Ambarella, Inc. (AMBA) Scheduled to Post Earnings on Wednesday
Ambarella, Inc. (NASDAQ:AMBA) will be releasing its earnings data after the market closes on Wednesday, August 30th. Analysts expect Ambarella to post earnings of $0.44 per share for the quarter.
Ambarella (NASDAQ:AMBA) last released its earnings results on Tuesday, June 6th. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.03. Ambarella had a net margin of 18.47% and a return on equity of 13.70%. The business had revenue of $64.10 million for the quarter, compared to analysts’ expectations of $63.54 million. During the same period last year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, analysts expect Ambarella to post $0.69 EPS for the current fiscal year and $0.73 EPS for the next fiscal year.
Shares of Ambarella, Inc. (AMBA) opened at 52.98 on Monday. Ambarella, Inc. has a 52-week low of $46.80 and a 52-week high of $74.95. The company has a 50 day moving average of $50.97 and a 200 day moving average of $54.18. The firm has a market capitalization of $1.78 billion, a PE ratio of 31.31 and a beta of 1.61.
Ambarella announced that its Board of Directors has initiated a share buyback plan on Tuesday, June 6th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
In other news, CFO George Laplante sold 4,836 shares of the company’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $48.77, for a total transaction of $235,851.72. Following the completion of the sale, the chief financial officer now directly owns 100,848 shares in the company, valued at approximately $4,918,356.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Leslie Kohn sold 5,973 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $48.77, for a total value of $291,303.21. Following the sale, the insider now owns 904,530 shares of the company’s stock, valued at $44,113,928.10. The disclosure for this sale can be found here. Insiders sold a total of 23,963 shares of company stock valued at $1,168,676 over the last 90 days. 5.80% of the stock is currently owned by corporate insiders.
AMBA has been the topic of several recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating and set a $72.00 price target on shares of Ambarella in a research report on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of Ambarella in a research report on Wednesday, June 7th. Vetr lowered Ambarella from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 31st. TheStreet lowered Ambarella from a “b” rating to a “c+” rating in a research report on Tuesday, June 6th. Finally, Deutsche Bank AG lowered their price target on Ambarella from $55.00 to $54.00 and set a “hold” rating on the stock in a research report on Friday, June 9th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target 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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