Research Analysts Offer Predictions for Ambarella, Inc.’s Q3 2023 Earnings (NASDAQ:AMBA)

Ambarella, Inc. (NASDAQ:AMBAGet 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:AMBAGet 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.

Several other research firms have also recently commented on AMBA. Rosenblatt Securities cut their target price on shares of Ambarella from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, August 31st. KeyCorp lowered their price target on Ambarella from $120.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 31st. Summit Insights cut shares of Ambarella from a “buy” rating to a “hold” rating in a research note on Wednesday, August 31st. Needham & Company LLC decreased their price objective on Ambarella from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, October 11th. Finally, Roth Capital reissued a “buy” rating and issued a $110.00 target price on shares of Ambarella in a report on Friday, November 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.33.

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

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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.

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Earnings History and Estimates for Ambarella (NASDAQ:AMBA)

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