Wall Street analysts expect Ambarella Inc (NASDAQ:AMBA) to post sales of $57.07 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Ambarella’s earnings, with estimates ranging from $56.83 million to $57.50 million. Ambarella reported sales of $89.06 million in the same quarter last year, which would suggest a negative year over year growth rate of 35.9%. The business is scheduled to issue its next earnings results on Thursday, November 29th.
According to Zacks, analysts expect that Ambarella will report full year sales of $232.91 million for the current financial year, with estimates ranging from $231.42 million to $234.40 million. For the next fiscal year, analysts expect that the business will post sales of $266.45 million per share, with estimates ranging from $242.70 million to $300.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Ambarella.
Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, August 30th. The semiconductor company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.12. Ambarella had a negative return on equity of 0.71% and a negative net margin of 1.40%. The business had revenue of $62.47 million during the quarter, compared to the consensus estimate of $62.27 million.
Several research firms recently weighed in on AMBA. ValuEngine upgraded Ambarella from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Zacks Investment Research downgraded Ambarella from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Deutsche Bank decreased their price objective on Ambarella from $44.00 to $38.00 and set a “hold” rating for the company in a report on Friday, August 31st. Stifel Nicolaus decreased their price objective on Ambarella from $56.00 to $45.00 and set a “buy” rating for the company in a report on Friday, August 31st. Finally, Dougherty & Co decreased their price objective on Ambarella from $55.00 to $50.00 and set a “buy” rating for the company in a report on Friday, August 31st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Ambarella has a consensus rating of “Hold” and an average price target of $52.15.
In other news, insider Leslie Kohn sold 3,097 shares of the business’s stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $43.27, for a total transaction of $134,007.19. Following the sale, the insider now owns 910,268 shares in the company, valued at $39,387,296.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher Day sold 3,062 shares of the business’s stock in a transaction dated Friday, June 22nd. The stock was sold at an average price of $44.00, for a total value of $134,728.00. Following the sale, the vice president now owns 17,679 shares in the company, valued at approximately $777,876. The disclosure for this sale can be found here. Insiders sold 41,191 shares of company stock worth $1,706,920 in the last quarter. 5.84% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Ambarella during the first quarter worth about $139,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Ambarella during the first quarter worth about $213,000. Pitcairn Co. purchased a new stake in shares of Ambarella during the first quarter worth about $224,000. ETRADE Capital Management LLC purchased a new stake in shares of Ambarella during the first quarter worth about $230,000. Finally, Alps Advisors Inc. purchased a new stake in shares of Ambarella during the second quarter worth about $264,000. Institutional investors and hedge funds own 67.60% of the company’s stock.
AMBA stock opened at $38.00 on Friday. Ambarella has a 1-year low of $34.33 and a 1-year high of $66.23.
Ambarella Company Profile
Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.
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