Ambarella (AMBA), the maker of chips for GoPro (GPRO) action cameras as well drones, automobiles and other markets, late Thursday posted fiscal Q2 earnings that plummeted but crushed expectations, and sales that beat, but it forecasts a small gross profit margin for the current quarter.
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If we have a peek on EPS and surprise factor history during last four quarters, for the previous quarter ended on 4/2016, the consensus mean EPS was $0.02 while the company reported $0.05 EPS on 6/2/2016 After Market Close with a difference of 0.03 marking a surprise factor of 150.00%.
For the current quarter, r the company sees revenue of $95 million to $99 million, and gross profit of 63.5% to 65%. Ladenburg Thalmann Financial Services Inc. now owns 17,285 shares of the company’s stock valued at $207,000 after buying an additional 2,645 shares during the last quarter. Sales fell 23% to $65.1 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share. Barclays PLC reaffirmed an equal weight rating and set a $12.00 price target on shares of GoPro in a research report on Thursday, July 28th. Ambarella has the best rating possible, A+, indicating that mutual funds are buying (that is, accumulating) shares. Deutsche Bank AG boosted their target price on shares of Ambarella from $45.00 to $47.00 and gave the stock a hold rating in a research report on Monday, June 6th.
IBD’S TAKE: Ambarella’s stock ratings have been improving fast since its runup began this spring, but one every investor should keep in mind is the Accumulation/Distribution Rating. The stock has relative volume of 0.58. The average volume stands around 6.61 million shares. The company’s 50 day moving average price is $13.45 and its 200-day moving average price is $12.01.
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Broadcom Ltd (NASDAQ: AVGO) was down nearly 2 percent even though its Q3 EPS of 2.89 and revenue of $3.79 billion beat expectations by $0.12 and $30 million. The average numbers of shares are traded in a security per day, during the recent 3-month period. The shares were sold at an average price of $10.79, for a total transaction of $104,706.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The shares were sold at an average price of $15.58, for a total transaction of $623,200.00. Seven Eight Capital LLC now owns 11,101 shares of the company’s stock valued at $133,000 after buying an additional 10,813 shares in the last quarter.
