Ambarella, Inc. to Post Q3 2018 Earnings of $0.34 Per Share, Dougherty & Co Forecasts (AMBA)
Ambarella, Inc. (NASDAQ:AMBA) – Analysts at Dougherty & Co issued their Q3 2018 earnings estimates for Ambarella in a research report issued to clients and investors on Tuesday. Dougherty & Co analyst C. Anderson expects that the semiconductor company will earn $0.34 per share for the quarter. Dougherty & Co has a “Buy” rating and a $60.00 price objective on the stock.
Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. Ambarella had a net margin of 16.45% and a return on equity of 11.97%. The firm had revenue of $71.63 million for the quarter, compared to analyst estimates of $70.79 million. During the same quarter in the prior year, the business posted $0.54 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: This piece was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/09/07/ambarella-inc-to-post-q3-2018-earnings-of-0-34-per-share-dougherty-co-forecasts-amba.html.
Several other brokerages have also recently commented on AMBA. TheStreet cut shares of Ambarella from a “b” rating to a “c+” rating in a research note on Tuesday, June 6th. Vetr cut shares of Ambarella from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Ambarella in a research note on Friday, June 9th. BidaskClub cut shares of Ambarella from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $72.00 price objective on shares of Ambarella in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. Ambarella presently has a consensus rating of “Hold” and a consensus price target of $60.29.
Shares of Ambarella (NASDAQ:AMBA) traded up 4.28% on Thursday, hitting $43.36. 1,921,392 shares of the company’s stock were exchanged. The firm has a market cap of $1.45 billion, a P/E ratio of 25.63 and a beta of 1.60. Ambarella has a 12 month low of $40.06 and a 12 month high of $74.95. The stock’s 50 day moving average is $50.61 and its 200 day moving average is $53.87.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Ambarella by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 2,084,839 shares of the semiconductor company’s stock valued at $114,061,000 after buying an additional 104,382 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in Ambarella during the 1st quarter valued at $796,000. Tributary Capital Management LLC raised its holdings in Ambarella by 11.9% during the 2nd quarter. Tributary Capital Management LLC now owns 266,700 shares of the semiconductor company’s stock valued at $12,948,000 after buying an additional 28,303 shares during the last quarter. First National Bank of Omaha raised its holdings in Ambarella by 0.9% during the 2nd quarter. First National Bank of Omaha now owns 22,583 shares of the semiconductor company’s stock valued at $1,096,000 after buying an additional 205 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Ambarella by 48.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,368 shares of the semiconductor company’s stock valued at $261,000 after buying an additional 1,763 shares during the last quarter. Institutional investors own 56.74% of the company’s stock.
In other news, CEO Feng-Ming Wang sold 11,628 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $48.77, for a total value of $567,097.56. Following the completion of the sale, the chief executive officer now directly owns 290,691 shares in the company, valued at approximately $14,177,000.07. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO George Laplante sold 4,836 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $48.77, for a total transaction of $235,851.72. Following the completion of the sale, the chief financial officer now owns 100,848 shares of the company’s stock, valued at $4,918,356.96. The disclosure for this sale can be found here. In the last three months, insiders sold 23,963 shares of company stock valued at $1,168,676. Corporate insiders own 5.80% of the company’s stock.
Ambarella announced that its board has approved a share buyback plan on Tuesday, June 6th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the semiconductor company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
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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