Ambarella, Inc. (NASDAQ:AMBA – Get Rating) – Research analysts at Jefferies Financial Group reduced their Q3 2023 EPS estimates for Ambarella in a research note issued to investors on Monday, November 21st. Jefferies Financial Group analyst D. Kelley now expects that the semiconductor company will post earnings of ($0.44) per share for the quarter, down from their prior estimate of ($0.42). The consensus estimate for Ambarella’s current full-year earnings is ($1.55) per share. Jefferies Financial Group also issued estimates for Ambarella’s Q4 2023 earnings at ($0.44) EPS, FY2023 earnings at ($1.57) EPS, Q1 2024 earnings at ($0.45) EPS, Q2 2024 earnings at ($0.43) EPS, Q3 2024 earnings at ($0.36) EPS, Q4 2024 earnings at ($0.33) EPS and FY2024 earnings at ($1.58) EPS.
Ambarella (NASDAQ:AMBA – Get Rating) last issued its quarterly earnings results on Tuesday, August 30th. The semiconductor company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.07). Ambarella had a negative net margin of 12.14% and a negative return on equity of 6.88%. The business had revenue of $80.90 million during the quarter, compared to analyst estimates of $80.21 million. During the same period in the prior year, the business posted ($0.18) earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year.
Ambarella Stock Down 0.2 %
Shares of NASDAQ AMBA opened at $72.17 on Wednesday. Ambarella has a 12 month low of $49.02 and a 12 month high of $227.59. The company has a market cap of $2.77 billion, a P/E ratio of -63.31 and a beta of 1.48. The business’s 50 day moving average is $59.20 and its two-hundred day moving average is $70.14.
Insider Transactions at Ambarella
In related news, CTO Leslie Kohn sold 6,179 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $58.95, for a total value of $364,252.05. Following the completion of the sale, the chief technology officer now owns 899,478 shares of the company’s stock, valued at $53,024,228.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Feng-Ming Wang sold 3,736 shares of Ambarella stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $63.25, for a total transaction of $236,302.00. Following the completion of the sale, the chief executive officer now owns 693,625 shares in the company, valued at approximately $43,871,781.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Leslie Kohn sold 6,179 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $58.95, for a total transaction of $364,252.05. Following the completion of the transaction, the chief technology officer now owns 899,478 shares in the company, valued at $53,024,228.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,246 shares of company stock worth $937,852. Corporate insiders own 6.60% of the company’s stock.
Institutional Trading of Ambarella
Institutional investors and hedge funds have recently made changes to their positions in the business. Comerica Bank increased its holdings in Ambarella by 2.0% in the first quarter. Comerica Bank now owns 9,801 shares of the semiconductor company’s stock valued at $879,000 after purchasing an additional 194 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Ambarella by 45.6% during the first quarter. Daiwa Securities Group Inc. now owns 619 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 194 shares during the period. Mutual of America Capital Management LLC bought a new stake in Ambarella in the first quarter valued at approximately $3,403,000. Arizona State Retirement System raised its holdings in Ambarella by 1.5% in the first quarter. Arizona State Retirement System now owns 9,911 shares of the semiconductor company’s stock worth $1,040,000 after purchasing an additional 147 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Ambarella by 43.7% during the first quarter. Envestnet Asset Management Inc. now owns 16,393 shares of the semiconductor company’s stock worth $1,720,000 after purchasing an additional 4,984 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.
Ambarella Company Profile
Ambarella, Inc develops semiconductor solutions for video that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.
- Get a free copy of the StockNews.com research report on Ambarella (AMBA)
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Institutional Support for Analog Devices Remains High
- Is the 60/40 Portfolio Mix Still in Vogue?
- Microsoft Shares: Is it Time to Back Up the Truck?
- Three CBD Stocks to Dominate a Budding Industry
Receive News & Ratings for Ambarella Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ambarella and related companies with MarketBeat.com's FREE daily email newsletter.