Analysts Expect Rambus, Inc. (NASDAQ:RMBS) Will Post Quarterly Sales of $99.00 Million
Wall Street analysts expect Rambus, Inc. (NASDAQ:RMBS) to report sales of $99.00 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Rambus’ earnings. The highest sales estimate is $99.00 million and the lowest is $98.99 million. Rambus reported sales of $89.86 million in the same quarter last year, which indicates a positive year over year growth rate of 10.2%. The company is expected to issue its next earnings results on Monday, October 23rd.
On average, analysts expect that Rambus will report full year sales of $99.00 million for the current year, with estimates ranging from $391.42 million to $392.10 million. For the next fiscal year, analysts expect that the firm will post sales of $413.83 million per share, with estimates ranging from $406.46 million to $421.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Rambus.
Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, July 24th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. Rambus had a net margin of 1.76% and a return on equity of 9.28%. The company had revenue of $94.70 million during the quarter, compared to the consensus estimate of $93 million. During the same period in the previous year, the firm earned $0.15 earnings per share. Rambus’s revenue for the quarter was up 23.8% on a year-over-year basis.
A number of analysts have recently weighed in on the company. BidaskClub downgraded Rambus from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. TheStreet upgraded Rambus from a “c” rating to a “b-” rating in a research report on Monday, April 24th. Zacks Investment Research upgraded Rambus from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Saturday, July 29th. Finally, Jefferies Group LLC restated a “hold” rating and set a $14.00 price objective (up from $13.50) on shares of Rambus in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Rambus currently has a consensus rating of “Buy” and a consensus price target of $15.10.
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In other Rambus news, SVP Laura Stark sold 3,644 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $12.06, for a total value of $43,946.64. Following the completion of the transaction, the senior vice president now directly owns 209,176 shares in the company, valued at $2,522,662.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Shrigley sold 5,000 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $12.98, for a total value of $64,900.00. Following the completion of the transaction, the director now owns 46,253 shares of the company’s stock, valued at $600,363.94. The disclosure for this sale can be found here. Insiders sold 59,927 shares of company stock valued at $760,522 over the last quarter. Corporate insiders own 2.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of RMBS. Karp Capital Management Corp purchased a new position in Rambus during the first quarter valued at approximately $350,000. UBS Asset Management Americas Inc. boosted its stake in shares of Rambus by 32.5% in the first quarter. UBS Asset Management Americas Inc. now owns 54,002 shares of the semiconductor company’s stock valued at $710,000 after buying an additional 13,261 shares during the last quarter. LS Investment Advisors LLC boosted its stake in shares of Rambus by 88.5% in the first quarter. LS Investment Advisors LLC now owns 7,648 shares of the semiconductor company’s stock valued at $100,000 after buying an additional 3,590 shares during the last quarter. Comerica Bank boosted its stake in shares of Rambus by 4.9% in the first quarter. Comerica Bank now owns 123,161 shares of the semiconductor company’s stock valued at $1,578,000 after buying an additional 5,759 shares during the last quarter. Finally, Cambiar Investors LLC boosted its stake in shares of Rambus by 4.0% in the first quarter. Cambiar Investors LLC now owns 1,615,818 shares of the semiconductor company’s stock valued at $21,232,000 after buying an additional 61,481 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.
Shares of Rambus (NASDAQ RMBS) opened at 12.75 on Tuesday. The firm’s 50-day moving average is $12.50 and its 200 day moving average is $12.56. The stock has a market capitalization of $1.39 billion, a P/E ratio of 212.50 and a beta of 0.90. Rambus has a 1-year low of $11.30 and a 1-year high of $14.50.
Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.
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