$91.50 Million in Sales Expected for Rambus Inc. (NASDAQ:RMBS) This Quarter

Equities research analysts expect that Rambus Inc. (NASDAQ:RMBS) will announce $91.50 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided 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 would suggest a negative year over year growth rate of 8.3%. The firm is expected to announce its next earnings results on Monday, November 4th.

According to Zacks, analysts expect that Rambus will report full-year sales of $384.16 million for the current financial year, with estimates ranging from $377.40 million to $401.99 million. For the next fiscal year, analysts anticipate that the firm will report sales of $388.21 million, with estimates ranging from $372.00 million to $427.21 million. Zacks’ sales averages are an average based on a survey of research firms that cover Rambus.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, July 29th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.21). The company had revenue of $58.30 million during the quarter, compared to the consensus estimate of $96.25 million. Rambus had a negative net margin of 35.34% and a positive return on equity of 2.52%. Rambus’s quarterly revenue was down 41.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 EPS.

Several research analysts have issued reports on the company. Deutsche Bank upped their price target on Rambus from $12.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. ValuEngine raised Rambus from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Zacks Investment Research raised Rambus from a “sell” rating to a “hold” rating in a report on Wednesday, June 26th. Citigroup upped their price target on Rambus from $13.10 to $15.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Co assumed coverage on Rambus in a report on Tuesday, May 14th. They issued an “outperform” rating and a $11.35 price target on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $12.67.

In other Rambus news, insider Luc Seraphin sold 18,287 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $11.98, for a total transaction of $219,078.26. Following the sale, the insider now directly owns 228,697 shares of the company’s stock, valued at approximately $2,739,790.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles Kissner sold 3,723 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $12.08, for a total transaction of $44,973.84. Following the sale, the director now directly owns 47,503 shares in the company, valued at $573,836.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,909 shares of company stock worth $287,532. Company insiders own 1.00% of the company’s stock.

A number of large investors have recently made changes to their positions in RMBS. Norges Bank acquired a new stake in Rambus during the 4th quarter valued at $13,318,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Rambus during the 1st quarter valued at $16,601,000. Morgan Stanley raised its stake in Rambus by 4,124.8% during the 2nd quarter. Morgan Stanley now owns 1,180,656 shares of the semiconductor company’s stock valued at $14,215,000 after purchasing an additional 1,152,710 shares during the period. Vanguard Group Inc. raised its stake in Rambus by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 11,674,352 shares of the semiconductor company’s stock valued at $140,560,000 after purchasing an additional 590,445 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Rambus by 573.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 554,217 shares of the semiconductor company’s stock valued at $5,792,000 after purchasing an additional 471,886 shares during the period. 77.35% of the stock is currently owned by institutional investors.

Shares of NASDAQ RMBS traded down $0.12 during trading on Wednesday, hitting $12.20. The company had a trading volume of 381,352 shares, compared to its average volume of 841,639. The company has a market cap of $1.33 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.61 and a beta of 0.70. Rambus has a 52 week low of $7.17 and a 52 week high of $13.16. The firm has a 50-day moving average of $12.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.48 and a current ratio of 7.59.

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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