.15. Ambarella reported earnings per share of $0.48 in the same quarter last year, which suggests a negative year over year growth rate of 72.9%. The business is expected to announce its next earnings report on Thursday, August 30th.
On average, analysts expect that Ambarella will report full-year earnings of $0.78 per share for the current fiscal year, with EPS estimates ranging from $0.65 to $1.08. For the next fiscal year, analysts expect that the firm will post earnings of $1.34 per share, with EPS estimates ranging from $1.05 to $1.88. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Ambarella.
Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Tuesday, June 5th. The semiconductor company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.04. The business had revenue of $56.90 million during the quarter, compared to the consensus estimate of $56.13 million. Ambarella had a net margin of 2.18% and a return on equity of 1.42%. Ambarella’s revenue for the quarter was down 11.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share.
A number of equities research analysts recently weighed in on AMBA shares. Zacks Investment Research downgraded shares of Ambarella from a “hold” rating to a “sell” rating in a research note on Monday, June 11th. Cowen started coverage on shares of Ambarella in a research note on Thursday, May 17th. They set an “outperform” rating and a $65.00 price target for the company. BidaskClub raised shares of Ambarella from a “strong sell” rating to a “sell” rating in a research note on Friday, April 13th. Dougherty & Co dropped their price target on shares of Ambarella from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, June 6th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $56.00 price target (down from $64.00) on shares of Ambarella in a research note on Wednesday, June 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Ambarella presently has a consensus rating of “Hold” and an average price target of $56.95.
In other news, VP Christopher Day sold 3,062 shares of the stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $44.00, for a total value of $134,728.00. Following the transaction, the vice president now directly owns 17,679 shares of the company’s stock, valued at $777,876. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO George Laplante sold 2,786 shares of the stock in a transaction dated Monday, June 18th. The shares were sold at an average price of $43.27, for a total transaction of $120,550.22. Following the completion of the transaction, the chief financial officer now directly owns 105,850 shares in the company, valued at $4,580,129.50. The disclosure for this sale can be found here. Insiders sold 20,657 shares of company stock valued at $897,714 in the last quarter. Corporate insiders own 5.84% of the company’s stock.
A number of institutional investors have recently made changes to their positions in AMBA. ETF Managers Group LLC boosted its stake in shares of Ambarella by 4.0% in the 1st quarter. ETF Managers Group LLC now owns 30,914 shares of the semiconductor company’s stock valued at $1,451,000 after purchasing an additional 1,191 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Ambarella by 1.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 96,598 shares of the semiconductor company’s stock worth $4,732,000 after buying an additional 1,257 shares during the period. Swiss National Bank boosted its position in Ambarella by 2.3% during the 1st quarter. Swiss National Bank now owns 58,433 shares of the semiconductor company’s stock worth $2,863,000 after buying an additional 1,300 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted 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 worth $197,000 after buying an additional 1,658 shares during the period. Finally, Geode Capital Management LLC boosted its position in Ambarella by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 88,075 shares of the semiconductor company’s stock worth $5,174,000 after buying an additional 1,735 shares during the period. Hedge funds and other institutional investors own 68.86% of the company’s stock.
Shares of AMBA traded down $1.88 on Wednesday, reaching $40.09. 844,385 shares of the company’s stock were exchanged, compared to its average volume of 1,145,856. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 72.89 and a beta of 1.24. Ambarella has a 12 month low of $40.03 and a 12 month high of $66.23.
Ambarella Company Profile
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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