Rambus (NASDAQ:RMBS) Announces Quarterly Earnings Results

Rambus (NASDAQ:RMBS) issued its quarterly earnings results on Monday. The semiconductor company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12), Briefing.com reports. Rambus had a return on equity of 16.88% and a net margin of 48.31%. The business had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $139.00 million. During the same period in the prior year, the company earned $0.36 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Rambus updated its Q3 2024 guidance to EPS.

Rambus Trading Up 3.9 %

Shares of NASDAQ RMBS opened at $50.49 on Wednesday. Rambus has a 12-month low of $48.10 and a 12-month high of $76.38. The stock has a fifty day moving average price of $58.16 and a 200 day moving average price of $59.94. The company has a market cap of $5.44 billion, a P/E ratio of 14.86 and a beta of 1.20.

Analyst Upgrades and Downgrades

RMBS has been the topic of several recent analyst reports. Susquehanna reduced their target price on Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research report on Friday, July 26th. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 price objective (up from $72.00) on shares of Rambus in a report on Monday, May 13th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $77.75.

Insider Activity

In other news, Director Eric B. Stang sold 5,408 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $56.95, for a total value of $307,985.60. Following the completion of the transaction, the director now directly owns 32,422 shares in the company, valued at $1,846,432.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

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.