Brokerages expect Rambus Inc. (NASDAQ:RMBS) to announce earnings of $0.25 per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Rambus’ earnings. Rambus reported earnings of $0.28 per share in the same quarter last year, which would suggest a negative year over year growth rate of 10.7%. The firm is expected to announce its next quarterly earnings report on Monday, January 27th.
According to Zacks, analysts expect that Rambus will report full-year earnings of $0.93 per share for the current fiscal year. For the next fiscal year, analysts forecast that the company will report earnings of $0.95 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Rambus.
Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, November 4th. The semiconductor company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.39). The firm had revenue of $57.40 million during the quarter, compared to analyst estimates of $89.00 million. Rambus had a negative net margin of 20.91% and a negative return on equity of 0.30%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share.
RMBS has been the subject of several research analyst reports. Wells Fargo & Co increased their price objective on Rambus from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. ValuEngine lowered shares of Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, BidaskClub cut shares of Rambus from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Rambus currently has a consensus rating of “Hold” and an average price target of $13.75.
In other news, Director Eric B. Stang sold 37,615 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $14.13, for a total value of $531,499.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jae Kim sold 2,297 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $13.00, for a total value of $29,861.00. Following the completion of the transaction, the senior vice president now directly owns 134,025 shares in the company, valued at approximately $1,742,325. The disclosure for this sale can be found here. Insiders sold 98,048 shares of company stock valued at $1,368,822 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Nuveen Asset Management LLC purchased a new position in Rambus in the 2nd quarter valued at $21,507,000. Morgan Stanley lifted its position in Rambus by 4,124.8% in the second quarter. Morgan Stanley now owns 1,180,656 shares of the semiconductor company’s stock valued at $14,215,000 after purchasing an additional 1,152,710 shares during the period. Millennium Management LLC lifted its position in Rambus by 950.1% in the third quarter. Millennium Management LLC now owns 539,801 shares of the semiconductor company’s stock valued at $7,084,000 after purchasing an additional 603,301 shares during the period. Vanguard Group Inc. lifted its position in Rambus by 5.3% in the second quarter. Vanguard Group Inc. now owns 11,674,352 shares of the semiconductor company’s stock valued at $140,560,000 after purchasing an additional 590,445 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Rambus by 29.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,063,050 shares of the semiconductor company’s stock valued at $24,838,000 after purchasing an additional 474,400 shares in the last quarter. 80.25% of the stock is owned by hedge funds and other institutional investors.
RMBS traded up $0.16 during trading on Wednesday, hitting $12.74. 350,974 shares of the stock were exchanged, compared to its average volume of 766,030. The company has a quick ratio of 7.32, a current ratio of 7.43 and a debt-to-equity ratio of 0.16. Rambus has a 1-year low of $7.17 and a 1-year high of $14.83. The stock has a fifty day moving average price of $13.55 and a two-hundred day moving average price of $12.59. The firm has a market capitalization of $1.42 billion, a P/E ratio of 16.76, a PEG ratio of 1.79 and a beta of 0.67.
Rambus Company Profile
Rambus Inc provides semiconductor products in the United States, Japan, Europe, Taiwan, China, South Korea, Canada, Singapore, Asia, and internationally. The company operates through three divisions: Memory and Interfaces, Rambus Security, and Emerging Solutions. The Memory and Interfaces division engages in the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces.
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