Ambarella, Inc. Expected to Post Q1 2024 Earnings of ($0.81) Per Share (NASDAQ:AMBA)

Ambarella, Inc. (NASDAQ:AMBA – Get Rating) – Investment analysts at Jefferies Financial Group decreased their Q1 2024 earnings estimates for shares of Ambarella in a report issued on Wednesday, March 1st. Jefferies Financial Group analyst D. Kelley now forecasts that the semiconductor company will earn ($0.81) per share for the quarter, down from their prior estimate of ($0.60). The consensus estimate for Ambarella’s current full-year earnings is ($2.64) per share. Jefferies Financial Group also issued estimates for Ambarella’s Q2 2024 earnings at ($0.72) EPS, Q3 2024 earnings at ($0.64) EPS, Q4 2024 earnings at ($0.53) EPS, FY2024 earnings at ($2.69) EPS and FY2025 earnings at ($1.58) EPS.

Ambarella (NASDAQ:AMBA – Get Rating) last announced its quarterly earnings results on Thursday, December 1st. The semiconductor company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.12. The company had revenue of $83.10 million during the quarter, compared to analysts’ expectations of $83.03 million. Ambarella had a negative return on equity of 8.94% and a negative net margin of 19.37%.

Other analysts have also recently issued reports about the company. Susquehanna increased their target price on Ambarella from $96.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, March 1st. Stifel Nicolaus increased their target price on Ambarella from $76.00 to $90.00 in a research note on Monday, November 21st. Roth Mkm cut Ambarella from a “buy” rating to a “neutral” rating and set a $95.00 target price for the company. in a research note on Wednesday, March 1st. KeyCorp increased their target price on Ambarella from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 1st. Finally, Susquehanna Bancshares assumed coverage on Ambarella in a research note on Monday, December 12th. They set a “positive” rating and a $90.00 target price for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Ambarella presently has an average rating of “Moderate Buy” and an average target price of $95.78.

Ambarella Stock Performance

NASDAQ AMBA opened at $82.57 on Monday. The business has a 50 day simple moving average of $88.28 and a 200 day simple moving average of $74.51. Ambarella has a 52-week low of $49.02 and a 52-week high of $109.17. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of -48.29 and a beta of 1.53.

Institutional Trading of Ambarella

A number of hedge funds have recently made changes to their positions in AMBA. CWM LLC lifted its stake in shares of Ambarella by 101.9% in the third quarter. CWM LLC now owns 648 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 327 shares during the period. Private Trust Co. NA bought a new stake in Ambarella during the second quarter worth $56,000. Belpointe Asset Management LLC bought a new stake in Ambarella during the fourth quarter worth $77,000. China Universal Asset Management Co. Ltd. bought a new stake in Ambarella during the fourth quarter worth $82,000. Finally, Rockefeller Capital Management L.P. boosted its position in Ambarella by 609.5% in the third quarter. Rockefeller Capital Management L.P. now owns 1,050 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 902 shares during the last quarter. 78.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ambarella

In other Ambarella news, COO Chan W. Lee sold 2,055 shares of the firm’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $83.77, for a total transaction of $172,147.35. Following the completion of the sale, the chief operating officer now owns 66,891 shares of the company’s stock, valued at approximately $5,603,459.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ambarella news, COO Chan W. Lee sold 2,055 shares of the stock in a transaction on Friday, December 16th. The stock was sold at an average price of $83.77, for a total transaction of $172,147.35. Following the transaction, the chief operating officer now owns 66,891 shares in the company, valued at approximately $5,603,459.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher Day sold 2,333 shares of the stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $90.82, for a total value of $211,883.06. Following the transaction, the vice president now owns 18,398 shares in the company, valued at approximately $1,670,906.36. The disclosure for this sale can be found here. Insiders sold 14,806 shares of company stock valued at $1,248,448 in the last quarter. 6.60% of the stock is currently owned by insiders.

Ambarella Company Profile

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Ambarella, Inc engages in the development and sale of video compression, image processing, and computer vision solutions. It offers processors and software that cater to end markets including security cameras, automotive cameras, industrial and robotic applications, and consumer applications. The company was founded by Feng Ming Wang and Leslie D.