Ambarella (NASDAQ:AMBA) Posts Quarterly Earnings Results, Beats Expectations By $0.54 EPS

Ambarella (NASDAQ:AMBA) announced its earnings results on Monday. The semiconductor company reported $0.32 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.54, Briefing.com reports. The company had revenue of $67.90 million for the quarter, compared to analysts’ expectations of $65.00 million. Ambarella had a negative return on equity of 9.63% and a negative net margin of 16.33%. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 earnings per share.

NASDAQ:AMBA opened at $55.21 on Thursday. Ambarella has a 1-year low of $32.31 and a 1-year high of $67.15. The business’s 50-day moving average price is $54.68 and its two-hundred day moving average price is $50.28. The company has a current ratio of 9.01, a quick ratio of 8.64 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -49.73 and a beta of 1.28.

Several analysts have recently commented on AMBA shares. Bank of America increased their target price on Ambarella from $50.00 to $53.00 and gave the stock an “underperform” rating in a report on Tuesday. Stifel Nicolaus upped their price target on Ambarella from $54.00 to $55.00 and gave the company a “hold” rating in a research note on Tuesday. Cowen set a $68.00 price target on Ambarella and gave the company a “buy” rating in a research note on Thursday, October 10th. Needham & Company LLC reaffirmed a “sell” rating on shares of Ambarella in a research note on Friday, August 30th. Finally, Zacks Investment Research raised Ambarella from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Ambarella presently has an average rating of “Hold” and an average target price of $60.22.

In other Ambarella news, Director Teresa H. Meng sold 1,312 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $65.48, for a total value of $85,909.76. Following the transaction, the director now owns 3,936 shares of the company’s stock, valued at $257,729.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Feng-Ming Wang sold 60,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $59.18, for a total value of $3,550,800.00. Following the completion of the transaction, the chief executive officer now directly owns 514,944 shares in the company, valued at approximately $30,474,385.92. The disclosure for this sale can be found here. Insiders sold 108,190 shares of company stock worth $6,628,959 in the last three months. Insiders own 6.31% of the company’s stock.

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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Earnings History for Ambarella (NASDAQ:AMBA)

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