Rambus, Inc. (RMBS) Expected to Post Quarterly Sales of $99.00 Million
Equities research analysts expect Rambus, Inc. (NASDAQ:RMBS) to announce $99.00 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Rambus’ earnings. The lowest sales estimate is $98.99 million and the highest is $99.00 million. Rambus posted sales of $89.86 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10.2%. The firm is scheduled to announce its next quarterly earnings results on Monday, October 23rd.
On average, analysts expect that Rambus will report full year sales of $99.00 million for the current fiscal year, with estimates ranging from $391.42 million to $392.10 million. For the next financial year, analysts forecast that the business 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 averages are an average based on a survey of research firms that cover Rambus.
Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, July 24th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $93.00 million. During the same quarter in the prior year, the company earned $0.15 EPS. The firm’s revenue was up 23.8% on a year-over-year basis.
Several research analysts have commented on the stock. Zacks Investment Research raised shares of Rambus from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Saturday, August 26th. BidaskClub lowered shares of Rambus from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Loop Capital reaffirmed a “buy” rating and set a $16.00 price objective on shares of Rambus in a research note on Tuesday, August 22nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $14.00 price objective (up from $13.50) on shares of Rambus in a research note on Tuesday, July 25th. Finally, TheStreet lowered shares of Rambus from a “b-” rating to a “c+” rating in a research note on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $14.63.
Shares of Rambus (RMBS) opened at 13.35 on Thursday. The stock has a 50 day moving average of $12.90 and a 200-day moving average of $12.59. The stock has a market cap of $1.46 billion, a PE ratio of 222.50 and a beta of 0.91. Rambus has a 52 week low of $11.30 and a 52 week high of $14.39.
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In other news, SVP Laura Stark sold 3,491 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $12.90, for a total transaction of $45,033.90. Following the completion of the sale, the senior vice president now directly owns 208,474 shares of the company’s stock, valued at $2,689,314.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jae Kim sold 42,449 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $12.71, for a total transaction of $539,526.79. Following the sale, the senior vice president now directly owns 120,126 shares of the company’s stock, valued at $1,526,801.46. The disclosure for this sale can be found here. Insiders have sold 60,348 shares of company stock valued at $769,258 over the last three months. Insiders own 2.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of RMBS. BlackRock Inc. boosted its stake in shares of Rambus by 17,759.2% during the first quarter. BlackRock Inc. now owns 14,458,840 shares of the semiconductor company’s stock valued at $189,990,000 after purchasing an additional 14,377,880 shares during the period. Primecap Management Co. CA lifted its stake in Rambus by 10.1% in the first quarter. Primecap Management Co. CA now owns 9,589,497 shares of the semiconductor company’s stock worth $126,006,000 after acquiring an additional 881,225 shares during the period. Renaissance Technologies LLC lifted its stake in Rambus by 40.1% in the second quarter. Renaissance Technologies LLC now owns 2,908,586 shares of the semiconductor company’s stock worth $33,245,000 after acquiring an additional 832,386 shares during the period. Teachers Advisors LLC lifted its stake in Rambus by 420.9% in the first quarter. Teachers Advisors LLC now owns 928,813 shares of the semiconductor company’s stock worth $12,205,000 after acquiring an additional 750,499 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Rambus by 5.5% in the first quarter. Vanguard Group Inc. now owns 9,847,561 shares of the semiconductor company’s stock worth $129,396,000 after acquiring an additional 513,316 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.
Rambus Company Profile
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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