Rambus (NASDAQ:RMBS) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Rambus (NASDAQ:RMBS) announced its quarterly earnings data on Monday. The semiconductor company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.05, FiscalAI reports. Rambus had a return on equity of 17.89% and a net margin of 31.69%. The business had revenue of $218.29 million during the quarter, compared to analyst estimates of $213.21 million.

Rambus Trading Up 5.5%

Shares of NASDAQ RMBS traded up $4.67 during mid-day trading on Monday, reaching $90.32. The company had a trading volume of 3,531,751 shares, compared to its average volume of 2,555,657. The stock has a market cap of $9.80 billion, a PE ratio of 41.43 and a beta of 1.85. The company has a 50-day moving average price of $94.16 and a two-hundred day moving average price of $112.08. Rambus has a 1-year low of $77.89 and a 1-year high of $174.10.

Wall Street Analyst Weigh In

RMBS has been the topic of several research reports. Benchmark reiterated a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research report on Wednesday, September 2nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Rambus in a research note on Tuesday, July 28th. Finally, Glj Research set a $165.00 target price on shares of Rambus in a report on Tuesday, July 28th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.88.

Rambus Company Profile

Rambus Inc is a semiconductor technology company that develops and licenses intellectual property for memory and data-processing systems. Its technologies are designed to support higher bandwidth, improved performance, reliability and security across data centers, artificial intelligence and high-performance computing platforms, as well as other computing and communications applications.

The company offers memory interface products and intellectual property, including solutions for DDR5 and other advanced memory architectures, high-bandwidth memory, memory modules and associated system components.