Brokerages Anticipate Rambus Inc. (NASDAQ:RMBS) Will Post Quarterly Sales of $91.50 Million

Analysts expect that Rambus Inc. (NASDAQ:RMBS) will post $91.50 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Rambus’ earnings, with the lowest sales estimate coming in at $89.00 million and the highest estimate coming in at $99.00 million. Rambus reported sales of $99.80 million during the same quarter last year, which suggests a negative year-over-year growth rate of 8.3%. The company is scheduled to report its next quarterly earnings results after the market closes on Monday, November 4th.

According to Zacks, analysts expect that Rambus will report full-year sales of $384.16 million for the current year, with estimates ranging from $377.40 million to $401.99 million. For the next year, analysts expect that the company will report sales of $403.11 million, with estimates ranging from $395.00 million to $427.21 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Rambus.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results 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 business had revenue of $58.30 million for the quarter, compared to analysts’ expectations of $96.25 million. Rambus had a negative net margin of 35.34% and a positive return on equity of 2.52%. Rambus’s revenue for the quarter was down 41.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS.

A number of equities research analysts recently issued reports on RMBS shares. Wells Fargo & Co upped their price target on shares of Rambus from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Citigroup upped their price target 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. ValuEngine downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised shares of Rambus from a “sell” rating to a “hold” rating in a research note on Wednesday, June 26th. Finally, BidaskClub downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research note on Saturday, August 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $13.60.

Rambus stock traded down $0.21 during mid-day trading on Monday, reaching $13.36. 865,605 shares of the company’s stock traded hands, compared to its average volume of 546,601. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 1.83 and a beta of 0.68. The stock has a 50 day moving average of $13.11 and a two-hundred day moving average of $12.10. The company has a quick ratio of 7.48, a current ratio of 7.59 and a debt-to-equity ratio of 0.16. Rambus has a 12-month low of $7.17 and a 12-month high of $14.29.

In other news, Director Charles Kissner sold 7,055 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $13.25, for a total value of $93,478.75. Following the sale, the director now owns 14,156 shares of the company’s stock, valued at $187,567. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Jae Kim sold 2,297 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $13.00, for a total transaction of $29,861.00. Following the completion of the sale, the senior vice president now directly owns 134,025 shares in the company, valued at approximately $1,742,325. The disclosure for this sale can be found here. In the last three months, insiders sold 44,106 shares of company stock worth $607,511. Insiders own 1.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Rambus in the 2nd quarter worth about $37,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in Rambus in the 2nd quarter worth about $43,000. Marshall Wace LLP purchased a new position in Rambus in the 1st quarter worth about $46,000. Quantamental Technologies LLC increased its stake in Rambus by 15.9% in the 2nd quarter. Quantamental Technologies LLC now owns 7,768 shares of the semiconductor company’s stock worth $94,000 after buying an additional 1,067 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Rambus in the 2nd quarter worth about $127,000. 78.87% of the stock is currently owned by institutional investors and hedge funds.

Rambus Company Profile

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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