Brokerages Expect Ambarella, Inc. (NASDAQ:AMBA) Will Post Quarterly Sales of $90.00 Million

Brokerages forecast that Ambarella, Inc. (NASDAQ:AMBAGet Rating) will post sales of $90.00 million for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Ambarella’s earnings, with estimates ranging from $89.00 million to $91.01 million. Ambarella posted sales of $70.13 million during the same quarter last year, which suggests a positive year over year growth rate of 28.3%. The business is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Ambarella will report full year sales of $386.79 million for the current year, with estimates ranging from $374.80 million to $396.90 million. For the next year, analysts expect that the company will post sales of $463.29 million, with estimates ranging from $438.70 million to $485.48 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Ambarella.

Ambarella (NASDAQ:AMBAGet Rating) last announced its quarterly earnings results on Monday, February 28th. The semiconductor company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.25). The company had revenue of $90.23 million for the quarter, compared to analysts’ expectations of $90.18 million. Ambarella had a negative net margin of 7.96% and a negative return on equity of 4.95%. The business’s revenue was up 45.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.39) EPS.

A number of analysts have recently issued reports on the stock. Cowen dropped their price target on shares of Ambarella from $235.00 to $180.00 and set an “outperform” rating on the stock in a report on Tuesday, March 1st. StockNews.com downgraded shares of Ambarella from a “hold” rating to a “sell” rating in a report on Friday, April 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Ambarella from $175.00 to $140.00 and set a “hold” rating on the stock in a report on Tuesday, March 1st. Bank of America dropped their price objective on shares of Ambarella from $140.00 to $130.00 and set an “underperform” rating on the stock in a report on Tuesday, March 1st. Finally, Morgan Stanley dropped their price objective on shares of Ambarella from $229.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, March 1st. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $171.20.

In other news, CEO Feng-Ming Wang sold 46,908 shares of Ambarella stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $91.20, for a total transaction of $4,278,009.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andrew W. Verhalen acquired 11,455 shares of Ambarella stock in a transaction dated Monday, March 7th. The shares were bought at an average price of $88.59 per share, for a total transaction of $1,014,798.45. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 176,723 shares of company stock worth $16,280,767. Company insiders own 5.60% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in AMBA. Liberty Wealth Management LLC increased its position in Ambarella by 93.1% in the third quarter. Liberty Wealth Management LLC now owns 168 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 81 shares during the last quarter. First Horizon Advisors Inc. increased its position in Ambarella by 585.7% in the fourth quarter. First Horizon Advisors Inc. now owns 144 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 123 shares during the last quarter. UMB Bank N A MO bought a new stake in Ambarella in the fourth quarter worth $47,000. Northwestern Mutual Wealth Management Co. increased its position in Ambarella by 46.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 412 shares of the semiconductor company’s stock worth $83,000 after purchasing an additional 131 shares during the last quarter. Finally, CWM LLC bought a new stake in Ambarella in the fourth quarter worth $84,000. Institutional investors own 76.44% of the company’s stock.

Shares of NASDAQ AMBA traded up $4.03 during trading on Wednesday, reaching $92.68. 582,806 shares of the company traded hands, compared to its average volume of 838,832. The firm has a 50 day simple moving average of $110.33 and a 200-day simple moving average of $152.90. The stock has a market capitalization of $3.53 billion, a PE ratio of -126.96 and a beta of 1.19. Ambarella has a 52-week low of $81.28 and a 52-week high of $227.59.

About Ambarella (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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