Zacks: Analysts Anticipate Ambarella Inc (NASDAQ:AMBA) Will Post Quarterly Sales of $52.05 Million

Analysts expect Ambarella Inc (NASDAQ:AMBA) to report sales of $52.05 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Ambarella’s earnings, with the highest sales estimate coming in at $52.26 million and the lowest estimate coming in at $51.90 million. Ambarella posted sales of $62.47 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 16.7%. The company is expected to report its next earnings report on Thursday, August 29th.

On average, analysts expect that Ambarella will report full year sales of $208.71 million for the current fiscal year, with estimates ranging from $205.20 million to $211.20 million. For the next year, analysts expect that the firm will report sales of $251.00 million, with estimates ranging from $225.00 million to $316.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Ambarella.

Several research analysts recently issued reports on the stock. Bank of America reiterated an “underperform” rating and set a $42.00 price target (up previously from $36.00) on shares of Ambarella in a research report on Wednesday, June 5th. Needham & Company LLC cut Ambarella from a “hold” rating to an “underperform” rating in a report on Wednesday, June 5th. BidaskClub raised Ambarella from a “sell” rating to a “hold” rating in a report on Tuesday. Craig Hallum raised Ambarella from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Wednesday, March 6th. Finally, ValuEngine raised Ambarella from a “hold” rating to a “buy” rating in a report on Saturday, March 30th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $45.00.

In other news, VP Christopher Day sold 3,700 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $43.23, for a total value of $159,951.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leslie Kohn sold 3,571 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $43.48, for a total value of $155,267.08. Following the completion of the sale, the insider now directly owns 918,306 shares of the company’s stock, valued at $39,927,944.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,566 shares of company stock valued at $631,688. 6.31% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. increased its stake in Ambarella by 3.8% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,011 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 219 shares in the last quarter. First National Bank of Omaha increased its stake in Ambarella by 1.2% during the 1st quarter. First National Bank of Omaha now owns 24,595 shares of the semiconductor company’s stock worth $1,063,000 after purchasing an additional 288 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Ambarella by 10.7% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,762 shares of the semiconductor company’s stock worth $292,000 after purchasing an additional 652 shares in the last quarter. First Trust Advisors LP increased its stake in Ambarella by 5.9% during the 1st quarter. First Trust Advisors LP now owns 16,783 shares of the semiconductor company’s stock worth $725,000 after purchasing an additional 935 shares in the last quarter. Finally, Granite Investment Partners LLC increased its stake in Ambarella by 5.6% during the 4th quarter. Granite Investment Partners LLC now owns 20,815 shares of the semiconductor company’s stock worth $728,000 after purchasing an additional 1,097 shares in the last quarter. 74.85% of the stock is owned by institutional investors.

NASDAQ AMBA traded down $0.13 on Friday, hitting $42.17. 116,548 shares of the company were exchanged, compared to its average volume of 591,364. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -37.32 and a beta of 1.30. Ambarella has a 1-year low of $30.00 and a 1-year high of $52.12.

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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