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

Rambus (NASDAQ:RMBS) posted its earnings results on Monday. The semiconductor company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12), Briefing.com reports. The company had revenue of $132.10 million during the quarter, compared to analyst estimates of $139.00 million. Rambus had a net margin of 48.31% and a return on equity of 16.88%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 EPS. Rambus updated its Q3 2024 guidance to EPS.

Rambus Stock Performance

Shares of NASDAQ:RMBS traded up $2.86 during trading on Wednesday, reaching $51.44. 2,792,889 shares of the stock were exchanged, compared to its average volume of 1,478,554. Rambus has a 12-month low of $48.10 and a 12-month high of $76.38. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 14.86 and a beta of 1.20. The firm’s 50-day moving average price is $58.16 and its 200 day moving average price is $59.94.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Susquehanna reduced their target price on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a report on Friday, July 26th. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 target price (up previously from $72.00) on shares of Rambus in a report on Monday, May 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

Insider Transactions at Rambus

In related news, Director Eric B. Stang sold 5,408 shares of the business’s 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 directly owns 32,422 shares of the company’s stock, valued at approximately $1,846,432.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

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.