Ambarella Inc (AMBA) reported quarterly earnings results on Thursday, Jun-2-2016. The company said it had a profit of $0.34 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.28. The company posted revenue of $57.20 million in the period, compared to analysts expectations of $56.28 million. The company’s revenue was down -19.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.
Many Wall Street Analysts have commented on Ambarella Inc. Ambarella Inc was Upgraded by Morgan Stanley to ” Overweight” on Mar 29, 2016. Shares were Reiterated by Chardan Capital Markets on Mar 7, 2016 to “Neutral” and Lowered the Price Target to $ 50 from a previous price target of $90 .
Ambarella Inc opened for trading at $41 and hit $41.846 on the upside on Wednesday, eventually ending the session at $41.54, with a gain of 0.48% or 0.2 points. The heightened volatility saw the trading volume jump to 11,08,920 shares. Company has a market cap of $1,343 M.
In a different news, on Dec 30, 2015, Lip Bu Tan (director) sold 2,472 shares at $58.21 per share price. According to the SEC, on Dec 23, 2015, Christopher Day (VP, Marketing) sold 894 shares at $58.50 per share price. On Dec 18, 2015, Leslie Kohn (CTO) sold 5,890 shares at $56.97 per share price, according to the Form-4 filing with the securities and exchange commission.
Ambarella Inc. is a developer of semiconductor processing solutions for video that enable high-definition (HD) video capture sharing and display. The Company’s system-on-a-chip (SoC) designs HD video processing image processing audio processing and system functions onto a single chip delivering video and image. In the camera market its platform enables the creation of high-quality video content in wearable sports cameras automotive aftermarket cameras professional and consumer Internet Protocol (IP) security cameras telepresence cameras and unmanned aerial vehicles (UAVs). In the infrastructure market the Company’s solutions manage IP video traffic broadcast encoding and transcoding and IP video delivery applications. The Company sells its solutions to original design manufacturers (ODMs) and original equipment manufacturers (OEMs).