Equities analysts forecast that Rambus Inc. (NASDAQ:RMBS) will announce $0.23 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Rambus’ earnings. Rambus posted earnings per share of $0.22 in the same quarter last year, which indicates a positive year-over-year growth rate of 4.5%. The company is expected to announce its next earnings report on Monday, November 4th.
On average, analysts expect that Rambus will report full year earnings of $0.93 per share for the current year, with EPS estimates ranging from $0.91 to $0.94. For the next fiscal year, analysts expect that the firm will report earnings of $0.96 per share, with EPS estimates ranging from $0.95 to $0.98. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Rambus.
Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, July 29th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.21). The company had revenue of $58.30 million during the quarter, compared to the consensus estimate of $96.25 million. Rambus had a negative net margin of 35.34% and a positive return on equity of 2.52%. The firm’s revenue was down 41.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 earnings per share.
Several research analysts have weighed in on RMBS shares. Zacks Investment Research raised shares of Rambus from a “sell” rating to a “hold” rating in a report on Wednesday, June 26th. Wells Fargo & Co increased their price target on shares of Rambus from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Citigroup increased their price target on shares of Rambus from $13.10 to $15.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. ValuEngine cut shares of Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BidaskClub cut shares of Rambus from a “buy” rating to a “hold” rating in a report on Saturday, August 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Rambus has a consensus rating of “Buy” and a consensus price target of $13.60.
Rambus stock traded up $0.32 during trading hours on Friday, hitting $13.30. The company had a trading volume of 449,601 shares, compared to its average volume of 688,421. The firm has a market cap of $1.43 billion, a PE ratio of 17.50, a PEG ratio of 1.73 and a beta of 0.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.59 and a quick ratio of 7.48. Rambus has a one year low of $7.17 and a one year high of $14.29. The firm has a 50-day moving average of $12.87 and a 200 day moving average of $12.00.
In other news, SVP Jae Kim sold 2,297 shares of the firm’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 transaction of $29,861.00. Following the transaction, the senior vice president now directly owns 134,025 shares of the company’s stock, valued at $1,742,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Luc Seraphin sold 29,855 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $13.99, for a total transaction of $417,671.45. Following the transaction, the chief executive officer now directly owns 231,097 shares in the company, valued at $3,233,047.03. The disclosure for this sale can be found here. Insiders have sold 44,106 shares of company stock worth $607,511 over the last ninety days. Insiders own 1.00% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Rambus by 0.8% during the second quarter. BlackRock Inc. now owns 16,414,147 shares of the semiconductor company’s stock worth $197,627,000 after purchasing an additional 125,488 shares during the period. Vanguard Group Inc. increased its holdings in shares of Rambus by 5.3% during the second quarter. Vanguard Group Inc. now owns 11,674,352 shares of the semiconductor company’s stock worth $140,560,000 after purchasing an additional 590,445 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in Rambus by 29.9% in the second 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 acquiring an additional 474,400 shares during the last quarter. Nuveen Asset Management LLC bought a new position in Rambus in the second quarter valued at approximately $21,507,000. Finally, Northern Trust Corp increased its stake in Rambus by 3.3% in the second quarter. Northern Trust Corp now owns 1,427,713 shares of the semiconductor company’s stock valued at $17,189,000 after acquiring an additional 45,826 shares during the last quarter. 78.77% of the stock is currently owned by institutional investors.
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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