Oppenheimer Weighs in on Ambarella Inc’s FY2020 Earnings (AMBA)

Ambarella Inc (NASDAQ:AMBA) – Stock analysts at Oppenheimer issued their FY2020 earnings estimates for Ambarella in a research report issued on Wednesday. Oppenheimer analyst A. Uerkwitz forecasts that the semiconductor company will post earnings per share of $0.55 for the year. Oppenheimer has a “Buy” rating and a $70.00 price objective on the stock.

AMBA has been the topic of a number of other research reports. Zacks Investment Research upgraded Ambarella from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Ambarella in a research note on Friday, December 1st. UBS Group upgraded Ambarella from a “market perform” rating to an “outperform” rating in a research note on Wednesday. Morgan Stanley reiterated an “overweight” rating and issued a $60.00 price target on shares of Ambarella in a research note on Thursday, September 7th. Finally, BidaskClub lowered Ambarella from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $60.14.

Ambarella (AMBA) traded up $0.32 during trading on Friday, reaching $63.62. The company’s stock had a trading volume of 679,267 shares, compared to its average volume of 1,180,000. Ambarella has a 12-month low of $40.06 and a 12-month high of $66.23. The company has a market cap of $2,120.00, a price-to-earnings ratio of 61.17, a PEG ratio of 6.24 and a beta of 1.59.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Thursday, November 30th. The semiconductor company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. Ambarella had a return on equity of 7.87% and a net margin of 11.51%. The firm had revenue of $89.06 million for the quarter, compared to analyst estimates of $89.41 million. During the same quarter last year, the company earned $1.11 EPS. The company’s revenue was down 11.4% on a year-over-year basis.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMBA. Pinnacle Associates Ltd. boosted its holdings in shares of Ambarella by 54.9% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,014,489 shares of the semiconductor company’s stock valued at $49,720,000 after acquiring an additional 359,417 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of Ambarella during the 3rd quarter valued at $17,534,000. AXA lifted its holdings in Ambarella by 100.6% during the 2nd quarter. AXA now owns 708,106 shares of the semiconductor company’s stock worth $34,379,000 after buying an additional 355,170 shares during the period. Formula Growth Ltd. acquired a new position in Ambarella during the 3rd quarter worth about $9,960,000. Finally, Royal Bank of Canada lifted its holdings in Ambarella by 899.5% during the 2nd quarter. Royal Bank of Canada now owns 215,463 shares of the semiconductor company’s stock worth $10,461,000 after buying an additional 193,906 shares during the period. 63.01% of the stock is currently owned by institutional investors.

In related news, VP Yun-Lung Chen sold 11,340 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $59.80, for a total transaction of $678,132.00. Following the sale, the vice president now owns 11,386 shares of the company’s stock, valued at approximately $680,882.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher Day sold 1,111 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $57.69, for a total value of $64,093.59. Following the sale, the vice president now directly owns 22,216 shares in the company, valued at approximately $1,281,641.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,553 shares of company stock worth $2,145,108. 5.80% of the stock is currently owned by company insiders.

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About Ambarella

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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