Brokerages Anticipate Rambus Inc. (RMBS) Will Announce Quarterly Sales of $101.90 Million

Wall Street analysts expect that Rambus Inc. (NASDAQ:RMBS) will announce sales of $101.90 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Rambus’ earnings. The lowest sales estimate is $101.69 million and the highest is $102.00 million. Rambus reported sales of $101.89 million during the same quarter last year, which would suggest a positive year over year growth rate of 0%. The business is scheduled to report its next earnings report on Monday, February 4th.

On average, analysts expect that Rambus will report full year sales of $401.04 million for the current fiscal year, with estimates ranging from $400.81 million to $401.20 million. For the next financial year, analysts forecast that the firm will report sales of $401.76 million, with estimates ranging from $400.00 million to $404.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Rambus.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, October 29th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.23). The business had revenue of $59.80 million during the quarter, compared to analyst estimates of $100.00 million. Rambus had a negative net margin of 45.18% and a positive return on equity of 7.78%. The firm’s revenue for the quarter was down 39.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 earnings per share.

A number of research analysts have recently issued reports on RMBS shares. BidaskClub raised Rambus from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 24th. Roth Capital dropped their price objective on Rambus from $18.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, October 23rd. ValuEngine downgraded Rambus from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. TheStreet lowered Rambus from a “c-” rating to a “d” rating in a research report on Tuesday, October 30th. Finally, Zacks Investment Research raised Rambus from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Saturday, August 4th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $14.80.

Shares of NASDAQ:RMBS traded down $0.34 during midday trading on Monday, reaching $8.81. The company’s stock had a trading volume of 505,101 shares, compared to its average volume of 766,389. The company has a market capitalization of $992.78 million, a price-to-earnings ratio of 19.58, a P/E/G ratio of 1.21 and a beta of 0.51. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.02 and a quick ratio of 7.91. Rambus has a fifty-two week low of $7.30 and a fifty-two week high of $15.50.

In related news, Vice Chairman Charles Kissner sold 5,896 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $10.59, for a total value of $62,438.64. Following the completion of the sale, the insider now directly owns 33,347 shares of the company’s stock, valued at approximately $353,144.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Meadow Creek Investment Management LLC increased its position in Rambus by 30.9% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 20,272 shares of the semiconductor company’s stock valued at $254,000 after buying an additional 4,788 shares in the last quarter. Legal & General Group Plc increased its position in Rambus by 2.2% in the 1st quarter. Legal & General Group Plc now owns 228,832 shares of the semiconductor company’s stock valued at $3,066,000 after buying an additional 4,888 shares in the last quarter. Bank of America Corp DE increased its holdings in Rambus by 5.8% during the 2nd quarter. Bank of America Corp DE now owns 99,710 shares of the semiconductor company’s stock worth $1,250,000 after purchasing an additional 5,457 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Rambus by 8.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 86,502 shares of the semiconductor company’s stock worth $944,000 after purchasing an additional 6,583 shares in the last quarter. Finally, Summit Global Investments increased its holdings in Rambus by 15.5% during the 2nd quarter. Summit Global Investments now owns 49,300 shares of the semiconductor company’s stock worth $618,000 after purchasing an additional 6,600 shares in the last quarter. 80.39% of the stock is owned by institutional investors and hedge funds.

Rambus Company Profile

Rambus Inc provides semiconductor products in South Korea and internationally. The company operates through Memory and Interfaces, Security, and Other segments. It focuses on the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces; and design, development, deployment, and licensing of technologies for chip, system and in-field application security, anti-counterfeiting, smart ticketing, and mobile payments.

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