Ambarella (NASDAQ:AMBA) Stock Hikes after Double Quarterly Profit – AMBA, NVDA, SIGM, SIMG

Ambarella Inc (NASDAQ:AMBA) announced on Friday that its fiscal Q4 profit over doubled as the manufacturer of image-processing chips observed expansion in the network security camera market. Quarterly results of the company top Wall Street forecasts.

The company declared fiscal fourth quarter non-GAAP net income was $0.18 a share after the end of trading session on Thursday, high from $0.08 a share in previous year.

Shares of Ambarella sharply hiked on Friday. Stock hiked 13.45% to settle at $13.58.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. NVIDIA Corporation (NASDAQ:NVDA) rose +0.47% to settle at $12.82, Sigma Designs Inc (NASDAQ:SIGM) moved up +0.92% to end at $4.40 while Silicon Image, Inc. (NASDAQ:SIMG) jumped +0.64% to finish at $4.71 on Friday.

Ambarella Inc (NASDAQ:AMBA) last session’s volume of 1.75 million shares was higher than its average volume of 191,650 shares. The stock after opening at $13.45 hit high price of $14.73 and then closed at $13.58 by scoring +13.45%.

AMBA generated revenue of $114.12 million in the previous twelve months and earned $5.67 million. The Company showed a positive 14.30% in the net profit margin as well as in its operating margin which remained at 16.11%. Company’s annual sales growth for the past five years was 98.70%.

The AMBA’s past twelve months’ price to sales ratio was 3.10 and price to cash ratio remained 3.74.

The stock showed weekly upbeat performance of 28.36% which was maintained for the month at 35.94%. Likewise the positive performance for the quarter was recorded as 51.22% and for the YTD performance remained at 21.79%.

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