Zacks: Analysts Expect Rambus Inc. (NASDAQ:RMBS) to Post $0.23 EPS

Brokerages expect Rambus Inc. (NASDAQ:RMBS) to report earnings of $0.23 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Rambus’ earnings. Rambus reported earnings per share of $0.22 during the same quarter last year, which indicates a positive year-over-year growth rate of 4.5%. The company is scheduled to announce its next earnings report on Monday, November 4th.

On average, analysts expect that Rambus will report full year earnings of $0.93 per share for the current year, with EPS estimates ranging from $0.92 to $0.94. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.95 per share, with EPS estimates ranging from $0.93 to $0.98. Zacks’ EPS averages are an average based on a survey of analysts that cover Rambus.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, July 29th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.21). The firm had revenue of $58.30 million during the quarter, compared to analysts’ expectations of $96.25 million. Rambus had a positive return on equity of 2.52% and a negative net margin of 35.34%. The business’s revenue for the quarter was down 41.0% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share.

A number of analysts have recently issued reports on RMBS shares. ValuEngine raised shares of Rambus from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. BidaskClub cut shares of Rambus from a “buy” rating to a “hold” rating in a research note on Saturday, August 24th. Zacks Investment Research raised shares of Rambus from a “sell” rating to a “hold” rating in a research note on Wednesday, June 26th. Wells Fargo & Co raised their target price on shares of Rambus from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Citigroup raised their target price on shares of Rambus from $13.10 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Rambus presently has an average rating of “Buy” and an average price target of $13.60.

Shares of NASDAQ RMBS traded down $0.05 during midday trading on Thursday, reaching $13.59. The stock had a trading volume of 498,488 shares, compared to its average volume of 826,424. The stock has a 50-day moving average of $12.46 and a 200-day moving average of $11.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.48 and a current ratio of 7.59. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 1.87 and a beta of 0.67. Rambus has a 12-month low of $7.17 and a 12-month high of $14.29.

In other news, CEO Luc Seraphin sold 29,855 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $13.99, for a total value of $417,671.45. Following the completion of the sale, the chief executive officer now owns 231,097 shares in the company, valued at approximately $3,233,047.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jae Kim sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $14.08, for a total transaction of $42,240.00. Following the completion of the sale, the senior vice president now owns 134,728 shares of the company’s stock, valued at approximately $1,896,970.24. The disclosure for this sale can be found here. Insiders sold a total of 59,061 shares of company stock valued at $778,084 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of Rambus by 0.9% in the 2nd quarter. Royal Bank of Canada now owns 265,607 shares of the semiconductor company’s stock worth $3,198,000 after acquiring an additional 2,344 shares during the last quarter. United Services Automobile Association lifted its holdings in shares of Rambus by 78.4% in the 2nd quarter. United Services Automobile Association now owns 29,189 shares of the semiconductor company’s stock worth $351,000 after acquiring an additional 12,827 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Rambus in the 2nd quarter worth about $21,507,000. UBS Asset Management Americas Inc. lifted its holdings in shares of Rambus by 9.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 72,845 shares of the semiconductor company’s stock worth $877,000 after acquiring an additional 6,159 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Rambus by 4,124.8% in the 2nd quarter. Morgan Stanley now owns 1,180,656 shares of the semiconductor company’s stock worth $14,215,000 after acquiring an additional 1,152,710 shares during the last quarter. Hedge funds and other institutional investors own 78.77% of the company’s stock.

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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Earnings History and Estimates for Rambus (NASDAQ:RMBS)

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