Rambus (RMBS) Issues Q3 Earnings Guidance

Rambus (NASDAQ:RMBS) issued an update on its third quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.19-$0.25 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.21. The company issued revenue guidance of $97-$103 million, compared to the consensus revenue estimate of $99.68 million.

Rambus stock traded down $0.27 during midday trading on Monday, reaching $13.12. The stock had a trading volume of 943,378 shares, compared to its average volume of 790,307. Rambus has a twelve month low of $11.85 and a twelve month high of $15.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.40 and a current ratio of 3.44. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 2.01 and a beta of 0.46.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, May 7th. The semiconductor company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.31). Rambus had a positive return on equity of 8.46% and a negative net margin of 17.65%. The firm had revenue of $100.50 million during the quarter, compared to analyst estimates of $97.00 million. During the same period in the prior year, the business posted $0.17 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. equities analysts forecast that Rambus will post 0.67 earnings per share for the current fiscal year.

RMBS has been the subject of a number of recent analyst reports. Credit Suisse Group initiated coverage on shares of Rambus in a research note on Tuesday, May 29th. They issued a neutral rating and a $16.00 price objective for the company. BidaskClub lowered shares of Rambus from a hold rating to a sell rating in a research note on Wednesday, June 13th. Finally, Zacks Investment Research raised shares of Rambus from a hold rating to a buy rating and set a $15.00 price objective for the company in a research note on Friday, May 11th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Rambus has a consensus rating of Buy and a consensus target price of $16.56.

In other Rambus news, SVP Jae Kim sold 2,297 shares of Rambus stock in a transaction on Friday, June 1st. The shares were sold at an average price of $13.50, for a total transaction of $31,009.50. Following the completion of the sale, the senior vice president now owns 128,684 shares of the company’s stock, valued at approximately $1,737,234. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.20% of the company’s stock.

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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