$90.00 Million in Sales Expected for Ambarella, Inc. (NASDAQ:AMBA) This Quarter

Wall Street brokerages expect Ambarella, Inc. (NASDAQ:AMBAGet Rating) to report sales of $90.00 million for the current quarter, Zacks reports. Seven analysts have provided estimates for Ambarella’s earnings. The lowest sales estimate is $89.00 million and the highest is $91.01 million. Ambarella posted sales of $70.13 million during the same quarter last year, which would indicate a positive year over year growth rate of 28.3%. The business is scheduled to issue its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Ambarella will report full year sales of $386.79 million for the current fiscal year, with estimates ranging from $374.80 million to $396.90 million. For the next financial year, analysts anticipate that the business will report sales of $463.29 million, with estimates ranging from $438.70 million to $485.48 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Ambarella.

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

A number of equities research analysts recently commented on AMBA shares. Zacks Investment Research cut shares of Ambarella from a “hold” rating to a “strong sell” rating and set a $74.00 price objective on the stock. in a research note on Monday, March 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Ambarella from $140.00 to $115.00 and set a “hold” rating on the stock in a research note on Wednesday, April 20th. KeyCorp decreased their price target on shares of Ambarella from $230.00 to $160.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 1st. Craig Hallum decreased their price target on shares of Ambarella from $250.00 to $170.00 in a research note on Tuesday, March 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 price target on shares of Ambarella in a research note on Monday, April 4th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Ambarella currently has a consensus rating of “Buy” and a consensus target price of $169.53.

Shares of NASDAQ AMBA opened at $76.36 on Tuesday. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of -104.60 and a beta of 1.28. Ambarella has a 52 week low of $65.60 and a 52 week high of $227.59. The company’s 50-day moving average price is $89.24 and its 200 day moving average price is $139.36.

In related news, VP Yun-Lung Chen sold 19,241 shares of the stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $96.92, for a total value of $1,864,837.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher Day sold 713 shares of the stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $84.42, for a total value of $60,191.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 176,723 shares of company stock valued at $16,280,767. 5.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AMBA. First Trust Advisors LP raised its stake in Ambarella by 5.9% during the first quarter. First Trust Advisors LP now owns 16,783 shares of the semiconductor company’s stock valued at $725,000 after buying an additional 935 shares in the last quarter. Morgan Stanley raised its position in shares of Ambarella by 61.7% during the 2nd quarter. Morgan Stanley now owns 690,304 shares of the semiconductor company’s stock worth $73,606,000 after purchasing an additional 263,299 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Ambarella during the 3rd quarter worth approximately $311,000. State Board of Administration of Florida Retirement System raised its position in shares of Ambarella by 2.8% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 13,827 shares of the semiconductor company’s stock worth $2,153,000 after purchasing an additional 380 shares during the period. Finally, BlackRock Inc. raised its position in shares of Ambarella by 5.8% during the 3rd quarter. BlackRock Inc. now owns 3,326,258 shares of the semiconductor company’s stock worth $518,033,000 after purchasing an additional 183,482 shares during the period. Hedge funds and other institutional investors own 75.28% of the company’s stock.

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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