$70.41 Million in Sales Expected for Ambarella Inc (AMBA) This Quarter

Equities analysts expect that Ambarella Inc (NASDAQ:AMBA) will report sales of $70.41 million for the current quarter, according to Zacks. Six analysts have issued estimates for Ambarella’s earnings, with the highest sales estimate coming in at $71.20 million and the lowest estimate coming in at $70.00 million. Ambarella posted sales of $87.51 million in the same quarter last year, which suggests a negative year over year growth rate of 19.5%. The company is scheduled to report its next earnings results after the market closes on Tuesday, February 27th.

On average, analysts expect that Ambarella will report full-year sales of $70.41 million for the current financial 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 $302.45 million per share, with estimates ranging from $292.07 million to $327.00 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Ambarella.

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

AMBA has been the topic of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of Ambarella in a report on Friday, December 1st. Zacks Investment Research upgraded Ambarella from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Canaccord Genuity restated a “buy” rating and issued a $65.00 target price (up from $58.00) on shares of Ambarella in a report on Friday, October 13th. UBS Group upgraded Ambarella from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 3rd. Finally, BidaskClub cut Ambarella from a “sell” rating to a “strong sell” rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Ambarella has a consensus rating of “Hold” and an average price target of $60.14.

In other news, VP Yun-Lung Chen sold 11,340 shares of Ambarella 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 transaction, the vice president now owns 11,386 shares in the company, valued at $680,882.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher B. Paisley sold 2,000 shares of Ambarella stock in a transaction on Monday, December 11th. The shares were sold at an average price of $59.23, for a total value of $118,460.00. The disclosure for this sale can be found here. Insiders have sold 36,553 shares of company stock worth $2,145,108 in the last quarter. 5.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AMBA. Pinnacle Associates Ltd. grew its stake in Ambarella by 54.9% in the third quarter. Pinnacle Associates Ltd. now owns 1,014,489 shares of the semiconductor company’s stock valued at $49,720,000 after purchasing an additional 359,417 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in Ambarella in the third quarter valued at about $17,534,000. Formula Growth Ltd. purchased a new position in Ambarella in the third quarter valued at about $9,960,000. Royal Bank of Canada grew its stake in Ambarella by 899.5% in the second quarter. Royal Bank of Canada now owns 215,463 shares of the semiconductor company’s stock valued at $10,461,000 after purchasing an additional 193,906 shares in the last quarter. Finally, Rothschild Asset Management Inc. grew its stake in Ambarella by 57.9% in the third quarter. Rothschild Asset Management Inc. now owns 523,017 shares of the semiconductor company’s stock valued at $25,633,000 after purchasing an additional 191,743 shares in the last quarter. Hedge funds and other institutional investors own 63.08% of the company’s stock.

Ambarella (NASDAQ AMBA) opened at $48.15 on Monday. The stock has a market capitalization of $1,600.00, a price-to-earnings ratio of 46.30, a P/E/G ratio of 6.66 and a beta of 1.52. Ambarella has a 1-year low of $40.06 and a 1-year high of $66.23.

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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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