Ambarella, Inc. (NASDAQ:AMBA – Get Rating) – Analysts at Zacks Research reduced their Q3 2023 EPS estimates for shares of Ambarella in a research note issued to investors on Tuesday, September 13th. Zacks Research analyst A. Bhagat now expects that the semiconductor company will post earnings of ($0.38) per share for the quarter, down from their prior forecast of ($0.30). The consensus estimate for Ambarella's current full-year earnings is ($1.48) per share. Zacks Research also issued estimates for Ambarella's Q4 2023 earnings at ($0.38) EPS, FY2023 earnings at ($1.44) EPS, Q1 2024 earnings at ($0.37) EPS, Q2 2024 earnings at ($0.35) EPS, Q3 2024 earnings at ($0.35) EPS, Q4 2024 earnings at ($0.28) EPS, FY2024 earnings at ($1.36) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.26) EPS and FY2025 earnings at ($0.92) EPS.
Get Ambarella alerts:Ambarella (NASDAQ:AMBA – Get Rating) last released its earnings results on Tuesday, August 30th. The semiconductor company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. The firm had revenue of $80.90 million during the quarter, compared to analyst estimates of $80.21 million. Ambarella had a negative net margin of 12.14% and a negative return on equity of 6.88%. The business's revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.18) EPS.
A number of other brokerages have also commented on AMBA. KeyCorp cut their price objective on shares of Ambarella from $120.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, August 31st. Stifel Nicolaus cut their price objective on shares of Ambarella from $100.00 to $94.00 and set a "buy" rating for the company in a research report on Wednesday, August 31st. Cowen cut their price objective on shares of Ambarella from $180.00 to $135.00 in a research report on Wednesday, June 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Ambarella from $100.00 to $75.00 in a research report on Wednesday, July 20th. Finally, Rosenblatt Securities lowered their target price on shares of Ambarella from $125.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, August 31st. Two analysts have rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $125.13.Ambarella Stock Performance
Shares of AMBA opened at $64.93 on Friday. The company has a 50-day simple moving average of $77.51 and a 200-day simple moving average of $81.18. The firm has a market capitalization of $2.49 billion, a P/E ratio of -56.96 and a beta of 1.52. Ambarella has a 52 week low of $60.50 and a 52 week high of $227.59.
Institutional Trading of Ambarella
Several large investors have recently added to or reduced their stakes in AMBA. 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. Advisors Asset Management Inc. raised its holdings in Ambarella by 9.6% in the second quarter. Advisors Asset Management Inc. now owns 1,685 shares of the semiconductor company's stock worth $110,000 after purchasing an additional 148 shares during the period. Nisa Investment Advisors LLC raised its holdings in Ambarella by 11.0% in the second quarter. Nisa Investment Advisors LLC now owns 1,508 shares of the semiconductor company's stock worth $99,000 after purchasing an additional 150 shares during the period. Prudential Financial Inc. raised its holdings in Ambarella by 4.9% in the second quarter. Prudential Financial Inc. now owns 3,406 shares of the semiconductor company's stock worth $232,000 after purchasing an additional 159 shares during the period. Finally, Wrapmanager Inc. raised its holdings in Ambarella by 4.9% in the second quarter. Wrapmanager Inc. now owns 3,495 shares of the semiconductor company's stock worth $229,000 after purchasing an additional 162 shares during the period. 76.77% of the stock is owned by institutional investors.
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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