Ambarella (NASDAQ:AMBA) Announces Earnings Results, Meets Estimates

Ambarella (NASDAQ:AMBA) issued its quarterly earnings results on Thursday. The semiconductor company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11, FiscalAI reports. The firm had revenue of $100.36 million for the quarter, compared to analyst estimates of $100.12 million. Ambarella had a negative net margin of 19.42% and a negative return on equity of 12.16%.

Ambarella Stock Up 1.4%

AMBA traded up $1.26 during trading on Thursday, reaching $91.84. The company’s stock had a trading volume of 2,659,922 shares, compared to its average volume of 940,780. The firm has a fifty day simple moving average of $64.72 and a two-hundred day simple moving average of $68.41. Ambarella has a 1 year low of $48.30 and a 1 year high of $96.69. The company has a market cap of $4.03 billion, a price-to-earnings ratio of -51.60 and a beta of 2.17.

Analyst Ratings Changes

A number of research analysts recently weighed in on AMBA shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $115.00 price target on shares of Ambarella in a research note on Tuesday. Stifel Nicolaus set a $90.00 target price on shares of Ambarella in a research note on Friday, May 22nd. Finally, Consumer Edge reissued a “buy” rating on shares of Ambarella in a research note on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ambarella presently has an average rating of “Moderate Buy” and a consensus target price of $94.75.

Insider Buying and Selling at Ambarella

In other news, VP Chi-Hong Ju sold 4,729 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $52.77, for a total transaction of $249,549.33. Following the completion of the sale, the vice president owned 164,166 shares in the company, valued at $8,663,039.82. This trade represents a 2.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chan W. Lee sold 6,729 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $52.77, for a total transaction of $355,089.33. Following the sale, the insider owned 156,370 shares of the company’s stock, valued at $8,251,644.90. This represents a 4.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 103,899 shares of company stock valued at $5,921,677. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Ambarella

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Ambarella during the 4th quarter worth approximately $71,000. Kestra Advisory Services LLC acquired a new stake in Ambarella in the 4th quarter valued at approximately $88,000. Advisors Asset Management Inc. increased its holdings in Ambarella by 32.3% in the 4th quarter. Advisors Asset Management Inc. now owns 1,987 shares of the semiconductor company’s stock valued at $141,000 after purchasing an additional 485 shares during the last quarter. Empowered Funds LLC acquired a new stake in Ambarella in the 4th quarter valued at approximately $92,000. Finally, State of Wyoming increased its holdings in Ambarella by 28.8% in the 4th quarter. State of Wyoming now owns 1,176 shares of the semiconductor company’s stock valued at $83,000 after purchasing an additional 263 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

About Ambarella

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.