Zacks: Brokerages Expect Ambarella Inc (AMBA) Will Post Quarterly Sales of $63.46 Million
Brokerages predict that Ambarella Inc (NASDAQ:AMBA) will post $63.46 million in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Ambarella’s earnings. The lowest sales estimate is $63.4 million and the highest is $63.5 million. Ambarella reported sales of $57.16 million during the same quarter last year, which would suggest a positive year over year growth rate of 11%. The business is expected to issue its next earnings report after the market closes on Tuesday, June 6th.
On average, analysts expect that Ambarella will report full year sales of $63.46 million for the current year, with estimates ranging from $308 million to $314.2 million. For the next fiscal year, analysts anticipate that the company will post sales of $354.49 million per share, with estimates ranging from $319.8 million to $381.47 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Ambarella.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Tuesday, February 28th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.04. Ambarella had a net margin of 15.32% and a return on equity of 13.28%. The firm had revenue of $87.50 million during the quarter, compared to the consensus estimate of $85.92 million. During the same period last year, the firm posted $0.64 EPS. The firm’s quarterly revenue was up 28.7% on a year-over-year basis.
Several equities research analysts recently weighed in on AMBA shares. Zacks Investment Research raised shares of Ambarella from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Vetr cut shares of Ambarella from a “strong-buy” rating to a “buy” rating and set a $64.14 price objective for the company. in a research report on Monday, March 20th. Canaccord Genuity reaffirmed a “buy” rating and set a $72.00 price objective on shares of Ambarella in a research report on Thursday, March 16th. Pacific Crest reaffirmed an “overweight” rating and set a $64.00 price objective on shares of Ambarella in a research report on Saturday, March 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Ambarella in a research report on Saturday, March 11th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $68.88.
Ambarella (NASDAQ:AMBA) opened at 65.05 on Friday. Ambarella has a one year low of $40.46 and a one year high of $74.95. The company’s 50-day moving average is $57.56 and its 200 day moving average is $55.92. The company has a market capitalization of $2.18 billion, a P/E ratio of 38.72 and a beta of 1.51.
In other news, VP Christopher Day sold 2,109 shares of the company’s stock in a transaction that occurred on Friday, March 31st. The stock was sold at an average price of $55.50, for a total value of $117,049.50. Following the completion of the transaction, the vice president now owns 19,960 shares of the company’s stock, valued at $1,107,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher B. Paisley sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $60.54, for a total value of $60,540.00. Following the completion of the transaction, the director now directly owns 11,893 shares of the company’s stock, valued at approximately $720,002.22. The disclosure for this sale can be found here. Insiders sold 20,232 shares of company stock valued at $1,138,992 in the last three months. Company insiders own 5.43% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMBA. State Street Corp increased its position in Ambarella by 6.0% in the fourth quarter. State Street Corp now owns 542,915 shares of the semiconductor company’s stock valued at $29,388,000 after buying an additional 30,766 shares in the last quarter. Polianta Ltd purchased a new position in Ambarella during the fourth quarter valued at about $1,050,000. First Interstate Bank increased its position in Ambarella by 2.4% in the fourth quarter. First Interstate Bank now owns 2,169 shares of the semiconductor company’s stock valued at $117,000 after buying an additional 50 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Ambarella during the fourth quarter valued at about $1,517,000. Finally, LPL Financial LLC increased its position in Ambarella by 3.2% in the third quarter. LPL Financial LLC now owns 36,446 shares of the semiconductor company’s stock valued at $2,662,000 after buying an additional 1,140 shares in the last quarter. 58.50% of the stock is owned by institutional investors.
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Ambarella Company Profile
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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