Rambus (NASDAQ:RMBS) Releases Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Rambus (NASDAQ:RMBS) posted its quarterly earnings data on Monday. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12), Briefing.com reports. The firm had revenue of $132.10 million for the quarter, compared to the consensus estimate of $139.00 million. Rambus had a return on equity of 16.74% and a net margin of 48.31%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. Rambus updated its Q3 2024 guidance to EPS.

Rambus Trading Down 9.7 %

NASDAQ:RMBS traded down $4.99 on Thursday, hitting $46.45. The company’s stock had a trading volume of 959,895 shares, compared to its average volume of 1,475,026. Rambus has a one year low of $46.33 and a one year high of $76.38. The stock has a fifty day moving average of $58.00 and a two-hundred day moving average of $59.88. The firm has a market capitalization of $5.01 billion, a P/E ratio of 14.50 and a beta of 1.20.

Insider Activity

In other news, Director Eric B. Stang sold 5,408 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $56.95, for a total transaction of $307,985.60. Following the transaction, the director now owns 32,422 shares in the company, valued at $1,846,432.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RMBS shares. Susquehanna decreased their price target on shares of Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research note on Friday, July 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 target price (up previously from $72.00) on shares of Rambus in a research report on Monday, May 13th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $77.75.

About Rambus

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.