Ambarella, Inc. (AMBA) Posts Earnings Results, Beats Estimates By $0.04 EPS
Ambarella, Inc. (NASDAQ:AMBA) announced its quarterly earnings data on Thursday. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04, Briefing.com reports. The company had revenue of $71.63 million during the quarter, compared to the consensus estimate of $70.79 million. Ambarella had a return on equity of 13.70% and a net margin of 18.47%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 EPS.
Ambarella (AMBA) opened at 54.40 on Friday. The firm has a 50-day moving average price of $51.46 and a 200 day moving average price of $54.18. The company has a market capitalization of $1.83 billion, a P/E ratio of 32.15 and a beta of 1.61. Ambarella has a 1-year low of $46.80 and a 1-year high of $74.95.
Ambarella declared that its board has authorized a stock buyback program on Tuesday, June 6th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the semiconductor company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
In other news, insider Leslie Kohn sold 5,973 shares of the business’s 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 $291,303.21. Following the completion of the sale, the insider now directly owns 904,530 shares in the company, valued at $44,113,928.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Feng-Ming Wang sold 11,628 shares of the business’s 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 $567,097.56. Following the completion of the sale, the chief executive officer now owns 290,691 shares of the company’s stock, valued at $14,177,000.07. The disclosure for this sale can be found here. Insiders sold 23,963 shares of company stock valued at $1,168,676 over the last 90 days. Company insiders own 5.80% of the company’s stock.
A number of brokerages recently issued reports on AMBA. Deutsche Bank AG cut their price objective on Ambarella from $55.00 to $54.00 and set a “hold” rating for the company in a research note on Friday, June 9th. Stifel Nicolaus reiterated a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of Ambarella in a research note on Thursday, June 1st. Zacks Investment Research downgraded Ambarella from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Ambarella in a research note on Friday, June 9th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Ambarella in a research note on Thursday. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $67.88.
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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