Ambarella Inc. (AMBA) to Release Quarterly Earnings on Thursday
Ambarella Inc. (NASDAQ:AMBA) is scheduled to be announcing its Q317 earnings results on Thursday, December 1st. Analysts expect the company to announce earnings of $0.95 per share and revenue of $97.70 million for the quarter.
Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Thursday, September 1st. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.16. Ambarella had a net margin of 15.86% and a return on equity of 14.23%. The firm had revenue of $65.10 million for the quarter, compared to analyst estimates of $64.02 million. During the same period last year, the firm posted $0.88 EPS. Ambarella’s quarterly revenue was down 22.7% on a year-over-year basis. On average, analysts expect Ambarella to post $2.64 EPS for the current fiscal year and $3.08 EPS for the next fiscal year.
Ambarella Inc. (NASDAQ:AMBA) opened at 63.62 on Tuesday. The company has a 50-day moving average of $61.64 and a 200-day moving average of $58.67. Ambarella Inc. has a 52-week low of $33.39 and a 52-week high of $74.95. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 47.91 and a beta of 1.63.
In related news, CFO George Laplante sold 10,000 shares of Ambarella stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $70.00, for a total transaction of $700,000.00. Following the transaction, the chief financial officer now directly owns 100,040 shares of the company’s stock, valued at $7,002,800. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Yun-Lung Chen sold 4,197 shares of Ambarella stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $74.19, for a total value of $311,375.43. Following the transaction, the vice president now directly owns 13,530 shares in the company, valued at $1,003,790.70. The disclosure for this sale can be found here. Corporate insiders own 5.43% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Vident Investment Advisory LLC bought a new position in Ambarella during the second quarter worth $897,000. Rhumbline Advisers raised its position in Ambarella by 15.8% in the second quarter. Rhumbline Advisers now owns 36,921 shares of the company’s stock worth $1,876,000 after buying an additional 5,027 shares during the period. Teachers Advisors Inc. raised its position in Ambarella by 4.8% in the second quarter. Teachers Advisors Inc. now owns 50,653 shares of the company’s stock worth $2,574,000 after buying an additional 2,342 shares during the period. Baird Financial Group Inc. raised its position in Ambarella by 8.2% in the second quarter. Baird Financial Group Inc. now owns 55,241 shares of the company’s stock worth $2,809,000 after buying an additional 4,192 shares during the period. Finally, Credit Suisse AG raised its position in Ambarella by 124.2% in the second quarter. Credit Suisse AG now owns 140,340 shares of the company’s stock worth $7,130,000 after buying an additional 77,745 shares during the period. Institutional investors and hedge funds own 58.80% of the company’s stock.
AMBA has been the subject of several research analyst reports. Zacks Investment Research upgraded Ambarella from a “hold” rating to a “strong-buy” rating and set a $65.00 target price for the company in a research note on Tuesday, August 2nd. Vetr cut Ambarella from a “strong-buy” rating to a “buy” rating and set a $68.62 target price for the company. in a research note on Friday, August 12th. Stifel Nicolaus reiterated a “buy” rating and set a $86.00 target price on shares of Ambarella in a research note on Thursday, August 25th. Needham & Company LLC reiterated a “hold” rating on shares of Ambarella in a research note on Friday, August 26th. Finally, Pacific Crest raised their price objective on Ambarella from $53.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 30th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Ambarella currently has an average rating of “Buy” and a consensus price target of $70.03.
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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