$70.41 Million in Sales Expected for Ambarella Inc (AMBA) This Quarter

Equities analysts expect that Ambarella Inc (NASDAQ:AMBA) will post sales of $70.41 million for the current quarter, according to Zacks. Six analysts have issued estimates for Ambarella’s earnings. The highest sales estimate is $71.20 million and the lowest is $70.00 million. Ambarella posted sales of $87.51 million in the same quarter last year, which would indicate a negative year over year growth rate of 19.5%. The firm is expected to report its next earnings report after the market closes on Thursday, March 1st.

According to Zacks, analysts expect that Ambarella will report full year sales of $70.41 million for the current year, with estimates ranging from $294.80 million to $296.10 million. For the next fiscal year, analysts anticipate that the firm will post sales of $302.45 million per share, with estimates ranging from $292.07 million to $327.00 million. Zacks’ sales averages are an average based on a survey of analysts that cover Ambarella.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, November 30th. The semiconductor company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The company had revenue of $89.06 million during the quarter, compared to analyst estimates of $89.41 million. Ambarella had a net margin of 11.51% and a return on equity of 7.87%. The firm’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same period last year, the business earned $1.11 EPS.

AMBA has been the subject of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Ambarella in a report on Friday, December 1st. Zacks Investment Research raised shares of Ambarella from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Canaccord Genuity reissued a “buy” rating and set a $65.00 price objective (up from $58.00) on shares of Ambarella in a report on Friday, October 13th. UBS Group raised shares of Ambarella from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 3rd. Finally, BidaskClub lowered shares of Ambarella from a “sell” rating to a “strong sell” rating in a report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $60.14.

In related news, VP Yun-Lung Chen sold 4,435 shares of Ambarella stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $59.80, for a total value of $265,213.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Leslie Kohn sold 4,614 shares of Ambarella stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $57.69, for a total transaction of $266,181.66. Following the completion of the sale, the insider now owns 906,766 shares in the company, valued at $52,311,330.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,553 shares of company stock worth $2,145,108. Insiders own 5.80% of the company’s stock.

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its position in Ambarella by 53.4% in the 3rd quarter. Victory Capital Management Inc. now owns 3,437 shares of the semiconductor company’s stock valued at $168,000 after purchasing an additional 1,197 shares during the last quarter. Turner Investments LLC bought a new stake in Ambarella in the 3rd quarter valued at about $172,000. Amalgamated Bank lifted its position in Ambarella by 3.6% in the 2nd quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock valued at $200,000 after purchasing an additional 143 shares during the last quarter. Aperio Group LLC bought a new stake in shares of Ambarella during the 3rd quarter worth about $213,000. Finally, Belpointe Asset Management LLC bought a new stake in shares of Ambarella during the 3rd quarter worth about $216,000. Hedge funds and other institutional investors own 63.06% of the company’s stock.

Shares of Ambarella (NASDAQ:AMBA) traded down $1.40 during mid-day trading on Monday, reaching $46.20. 601,611 shares of the company’s stock traded hands, compared to its average volume of 1,246,510. The firm has a market cap of $1,560.00, a price-to-earnings ratio of 44.42, a P/E/G ratio of 6.61 and a beta of 1.52. Ambarella has a 52 week low of $40.06 and a 52 week high of $66.23.

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About Ambarella

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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