Wall Street analysts predict that Ambarella, Inc. (NASDAQ:AMBA) will post earnings of $0.66 per share for the current quarter, Zacks reports. Six analysts have provided estimates for Ambarella’s earnings, with estimates ranging from $0.64 to $0.69. Ambarella posted earnings of $1.11 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 40.5%. The business is scheduled to announce its next quarterly earnings results on Thursday, December 7th.
According to Zacks, analysts expect that Ambarella will report full year earnings of $1.89 per share for the current fiscal year, with EPS estimates ranging from $1.84 to $1.96. For the next fiscal year, analysts forecast that the firm will post earnings of $1.86 per share, with EPS estimates ranging from $1.38 to $2.32. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Ambarella.
Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. Ambarella had a net margin of 16.45% and a return on equity of 11.97%. The company had revenue of $71.63 million for the quarter, compared to the consensus estimate of $70.79 million. During the same quarter in the prior year, the company earned $0.54 EPS. Ambarella’s quarterly revenue was up 10.0% on a year-over-year basis.
AMBA has been the topic of several research analyst reports. Vetr lowered Ambarella from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 31st. Stifel Nicolaus reissued a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of Ambarella in a report on Thursday, June 1st. Canaccord Genuity reissued a “buy” rating and issued a $72.00 target price on shares of Ambarella in a report on Wednesday, June 7th. TheStreet lowered Ambarella from a “b” rating to a “c+” rating in a report on Tuesday, June 6th. Finally, Deutsche Bank AG dropped their target price on Ambarella from $55.00 to $54.00 and set a “hold” rating on the stock in a report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $58.23.
In related news, CEO Feng-Ming Wang sold 11,628 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 $567,097.56. Following the sale, the chief executive officer now directly owns 290,691 shares in the company, valued at $14,177,000.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Leslie Kohn sold 5,973 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 $291,303.21. Following the completion of the sale, the insider now owns 904,530 shares in the company, valued at $44,113,928.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,963 shares of company stock worth $1,168,676. Company insiders own 5.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in shares of Ambarella by 112.2% in the first quarter. Victory Capital Management Inc. now owns 1,903 shares of the semiconductor company’s stock valued at $104,000 after buying an additional 1,006 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Ambarella in the first quarter valued at approximately $151,000. FNY Partners Fund LP purchased a new stake in shares of Ambarella in the first quarter valued at approximately $164,000. Dubuque Bank & Trust Co. boosted its stake in shares of Ambarella by 4.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,793 shares of the semiconductor company’s stock valued at $184,000 after buying an additional 147 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Ambarella by 3.6% in the second quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock valued at $200,000 after buying an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 56.74% of the company’s stock.
Shares of Ambarella (NASDAQ:AMBA) traded up 2.65% during trading on Monday, reaching $44.59. 1,738,280 shares of the company traded hands. Ambarella has a 1-year low of $40.06 and a 1-year high of $74.95. The stock’s 50 day moving average is $50.13 and its 200 day moving average is $53.66. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 26.35 and a beta of 1.60.
Ambarella announced that its board has authorized a share buyback plan on Tuesday, June 6th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
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Ambarella Company Profile
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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