Zacks: Analysts Expect Rambus Inc. (RMBS) Will Post Earnings of $0.23 Per Share

Equities research analysts expect Rambus Inc. (NASDAQ:RMBS) to report $0.23 earnings per share for the current quarter, according to Zacks. Two analysts have made estimates for Rambus’ earnings. Rambus reported earnings per share of $0.21 during the same quarter last year, which suggests a positive year over year growth rate of 9.5%. The business is scheduled to issue its next quarterly earnings results after the market closes on Monday, April 22nd.

According to Zacks, analysts expect that Rambus will report full year earnings of $0.91 per share for the current financial year, with EPS estimates ranging from $0.90 to $0.93. For the next year, analysts expect that the company will post earnings of $0.95 per share. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Rambus.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, January 28th. The semiconductor company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.07. The business had revenue of $102.00 million for the quarter, compared to the consensus estimate of $102.00 million. Rambus had a negative net margin of 28.74% and a positive return on equity of 8.05%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share.

Several analysts have recently weighed in on RMBS shares. ValuEngine raised shares of Rambus from a “sell” rating to a “hold” rating in a report on Monday, February 4th. BidaskClub raised shares of Rambus from a “strong sell” rating to a “sell” rating in a report on Friday, February 8th. Zacks Investment Research downgraded shares of Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, TheStreet raised shares of Rambus from a “d+” rating to a “c-” rating in a report on Friday, April 12th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Rambus currently has an average rating of “Buy” and a consensus price target of $13.00.

In related news, insider Luc Seraphin sold 37,825 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $10.26, for a total transaction of $388,084.50. Following the sale, the insider now owns 258,479 shares of the company’s stock, valued at $2,651,994.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David A. Shrigley sold 20,000 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $10.45, for a total transaction of $209,000.00. Following the sale, the director now directly owns 42,155 shares in the company, valued at approximately $440,519.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,540 shares of company stock worth $820,595. 1.00% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in Rambus by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 1,565,605 shares of the semiconductor company’s stock worth $12,007,000 after buying an additional 87,048 shares in the last quarter. Norges Bank purchased a new stake in shares of Rambus in the fourth quarter valued at about $13,318,000. CWM Advisors LLC purchased a new stake in shares of Rambus in the fourth quarter valued at about $77,000. Millennium Management LLC lifted its holdings in shares of Rambus by 91.3% in the fourth quarter. Millennium Management LLC now owns 400,453 shares of the semiconductor company’s stock valued at $3,071,000 after purchasing an additional 191,155 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Rambus by 7.1% in the fourth quarter. Legal & General Group Plc now owns 271,166 shares of the semiconductor company’s stock valued at $2,082,000 after purchasing an additional 18,022 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:RMBS traded up $0.15 during midday trading on Friday, hitting $11.89. The stock had a trading volume of 774,364 shares, compared to its average volume of 1,136,131. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.51 and a beta of 0.78. The company has a quick ratio of 7.52, a current ratio of 7.62 and a debt-to-equity ratio of 0.18. Rambus has a 1 year low of $7.17 and a 1 year high of $14.30.

About Rambus

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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