Rambus (RMBS) to Release Earnings on Monday

Rambus (NASDAQ:RMBS) is set to announce its earnings results after the market closes on Monday, April 29th. Analysts expect the company to announce earnings of $0.44 per share for the quarter. Rambus has set its Q1 2024 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. Rambus had a return on equity of 17.70% and a net margin of 72.41%. The business had revenue of $136.00 million for the quarter, compared to the consensus estimate of $134.00 million. On average, analysts expect Rambus to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Rambus Price Performance

Shares of RMBS stock opened at $54.68 on Monday. Rambus has a 1 year low of $43.58 and a 1 year high of $76.38. The stock’s 50 day simple moving average is $59.94 and its two-hundred day simple moving average is $62.66. The company has a market cap of $5.94 billion, a PE ratio of 18.23 and a beta of 1.16.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RMBS shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price on shares of Rambus in a research note on Wednesday, March 13th. Wells Fargo & Company upped their target price on Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.20.

Insider Activity

In related news, COO Xianzhi Sean Fan sold 2,004 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total value of $110,220.00. Following the completion of the transaction, the chief operating officer now owns 121,229 shares in the company, valued at approximately $6,667,595. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Rambus news, CEO Luc Seraphin sold 15,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $62.17, for a total transaction of $932,550.00. Following the sale, the chief executive officer now directly owns 304,755 shares of the company’s stock, valued at approximately $18,946,618.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Xianzhi Sean Fan sold 2,004 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $55.00, for a total value of $110,220.00. Following the sale, the chief operating officer now owns 121,229 shares in the company, valued at $6,667,595. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,084 shares of company stock worth $7,408,298. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Rambus

Institutional investors have recently modified their holdings of the business. Hollencrest Capital Management acquired a new stake in Rambus in the 1st quarter worth about $28,000. West Tower Group LLC grew its stake in shares of Rambus by 194.4% in the fourth quarter. West Tower Group LLC now owns 418 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 276 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of Rambus in the fourth quarter worth $33,000. Lazard Asset Management LLC acquired a new position in shares of Rambus during the second quarter worth $40,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in shares of Rambus during the fourth quarter worth $49,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Company Profile

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.