Rambus, Inc. (RMBS) Releases Earnings Results, Beats Estimates By $0.01 EPS
Rambus, Inc. (NASDAQ:RMBS) posted its quarterly earnings results on Monday, July 24th. The semiconductor company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01, Bloomberg Earnings reports. Rambus had a net margin of 1.76% and a return on equity of 9.28%. The business had revenue of $94.70 million during the quarter, compared to analyst estimates of $93 million. During the same quarter in the previous year, the business posted $0.15 EPS. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. Rambus updated its Q3 guidance to $0.14-0.20 EPS.
Rambus (NASDAQ RMBS) traded down 0.47% on Friday, hitting $12.62. 483,415 shares of the company traded hands. Rambus has a 12 month low of $11.30 and a 12 month high of $14.50. The stock’s 50-day moving average is $12.62 and its 200 day moving average is $12.55. The firm has a market capitalization of $1.38 billion, a P/E ratio of 210.33 and a beta of 0.90.
RMBS has been the subject of several recent research reports. Jefferies Group LLC restated a “hold” rating and issued a $13.50 price target on shares of Rambus in a report on Tuesday, April 25th. TheStreet upgraded shares of Rambus from a “c” rating to a “b-” rating in a report on Monday, April 24th. Zacks Investment Research lowered shares of Rambus from a “hold” rating to a “sell” rating in a report on Saturday, April 29th. Finally, BidaskClub lowered shares of Rambus from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Rambus currently has a consensus rating of “Buy” and a consensus price target of $15.10.
In related news, SVP Laura Stark sold 3,644 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $12.06, for a total value of $43,946.64. Following the sale, the senior vice president now owns 209,176 shares of the company’s stock, valued at $2,522,662.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David A. Shrigley sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $12.98, for a total transaction of $64,900.00. Following the completion of the sale, the director now directly owns 46,253 shares in the company, valued at approximately $600,363.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,927 shares of company stock worth $760,522. 2.00% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Rambus by 17,759.2% in the first quarter. BlackRock Inc. now owns 14,458,840 shares of the semiconductor company’s stock valued at $189,990,000 after buying an additional 14,377,880 shares during the period. Vanguard Group Inc. boosted its stake in shares of Rambus by 1.9% in the second quarter. Vanguard Group Inc. now owns 10,036,227 shares of the semiconductor company’s stock valued at $114,714,000 after buying an additional 188,666 shares during the period. Primecap Management Co. CA boosted its stake in shares of Rambus by 10.1% in the first quarter. Primecap Management Co. CA now owns 9,589,497 shares of the semiconductor company’s stock valued at $126,006,000 after buying an additional 881,225 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Rambus by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,461,927 shares of the semiconductor company’s stock valued at $51,001,000 after buying an additional 112,208 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in shares of Rambus by 1.3% in the first quarter. Neuberger Berman Group LLC now owns 3,625,211 shares of the semiconductor company’s stock valued at $47,635,000 after buying an additional 46,970 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.
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Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.
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