Rambus, Inc. (RMBS) Releases Earnings Results, Beats Estimates By $0.02 EPS
Rambus, Inc. (NASDAQ:RMBS) posted its quarterly earnings results on Monday. The semiconductor company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.02, Bloomberg Earnings reports. Rambus had a net margin of 1.76% and a return on equity of 9.28%. The business had revenue of $99.10 million for the quarter, compared to the consensus estimate of $99.00 million. During the same period in the prior year, the business posted $0.16 earnings per share. Rambus’s revenue for the quarter was up 10.2% compared to the same quarter last year. Rambus updated its Q4 guidance to $0.16-0.20 EPS.
Rambus (NASDAQ RMBS) traded up 2.91% during midday trading on Tuesday, reaching $14.15. 748,844 shares of the company’s stock were exchanged. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 235.83 and a beta of 0.82. Rambus has a 52 week low of $11.30 and a 52 week high of $14.39. The firm has a 50-day moving average price of $13.41 and a 200 day moving average price of $12.69.
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In other news, SVP Laura Stark sold 3,069 shares of the business’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $13.65, for a total transaction of $41,891.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jae Kim sold 42,449 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $12.71, for a total transaction of $539,526.79. Following the transaction, the senior vice president now owns 120,126 shares in the company, valued at $1,526,801.46. The disclosure for this sale can be found here. Insiders have sold a total of 72,799 shares of company stock worth $941,231 over the last 90 days. 2.00% of the stock is owned by company insiders.
A number of equities analysts have recently weighed in on RMBS shares. J P Morgan Chase & Co downgraded shares of Rambus from an “overweight” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research note on Friday, September 22nd. Zacks Investment Research raised shares of Rambus from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Saturday, July 29th. BidaskClub raised shares of Rambus from a “sell” rating to a “hold” rating in a research report on Friday, July 14th. Jefferies Group LLC reissued a “hold” rating and set a $14.00 target price (up from $13.50) on shares of Rambus in a research report on Tuesday, July 25th. Finally, Loop Capital reissued a “buy” rating and set a $16.00 target price on shares of Rambus in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.75.
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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