Rambus, Inc. (RMBS) Expected to Announce Quarterly Sales of $99.00 Million

Analysts expect that Rambus, Inc. (NASDAQ:RMBS) will post sales of $99.00 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Rambus’ earnings, with the lowest sales estimate coming in at $98.99 million and the highest estimate coming in at $99.00 million. Rambus posted sales of $89.86 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.2%. The business is scheduled to report its next earnings report on Monday, October 23rd.

On average, analysts expect that Rambus will report full year sales of $99.00 million for the current year, with estimates ranging from $391.42 million to $392.10 million. For the next financial year, analysts forecast that the firm will post sales of $413.83 million per share, with estimates ranging from $406.46 million to $421.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Rambus.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 24th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Rambus had a net margin of 1.76% and a return on equity of 9.28%. The firm had revenue of $94.70 million during the quarter, compared to the consensus estimate of $93.00 million. During the same period in the previous year, the firm earned $0.15 earnings per share. Rambus’s revenue was up 23.8% compared to the same quarter last year.

Several research firms have recently weighed in on RMBS. BidaskClub cut Rambus from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $14.00 target price (up from $13.50) on shares of Rambus in a research report on Tuesday, July 25th. TheStreet cut Rambus from a “b-” rating to a “c+” rating in a research report on Friday, June 16th. J P Morgan Chase & Co cut Rambus from an “overweight” rating to a “neutral” rating and set a $15.00 target price for the company. in a research report on Friday, September 22nd. Finally, Zacks Investment Research cut Rambus from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Rambus has an average rating of “Hold” and an average price target of $14.75.

Rambus (NASDAQ RMBS) traded up 1.11% on Tuesday, hitting $13.70. 226,925 shares of the stock were exchanged. The company’s 50 day moving average price is $13.17 and its 200-day moving average price is $12.63. The company has a market cap of $1.50 billion, a P/E ratio of 228.33 and a beta of 0.82. Rambus has a one year low of $11.30 and a one year high of $14.39.

In related news, SVP Jae Kim sold 42,449 shares of Rambus stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $12.71, for a total value of $539,526.79. Following the completion of the sale, the senior vice president now directly owns 120,126 shares in the company, valued at $1,526,801.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Laura Stark sold 3,491 shares of Rambus stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $12.90, for a total value of $45,033.90. Following the completion of the sale, the senior vice president now owns 208,474 shares of the company’s stock, valued at $2,689,314.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,221 shares of company stock valued at $944,373. 2.00% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Rambus by 17,759.2% during the 1st quarter. BlackRock Inc. now owns 14,458,840 shares of the semiconductor company’s stock worth $189,990,000 after buying an additional 14,377,880 shares during the period. Vanguard Group Inc. grew its position in shares of Rambus by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 10,036,227 shares of the semiconductor company’s stock worth $114,714,000 after buying an additional 188,666 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Rambus by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,461,927 shares of the semiconductor company’s stock worth $51,001,000 after buying an additional 112,208 shares during the period. State Street Corp grew its position in shares of Rambus by 4.0% during the 2nd quarter. State Street Corp now owns 3,084,528 shares of the semiconductor company’s stock worth $35,256,000 after buying an additional 119,833 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Rambus by 40.1% during the 2nd quarter. Renaissance Technologies LLC now owns 2,908,586 shares of the semiconductor company’s stock worth $33,245,000 after buying an additional 832,386 shares during the period. Institutional investors own 76.47% of the company’s stock.

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Rambus Company Profile

Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.

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