Ambarella (AMBA) Announces Quarterly Results
Ambarella (NASDAQ:AMBA) issued its quarterly earnings data on Thursday. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.28 by $0.09, AnalystRatings.Net reports. The company had revenue of $47.00 million for the quarter, compared to the consensus estimate of $44.70 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 24.7% on a year-over-year basis.
Shares of Ambarella (NASDAQ:AMBA) traded up 0.14% during mid-day trading on Thursday, hitting $35.77. The stock had a trading volume of 2,012,228 shares. Ambarella has a 1-year low of $15.10 and a 1-year high of $36.72. The stock’s 50-day moving average is $30.40 and its 200-day moving average is $28.64. The company has a market cap of $1.045 billion and a price-to-earnings ratio of 41.92.
A number of research firms have recently commented on AMBA. Analysts at Imperial Capital initiated coverage on shares of Ambarella in a research note on Wednesday. They set an “outperform” rating and a $39.00 price target on the stock. Analysts at Stifel Nicolaus raised their price target on shares of Ambarella from $35.00 to $39.00 in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Ambarella presently has an average rating of “Buy” and a consensus price target of $30.50.
In other Ambarella news, Insider Leslie Kohn sold 20,000 shares of Ambarella stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $32.00, for a total value of $640,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Ambarella, Inc is a developer of semiconductor processing solutions for video that enable high-definition (NASDAQ:AMBA), video capture, sharing and display.
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