Ambarella Inc (NASDAQ:AMBA) Expected to Post Quarterly Sales of $52.01 Million

Equities analysts forecast that Ambarella Inc (NASDAQ:AMBA) will post sales of $52.01 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Ambarella’s earnings, with estimates ranging from $51.90 million to $52.14 million. Ambarella reported sales of $62.47 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 16.7%. The company is scheduled to announce its next earnings report on Thursday, August 29th.

On average, analysts expect that Ambarella will report full-year sales of $210.00 million for the current financial year, with estimates ranging from $205.20 million to $219.73 million. For the next fiscal year, analysts forecast that the business will report sales of $254.78 million, with estimates ranging from $225.00 million to $316.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Ambarella.

A number of equities analysts have recently weighed in on the company. BidaskClub cut Ambarella from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Needham & Company LLC cut Ambarella from a “hold” rating to an “underperform” rating in a report on Wednesday. Bank of America reiterated an “underperform” rating and set a $42.00 price target (up from $36.00) on shares of Ambarella in a report on Wednesday. ValuEngine upgraded Ambarella from a “hold” rating to a “buy” rating in a report on Saturday, March 30th. Finally, TheStreet upgraded Ambarella from a “d” rating to a “c-” rating in a report on Tuesday, March 5th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $45.00.

In related news, VP Christopher Day sold 1,886 shares of the firm’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $43.10, for a total transaction of $81,286.60. Following the completion of the transaction, the vice president now directly owns 9,674 shares in the company, valued at approximately $416,949.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $43.73, for a total value of $43,730.00. Following the transaction, the director now owns 20,309 shares of the company’s stock, valued at $888,112.57. The disclosure for this sale can be found here. Insiders have sold a total of 15,566 shares of company stock valued at $675,418 over the last 90 days. 6.31% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Ambarella by 3.8% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,011 shares of the semiconductor company’s stock valued at $259,000 after acquiring an additional 219 shares during the period. Man Group plc boosted its holdings in Ambarella by 89.0% during the 1st quarter. Man Group plc now owns 82,492 shares of the semiconductor company’s stock valued at $3,563,000 after acquiring an additional 38,841 shares during the period. Macquarie Group Ltd. purchased a new position in Ambarella during the 1st quarter valued at about $2,206,000. SEI Investments Co boosted its holdings in Ambarella by 2.2% during the 1st quarter. SEI Investments Co now owns 87,230 shares of the semiconductor company’s stock valued at $3,768,000 after acquiring an additional 1,919 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Ambarella by 68.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 304,463 shares of the semiconductor company’s stock valued at $13,153,000 after acquiring an additional 124,057 shares during the period. Institutional investors own 74.85% of the company’s stock.

NASDAQ AMBA opened at $38.96 on Friday. The firm has a market cap of $1.28 billion, a PE ratio of -34.48 and a beta of 1.30. Ambarella has a twelve month low of $30.00 and a twelve month high of $52.12.

About Ambarella

Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, 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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