Ambarella (NASDAQ:AMBA) posted its quarterly earnings data on Tuesday, June 5th. The semiconductor company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04, Briefing.com reports. Ambarella had a return on equity of 1.42% and a net margin of 2.18%. The company had revenue of $56.90 million during the quarter, compared to analysts’ expectations of $56.13 million. During the same period in the prior year, the business earned $0.39 earnings per share. Ambarella’s revenue for the quarter was down 11.2% compared to the same quarter last year.
Ambarella traded up $0.14, hitting $43.30, during midday trading on Wednesday, MarketBeat.com reports. The stock had a trading volume of 519,169 shares, compared to its average volume of 1,949,836. The stock has a market cap of $1.45 billion, a P/E ratio of 78.72 and a beta of 1.24. Ambarella has a 52 week low of $40.06 and a 52 week high of $66.23.
Several equities research analysts have recently weighed in on the company. Roth Capital reduced their price objective on Ambarella from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, June 6th. BidaskClub raised Ambarella from a “strong sell” rating to a “sell” rating in a research report on Friday, April 13th. Morgan Stanley reduced their price objective on Ambarella from $65.00 to $58.00 and set an “overweight” rating for the company in a research report on Wednesday, June 6th. Oppenheimer reissued a “market perform” rating on shares of Ambarella in a research report on Wednesday, June 6th. Finally, ValuEngine cut Ambarella from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Ambarella has an average rating of “Hold” and a consensus price target of $56.95.
In other Ambarella news, insider Leslie Kohn sold 3,060 shares of Ambarella stock in a transaction on Friday, March 16th. The stock was sold at an average price of $53.07, for a total transaction of $162,394.20. Following the completion of the transaction, the insider now directly owns 907,740 shares of the company’s stock, valued at $48,173,761.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Feng-Ming Wang sold 6,024 shares of Ambarella stock in a transaction on Friday, March 16th. The shares were sold at an average price of $53.07, for a total value of $319,693.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,882 shares of company stock valued at $683,648. Company insiders own 5.84% of the company’s stock.
Ambarella Company Profile
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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