Rambus (NASDAQ:RMBS) Posts Earnings Results, Misses Estimates By $0.12 EPS

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

Rambus Stock Up 4.3 %

NASDAQ:RMBS traded up $2.09 during mid-day trading on Wednesday, hitting $50.67. 581,357 shares of the company traded hands, compared to its average volume of 1,463,407. The stock’s fifty day moving average price is $58.16 and its 200-day moving average price is $59.94. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 14.86 and a beta of 1.20. Rambus has a one year low of $48.10 and a one year high of $76.38.

Insider Activity

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Jefferies Financial Group reaffirmed 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. Susquehanna decreased their price objective on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Rambus presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.75.

Rambus Company Profile

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.