Wall Street analysts expect Rambus Inc. (NASDAQ:RMBS) to report sales of $99.00 million for the current quarter, Zacks reports. Three analysts have provided estimates for Rambus’ earnings, with the lowest sales estimate coming in at $99.00 million and the highest estimate coming in at $99.01 million. Rambus reported sales of $46.43 million in the same quarter last year, which indicates a positive year over year growth rate of 113.2%. The company is expected to report its next quarterly earnings report on Monday, May 6th.
On average, analysts expect that Rambus will report full-year sales of $401.47 million for the current year, with estimates ranging from $401.00 million to $402.20 million. For the next financial year, analysts expect that the business will post sales of $426.77 million, with estimates ranging from $426.40 million to $427.14 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Rambus.
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Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, January 28th. The semiconductor company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.07. Rambus had a positive return on equity of 8.05% and a negative net margin of 28.74%. The firm had revenue of $102.00 million for the quarter, compared to analysts’ expectations of $102.00 million. During the same period in the prior year, the business posted $0.19 earnings per share. The business’s revenue was up .0% compared to the same quarter last year.
A number of analysts have weighed in on the company. BidaskClub upgraded Rambus from a “strong sell” rating to a “sell” rating in a research report on Friday. Deutsche Bank lowered their price target on Rambus from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, October 30th. TheStreet cut Rambus from a “c-” rating to a “d” rating in a research report on Tuesday, October 30th. Zacks Investment Research raised Rambus from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Saturday, February 2nd. Finally, ValuEngine raised Rambus from a “sell” rating to a “hold” rating in a research note on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $13.00.
In other Rambus news, SVP Jae Kim sold 21,215 shares of the business’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $9.33, for a total value of $197,935.95. Following the transaction, the senior vice president now owns 103,068 shares of the company’s stock, valued at $961,624.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.20% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in 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 during the period. BlackRock Inc. increased its holdings in shares of Rambus by 5.2% in the third quarter. BlackRock Inc. now owns 15,598,744 shares of the semiconductor company’s stock worth $170,182,000 after acquiring an additional 777,922 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Rambus by 11.4% in the third quarter. Dimensional Fund Advisors LP now owns 5,576,058 shares of the semiconductor company’s stock worth $60,835,000 after acquiring an additional 570,825 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new stake in shares of Rambus in the fourth quarter worth about $41,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Rambus in the third quarter worth about $3,193,000. 76.63% of the stock is currently owned by institutional investors.
NASDAQ:RMBS traded down $0.21 during trading hours on Tuesday, reaching $9.84. The company had a trading volume of 11,215 shares, compared to its average volume of 1,527,355. Rambus has a one year low of $7.17 and a one year high of $14.30. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 1.35 and a beta of 0.74. The company has a debt-to-equity ratio of 0.18, a current ratio of 7.62 and a quick ratio of 7.52.
Rambus Inc provides semiconductor products in South Korea and internationally. The company operates through Memory and Interfaces, Security, and Other segments. It focuses on the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces; and design, development, deployment, and licensing of technologies for chip, system and in-field application security, anti-counterfeiting, smart ticketing, and mobile payments.
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