Zacks: Brokerages Anticipate Ambarella Inc (AMBA) Will Post Quarterly Sales of $51.15 Million

Wall Street brokerages predict that Ambarella Inc (NASDAQ:AMBA) will announce sales of $51.15 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Ambarella’s earnings. The lowest sales estimate is $51.00 million and the highest is $51.60 million. Ambarella reported sales of $70.58 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 27.5%. The firm is expected to issue its next quarterly earnings results on Thursday, March 7th.

On average, analysts expect that Ambarella will report full year sales of $229.34 million for the current financial year, with estimates ranging from $227.70 million to $234.40 million. For the next financial year, analysts anticipate that the firm will report sales of $250.56 million, with estimates ranging from $230.00 million to $271.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Ambarella.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Thursday, November 29th. The semiconductor company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.01). Ambarella had a negative return on equity of 5.21% and a negative net margin of 9.97%. The company had revenue of $57.30 million during the quarter, compared to the consensus estimate of $57.12 million. During the same quarter in the previous year, the business posted $0.75 EPS. The firm’s revenue for the quarter was down 35.7% on a year-over-year basis.

A number of research analysts recently commented on AMBA shares. BidaskClub upgraded Ambarella from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 29th. ValuEngine upgraded Ambarella from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Bank of America cut Ambarella from a “neutral” rating to an “underperform” rating and set a $35.00 price target on the stock. in a research report on Friday, August 31st. Northland Securities started coverage on Ambarella in a research report on Monday, October 29th. They issued an “outperform” rating and a $38.00 price target on the stock. Finally, Dougherty & Co decreased their price target on Ambarella from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, August 31st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Ambarella presently has an average rating of “Hold” and an average price target of $48.95.

Shares of NASDAQ AMBA opened at $39.40 on Friday. Ambarella has a 52 week low of $30.00 and a 52 week high of $66.23. The firm has a market capitalization of $1.29 billion, a P/E ratio of 71.64 and a beta of 1.09.

In other Ambarella news, VP Christopher Day sold 1,798 shares of Ambarella stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $41.35, for a total value of $74,347.30. Following the transaction, the vice president now owns 16,307 shares in the company, valued at $674,294.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Feng-Ming Wang sold 10,727 shares of Ambarella stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $35.56, for a total value of $381,452.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,081 shares of company stock worth $1,610,488. Company insiders own 5.84% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. grew its position in Ambarella by 5.8% in the second quarter. Pinnacle Associates Ltd. now owns 953,325 shares of the semiconductor company’s stock valued at $36,808,000 after acquiring an additional 52,391 shares during the last quarter. Marathon Capital Management bought a new position in Ambarella in the second quarter valued at about $270,000. ING Groep NV grew its position in Ambarella by 846.4% in the second quarter. ING Groep NV now owns 137,225 shares of the semiconductor company’s stock valued at $5,298,000 after acquiring an additional 122,725 shares during the last quarter. Russell Investments Group Ltd. grew its position in Ambarella by 11.9% in the second quarter. Russell Investments Group Ltd. now owns 23,759 shares of the semiconductor company’s stock valued at $918,000 after acquiring an additional 2,533 shares during the last quarter. Finally, Rothschild Investment Corp IL bought a new position in Ambarella in the third quarter valued at about $1,813,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

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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