Brokerages Expect Rambus Inc. (RMBS) Will Post Quarterly Sales of $96.34 Million

Wall Street analysts expect Rambus Inc. (NASDAQ:RMBS) to post sales of $96.34 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Rambus’ earnings, with the lowest sales estimate coming in at $96.00 million and the highest estimate coming in at $97.00 million. Rambus posted sales of $98.82 million during the same quarter last year, which suggests a negative year over year growth rate of 2.5%. The business is scheduled to issue its next earnings report on Monday, July 29th.

On average, analysts expect that Rambus will report full-year sales of $401.07 million for the current financial year, with estimates ranging from $400.20 million to $401.80 million. For the next fiscal year, analysts anticipate that the firm will post sales of $421.28 million, with estimates ranging from $411.10 million to $427.14 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Rambus.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, April 22nd. The semiconductor company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.36). The company had revenue of $100.20 million for the quarter, compared to analyst estimates of $99.00 million. Rambus had a positive return on equity of 5.11% and a negative net margin of 25.04%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the business posted $0.21 earnings per share.

Several brokerages have commented on RMBS. BidaskClub upgraded shares of Rambus from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Zacks Investment Research downgraded shares of Rambus from a “hold” rating to a “sell” rating in a report on Saturday, April 27th. TheStreet upgraded shares of Rambus from a “d+” rating to a “c-” rating in a report on Friday, April 12th. ValuEngine upgraded shares of Rambus from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Deutsche Bank raised their target price on shares of Rambus from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Rambus presently has an average rating of “Hold” and a consensus price target of $13.25.

In other news, Director David A. Shrigley sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $10.45, for a total transaction of $209,000.00. Following the completion of the transaction, the director now directly owns 42,155 shares of the company’s stock, valued at approximately $440,519.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ellis Thomas Fisher sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $10.23, for a total transaction of $25,575.00. The disclosure for this sale can be found here. Insiders have sold a total of 62,999 shares of company stock valued at $653,143 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in RMBS. JPMorgan Chase & Co. grew its stake in shares of Rambus by 95.5% in the third quarter. JPMorgan Chase & Co. now owns 3,950,490 shares of the semiconductor company’s stock valued at $43,099,000 after buying an additional 1,929,517 shares in the last quarter. Norges Bank bought a new position in shares of Rambus in the fourth quarter valued at $13,318,000. Assenagon Asset Management S.A. grew its stake in shares of Rambus by 573.2% in the first quarter. Assenagon Asset Management S.A. now owns 554,217 shares of the semiconductor company’s stock valued at $5,792,000 after buying an additional 471,886 shares in the last quarter. BlackRock Inc. grew its stake in shares of Rambus by 2.6% in the first quarter. BlackRock Inc. now owns 16,288,659 shares of the semiconductor company’s stock valued at $170,215,000 after buying an additional 414,100 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Rambus by 245.2% in the fourth quarter. Two Sigma Investments LP now owns 550,375 shares of the semiconductor company’s stock valued at $4,221,000 after buying an additional 390,947 shares in the last quarter. 76.98% of the stock is owned by institutional investors and hedge funds.

RMBS stock traded down $0.01 during mid-day trading on Tuesday, hitting $11.64. 392,622 shares of the company were exchanged, compared to its average volume of 710,410. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.75 and a current ratio of 7.87. The company has a market capitalization of $1.29 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 1.63 and a beta of 0.82. Rambus has a 1-year low of $7.17 and a 1-year high of $13.88.

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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Earnings History and Estimates for Rambus (NASDAQ:RMBS)

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