$88.96 Million in Sales Expected for Ambarella, Inc. (AMBA) This Quarter
Wall Street analysts expect Ambarella, Inc. (NASDAQ:AMBA) to announce $88.96 million in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Ambarella’s earnings, with the highest sales estimate coming in at $89.50 million and the lowest estimate coming in at $88.34 million. Ambarella posted sales of $100.49 million during the same quarter last year, which suggests a negative year-over-year growth rate of 11.5%. The company is scheduled to report its next earnings results on Thursday, December 7th.
According to Zacks, analysts expect that Ambarella will report full-year sales of $88.96 million for the current financial year, with estimates ranging from $294.24 million to $296.90 million. For the next fiscal year, analysts forecast that the business will report sales of $311.56 million per share, with estimates ranging from $295.70 million to $330.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Ambarella.
Ambarella (NASDAQ:AMBA) last posted its earnings results on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. Ambarella had a return on equity of 11.94% and a net margin of 16.45%. The company had revenue of $71.63 million for the quarter, compared to analyst estimates of $70.79 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year.
A number of equities research analysts have issued reports on AMBA shares. Craig Hallum lowered Ambarella from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research report on Friday, September 1st. Canaccord Genuity reaffirmed a “buy” rating and issued a $72.00 price target on shares of Ambarella in a research report on Tuesday, July 11th. Zacks Investment Research lowered Ambarella from a “hold” rating to a “sell” rating in a research report on Friday, June 9th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Ambarella in a report on Friday, September 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of Ambarella in a report on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $58.23.
Ambarella (NASDAQ:AMBA) opened at 46.33 on Wednesday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 27.38 and a beta of 1.60. Ambarella has a 1-year low of $40.06 and a 1-year high of $74.95. The firm has a 50-day moving average price of $49.97 and a 200 day moving average price of $53.57.
Ambarella declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, June 6th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
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In other Ambarella news, CFO George Laplante sold 4,836 shares of Ambarella stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $48.77, for a total value of $235,851.72. Following the transaction, the chief financial officer now directly owns 100,848 shares in the company, valued at approximately $4,918,356.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher Day sold 1,526 shares of Ambarella stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $48.77, for a total value of $74,423.02. Following the completion of the transaction, the vice president now owns 22,892 shares in the company, valued at $1,116,442.84. The disclosure for this sale can be found here. Insiders sold a total of 23,963 shares of company stock worth $1,168,676 over the last quarter. Company insiders own 5.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. grew its stake in shares of Ambarella by 112.2% in the 1st quarter. Victory Capital Management Inc. now owns 1,903 shares of the semiconductor company’s stock valued at $104,000 after purchasing an additional 1,006 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Ambarella in the 1st quarter valued at approximately $151,000. FNY Partners Fund LP purchased a new position in shares of Ambarella in the 1st quarter valued at approximately $164,000. Dubuque Bank & Trust Co. grew its stake in shares of Ambarella by 4.0% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 3,793 shares of the semiconductor company’s stock valued at $184,000 after purchasing an additional 147 shares during the last quarter. Finally, Laurion Capital Management LP purchased a new position in shares of Ambarella in the 1st quarter valued at approximately $213,000. Institutional investors own 56.74% of the company’s stock.
Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.
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