Ambarella, Inc. (NASDAQ:AMBA) Expected to Post Quarterly Sales of $80.35 Million

Wall Street brokerages expect Ambarella, Inc. (NASDAQ:AMBAGet Rating) to post sales of $80.35 million for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Ambarella’s earnings, with the lowest sales estimate coming in at $80.00 million and the highest estimate coming in at $81.06 million. Ambarella reported sales of $79.33 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.3%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Ambarella will report full-year sales of $349.26 million for the current financial year, with estimates ranging from $341.70 million to $362.10 million. For the next financial year, analysts anticipate that the company will post sales of $425.53 million, with estimates ranging from $399.41 million to $458.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Ambarella.

Ambarella (NASDAQ:AMBAGet Rating) last issued its earnings results on Tuesday, May 31st. The semiconductor company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.37 by $0.07. The company had revenue of $90.31 million during the quarter, compared to the consensus estimate of $90.09 million. Ambarella had a negative return on equity of 4.80% and a negative net margin of 7.50%. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period last year, the business posted ($0.29) EPS.

AMBA has been the subject of several research reports. StockNews.com downgraded Ambarella from a “hold” rating to a “sell” rating in a research note on Friday, May 20th. Needham & Company LLC reduced their target price on Ambarella from $175.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, June 1st. Zacks Investment Research downgraded Ambarella from a “hold” rating to a “strong sell” rating and set a $74.00 price target for the company. in a research note on Monday, March 7th. Robert W. Baird cut their price target on Ambarella from $200.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, June 2nd. Finally, Craig Hallum cut their price target on Ambarella from $170.00 to $100.00 in a research note on Wednesday, June 1st. Three analysts have rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $133.56.

In related news, CFO Kevin C. Eichler sold 702 shares of Ambarella stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $84.42, for a total value of $59,262.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Yun-Lung Chen sold 8,000 shares of Ambarella stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $104.22, for a total transaction of $833,760.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,482 shares of company stock worth $14,415,929. Insiders own 6.60% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Liberty Wealth Management LLC raised its holdings in Ambarella by 93.1% during the 3rd quarter. Liberty Wealth Management LLC now owns 168 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 81 shares during the period. First Horizon Advisors Inc. raised its holdings in Ambarella by 585.7% during the 4th quarter. First Horizon Advisors Inc. now owns 144 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 123 shares during the period. Standard Family Office LLC bought a new stake in Ambarella during the 1st quarter valued at $42,000. UMB Bank N A MO bought a new stake in Ambarella during the 4th quarter valued at $47,000. Finally, Prospera Financial Services Inc bought a new stake in Ambarella during the 1st quarter valued at $52,000. 75.28% of the stock is currently owned by institutional investors.

Shares of AMBA opened at $85.58 on Tuesday. The stock has a 50-day moving average of $85.46 and a 200-day moving average of $127.53. The company has a market cap of $3.26 billion, a PE ratio of -118.86 and a beta of 1.28. Ambarella has a one year low of $65.60 and a one year high of $227.59.

Ambarella Company Profile (Get Rating)

Ambarella, Inc develops semiconductor solutions for video that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, 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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