Zacks: Analysts Expect Rambus Inc. (NASDAQ:RMBS) to Announce $0.29 EPS


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Wall Street brokerages predict that Rambus Inc. (NASDAQ:RMBS) will post earnings of $0.29 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Rambus’ earnings. Rambus reported earnings of ($0.04) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 825%. The business is scheduled to report its next earnings results on Monday, August 2nd.

According to Zacks, analysts expect that Rambus will report full year earnings of $1.20 per share for the current financial year. For the next financial year, analysts anticipate that the company will post earnings of $1.31 per share, with EPS estimates ranging from $1.30 to $1.31. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that that provide coverage for Rambus.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, May 3rd. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.30). The business had revenue of $105.00 million during the quarter, compared to the consensus estimate of $103.01 million. Rambus had a negative return on equity of 3.28% and a negative net margin of 17.06%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 earnings per share.

Several analysts have weighed in on RMBS shares. Susquehanna started coverage on Rambus in a research report on Friday. They set a “positive” rating and a $26.00 price objective on the stock. Susquehanna Bancshares started coverage on Rambus in a research report on Friday. They set a “positive” rating and a $26.00 price objective on the stock. Citigroup lifted their price objective on Rambus from $17.00 to $24.00 in a research report on Monday, January 25th. Zacks Investment Research cut Rambus from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Credit Suisse Group lifted their price objective on Rambus from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, February 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.00.

Shares of NASDAQ RMBS traded up $0.38 during trading hours on Tuesday, hitting $19.15. The company’s stock had a trading volume of 82,178 shares, compared to its average volume of 803,706. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.82 and a current ratio of 7.98. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -53.19, a P/E/G ratio of 1.32 and a beta of 1.05. Rambus has a 12 month low of $12.03 and a 12 month high of $22.30. The business has a 50-day simple moving average of $19.96 and a 200-day simple moving average of $18.48.

In related news, CEO Luc Seraphin sold 12,605 shares of the business’s stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $19.09, for a total value of $240,629.45. Following the completion of the transaction, the chief executive officer now directly owns 227,245 shares in the company, valued at approximately $4,338,107.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Keith A. Jones sold 10,432 shares of the business’s stock in a transaction that occurred on Wednesday, March 10th. The stock was sold at an average price of $19.85, for a total transaction of $207,075.20. Following the completion of the transaction, the insider now owns 56,180 shares of the company’s stock, valued at $1,115,173. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in RMBS. Fieldpoint Private Securities LLC purchased a new position in Rambus in the 4th quarter worth approximately $30,000. Avion Wealth purchased a new position in Rambus in the 4th quarter worth approximately $35,000. Marshall Wace LLP purchased a new position in Rambus in the 1st quarter worth approximately $46,000. HHM Wealth Advisors LLC purchased a new position in Rambus in the 4th quarter worth approximately $61,000. Finally, Perigon Wealth Management LLC purchased a new position in Rambus in the 4th quarter worth approximately $64,000. Institutional investors own 81.96% of the company’s stock.

Rambus Company Profile

Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, Asia, and internationally. The company offers DDR memory interface chips to module manufacturers and OEMs; physical interface and companion digital controller IPs for SoC designers; and portfolio of patents that covers memory architecture, high-speed serial links, and security products.

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