Ambarella Inc (AMBA) Expected to Post Quarterly Sales of $57.06 Million

Wall Street analysts expect that Ambarella Inc (NASDAQ:AMBA) will report $57.06 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Ambarella’s earnings, with estimates ranging from $56.83 million to $57.50 million. Ambarella reported sales of $89.06 million during the same quarter last year, which indicates a negative year over year growth rate of 35.9%. The company is scheduled to report its next earnings results after the market closes on Thursday, November 29th.

On average, analysts expect that Ambarella will report full-year sales of $231.38 million for the current year, with estimates ranging from $226.40 million to $234.40 million. For the next financial year, analysts expect that the business will report sales of $264.05 million, with estimates ranging from $242.70 million to $300.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Ambarella.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Thursday, August 30th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $62.47 million during the quarter, compared to analyst estimates of $62.27 million.

Several research analysts have recently commented on AMBA shares. BidaskClub upgraded Ambarella from a “strong sell” rating to a “sell” rating in a report on Saturday, September 29th. ValuEngine upgraded Ambarella from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Bank of America downgraded Ambarella from a “neutral” rating to an “underperform” rating and set a $35.00 price objective on the stock. in a report on Friday, August 31st. Dougherty & Co decreased their price objective on Ambarella from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, August 31st. Finally, Northland Securities initiated coverage on Ambarella in a report on Monday, October 29th. They issued an “outperform” rating and a $38.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Ambarella has an average rating of “Hold” and an average price target of $49.45.

In other Ambarella news, Director Christopher B. Paisley sold 1,000 shares of the stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $40.00, for a total value of $40,000.00. Following the transaction, the director now owns 17,765 shares in the company, valued at $710,600. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider George Laplante sold 8,011 shares of the stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $38.61, for a total value of $309,304.71. Following the completion of the transaction, the insider now owns 95,053 shares in the company, valued at approximately $3,669,996.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,609 shares of company stock worth $1,628,876. 5.84% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. FMR LLC purchased a new stake in shares of Ambarella during the third quarter valued at approximately $12,363,000. JPMorgan Chase & Co. increased its position in shares of Ambarella by 4,210.3% during the third quarter. JPMorgan Chase & Co. now owns 324,481 shares of the semiconductor company’s stock valued at $12,550,000 after acquiring an additional 316,953 shares during the last quarter. First Pacific Advisors LP purchased a new stake in shares of Ambarella during the third quarter valued at approximately $11,369,000. Deutsche Bank AG increased its position in shares of Ambarella by 172.9% during the third quarter. Deutsche Bank AG now owns 399,185 shares of the semiconductor company’s stock valued at $15,438,000 after acquiring an additional 252,931 shares during the last quarter. Finally, Van Berkom & Associates Inc. increased its position in shares of Ambarella by 12.1% during the second quarter. Van Berkom & Associates Inc. now owns 1,549,203 shares of the semiconductor company’s stock valued at $59,815,000 after acquiring an additional 167,095 shares during the last quarter. Institutional investors own 69.28% of the company’s stock.

AMBA stock traded down $1.43 during mid-day trading on Wednesday, hitting $33.27. 469,806 shares of the stock were exchanged, compared to its average volume of 448,003. The firm has a market cap of $1.08 billion, a P/E ratio of 60.49 and a beta of 1.13. Ambarella has a 12 month low of $31.41 and a 12 month 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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Earnings History and Estimates for Ambarella (NASDAQ:AMBA)

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