Rambus (NASDAQ:RMBS) Issues Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Rambus (NASDAQ:RMBS) issued its 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 analyst estimates of $139.00 million. Rambus had a net margin of 48.31% and a return on equity of 16.88%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. Rambus updated its Q3 2024 guidance to EPS.

Rambus Trading Up 5.9 %

Shares of Rambus stock traded up $2.86 during trading on Wednesday, reaching $51.44. The company’s stock had a trading volume of 2,792,889 shares, compared to its average volume of 1,478,554. The company has a 50-day moving average price of $58.16 and a two-hundred day moving average price of $59.94. The firm has a market cap of $5.54 billion, a PE ratio of 14.86 and a beta of 1.20. Rambus has a fifty-two week low of $48.10 and a fifty-two week high of $76.38.

Analyst Ratings Changes

RMBS has been the topic of several analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 target price (up previously from $72.00) on shares of Rambus in a report on Monday, May 13th. Susquehanna cut their price objective on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a report on Friday, July 26th. One equities research 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, the company has an average rating of “Moderate Buy” and an average price target of $77.75.

Insider Activity

In other news, Director Eric B. Stang sold 5,408 shares of Rambus 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 transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.