Rambus (RMBS) to Release Earnings on Monday

Rambus (NASDAQ:RMBS) is set to release its earnings data after the market closes on Monday, April 29th. Analysts expect Rambus to post earnings of $0.44 per share for the quarter. Rambus has set its Q1 2024 guidance at EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. Rambus had a return on equity of 17.70% and a net margin of 72.41%. The company had revenue of $136.00 million for the quarter, compared to analysts’ expectations of $134.00 million. On average, analysts expect Rambus to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Rambus Trading Down 3.2 %

RMBS stock opened at $54.68 on Monday. Rambus has a 12-month low of $43.58 and a 12-month high of $76.38. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 18.23 and a beta of 1.16. The business’s 50-day moving average is $59.94 and its 200 day moving average is $62.66.

Insiders Place Their Bets

In related news, CEO Luc Seraphin sold 5,530 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $58.66, for a total transaction of $324,389.80. Following the completion of the transaction, the chief executive officer now owns 262,791 shares in the company, valued at $15,415,320.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Xianzhi Sean Fan sold 2,004 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $55.00, for a total value of $110,220.00. Following the completion of the sale, the chief operating officer now directly owns 121,229 shares of the company’s stock, valued at $6,667,595. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Luc Seraphin sold 5,530 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $58.66, for a total transaction of $324,389.80. Following the completion of the sale, the chief executive officer now directly owns 262,791 shares of the company’s stock, valued at $15,415,320.06. The disclosure for this sale can be found here. Insiders sold a total of 121,084 shares of company stock worth $7,408,298 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Rambus

Institutional investors and hedge funds have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY grew its position in Rambus by 3.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 6,749 shares of the semiconductor company’s stock worth $242,000 after buying an additional 221 shares during the period. Profund Advisors LLC boosted its position in Rambus by 2.4% during the fourth quarter. Profund Advisors LLC now owns 11,272 shares of the semiconductor company’s stock worth $769,000 after acquiring an additional 264 shares during the last quarter. Advisor Partners II LLC raised its stake in Rambus by 2.5% during the first quarter. Advisor Partners II LLC now owns 11,028 shares of the semiconductor company’s stock worth $565,000 after purchasing an additional 274 shares during the period. West Tower Group LLC raised its stake in Rambus by 194.4% during the fourth quarter. West Tower Group LLC now owns 418 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 276 shares during the period. Finally, Guidance Capital Inc. raised its stake in shares of Rambus by 7.0% in the 4th quarter. Guidance Capital Inc. now owns 5,513 shares of the semiconductor company’s stock valued at $360,000 after acquiring an additional 362 shares during the period. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on RMBS shares. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 target price on shares of Rambus in a research note on Wednesday, March 13th. Wells Fargo & Company boosted their target price on Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Rambus has a consensus rating of “Moderate Buy” and an average price target of $73.20.

About Rambus

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.