Rambus (NASDAQ:RMBS) Posts Earnings Results, Beats Estimates By $0.05 EPS

Rambus (NASDAQ:RMBS) posted its quarterly earnings results on Monday. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05, FiscalAI reports. The business had revenue of $207.39 million during the quarter, compared to analyst estimates of $199.30 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%.

Rambus Stock Performance

Shares of NASDAQ RMBS traded up $0.41 during trading hours on Monday, hitting $96.42. The stock had a trading volume of 4,024,794 shares, compared to its average volume of 2,691,602. The company has a market capitalization of $10.43 billion, a P/E ratio of 45.91 and a beta of 1.84. The firm’s 50-day moving average price is $128.78 and its two-hundred day moving average price is $114.40. Rambus has a 52 week low of $63.30 and a 52 week high of $174.10.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RMBS shares. Wells Fargo & Company boosted their price objective on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Robert W. Baird downgraded shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price for the company. in a research report on Tuesday, April 28th. Evercore reissued an “outperform” rating and set a $172.00 target price on shares of Rambus in a research note on Tuesday, April 28th. Jefferies Financial Group boosted their price target on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, Rosenblatt Securities upped their price target on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $134.75.

Insider Buying and Selling at Rambus

In other Rambus news, Director Emiko Higashi sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total value of $1,605,000.00. Following the completion of the sale, the director directly owned 49,519 shares of the company’s stock, valued at $7,947,799.50. The trade was a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Necip Sayiner sold 5,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the transaction, the director owned 18,223 shares in the company, valued at approximately $3,100,643.45. This trade represents a 21.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 62,914 shares of company stock worth $9,724,775 in the last ninety days. Insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Rambus

A number of large investors have recently bought and sold shares of the business. Acumen Wealth Advisors LLC acquired a new position in Rambus during the fourth quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Rambus in the fourth quarter worth about $28,000. IFP Advisors Inc lifted its position in shares of Rambus by 126.7% in the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after buying an additional 247 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Rambus by 83.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 353 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of Rambus by 1,194.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 505 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 466 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

Rambus Company Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.