Analysts Expect Ambarella Inc (AMBA) Will Announce Quarterly Sales of $70.41 Million

Analysts expect that Ambarella Inc (NASDAQ:AMBA) will post $70.41 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Ambarella’s earnings, with the lowest sales estimate coming in at $70.00 million and the highest estimate coming in at $71.20 million. Ambarella reported sales of $87.51 million in the same quarter last year, which would suggest a negative year over year growth rate of 19.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, February 27th.

According to Zacks, analysts expect that Ambarella will report full-year sales of $70.41 million for the current year, with estimates ranging from $294.80 million to $296.10 million. For the next year, analysts anticipate that the firm will report sales of $304.16 million per share, with estimates ranging from $292.07 million to $327.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Ambarella.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Thursday, November 30th. The semiconductor company reported $0.75 earnings per share (EPS) for the quarter, beating the 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 period in the previous year, the company posted $1.11 earnings per share. The company’s quarterly revenue was down 11.4% compared to the same quarter last year.

AMBA has been the topic of several research reports. Stifel Nicolaus restated a “buy” rating and set a $52.00 price target on shares of Ambarella in a research note on Saturday, September 23rd. Canaccord Genuity restated a “buy” rating and set a $65.00 price target (up from $58.00) on shares of Ambarella in a research note on Friday, October 13th. Vetr upgraded Ambarella from a “hold” rating to a “buy” rating and set a $61.51 price target on the stock in a research note on Tuesday, December 5th. Oppenheimer raised Ambarella from a “market perform” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Wednesday, January 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Ambarella in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $60.14.

In other news, VP Yun-Lung Chen sold 11,340 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $59.80, for a total value of $678,132.00. Following the transaction, the vice president now directly owns 11,386 shares of the company’s stock, valued at approximately $680,882.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Feng-Ming Wang sold 8,851 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $57.69, for a total value of $510,614.19. Following the completion of the transaction, the chief executive officer now directly owns 293,267 shares in the company, valued at $16,918,573.23. The disclosure for this sale can be found here. Insiders sold a total of 36,553 shares of company stock worth $2,145,108 over the last three months. 5.80% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in Ambarella by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,240 shares of the semiconductor company’s stock worth $109,000 after buying an additional 337 shares in the last quarter. Turner Investments LLC acquired a new position in Ambarella during the 3rd quarter worth $172,000. Amalgamated Bank lifted its holdings in Ambarella by 3.6% during the 2nd quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock worth $200,000 after buying an additional 143 shares in the last quarter. Aperio Group LLC acquired a new position in Ambarella during the 3rd quarter worth $213,000. Finally, Belpointe Asset Management LLC acquired a new position in Ambarella during the 3rd quarter worth $216,000. 63.02% of the stock is currently owned by institutional investors and hedge funds.

Ambarella (NASDAQ:AMBA) opened at $52.60 on Friday. Ambarella has a 12 month low of $40.06 and a 12 month high of $66.23. The stock has a market capitalization of $1,750.00, a PE ratio of 50.58, a P/E/G ratio of 5.21 and a beta of 1.59.

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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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