Zacks: Brokerages Expect Rambus Inc. (NASDAQ:RMBS) Will Post Quarterly Sales of $137.00 Million

Equities research analysts forecast that Rambus Inc. (NASDAQ:RMBS – Get Rating) will announce $137.00 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Rambus’ earnings. The lowest sales estimate is $136.99 million and the highest is $137.00 million. Rambus reported sales of $108.20 million in the same quarter last year, which would suggest a positive year over year growth rate of 26.6%. The business is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Rambus will report full-year sales of $544.45 million for the current financial year, with estimates ranging from $542.50 million to $546.40 million. For the next financial year, analysts forecast that the company will report sales of $580.27 million, with estimates ranging from $578.30 million to $582.24 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Rambus.

Rambus (NASDAQ:RMBS – Get Rating) last issued its earnings results on Monday, May 2nd. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Rambus had a positive return on equity of 17.27% and a negative net margin of 12.68%. The business had revenue of $132.70 million during the quarter, compared to analysts’ expectations of $127.95 million.

A number of equities research analysts recently commented on the company. Susquehanna restated a “buy” rating and set a $33.00 price target on shares of Rambus in a research report on Tuesday, May 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on Rambus from $30.00 to $32.00 in a research report on Tuesday, May 3rd. StockNews.com upgraded Rambus from a “hold” rating to a “buy” rating in a research report on Thursday, May 19th. Credit Suisse Group increased their price objective on Rambus from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, February 8th. Finally, Susquehanna Bancshares reiterated a “buy” rating and issued a $33.00 price objective on shares of Rambus in a research report on Tuesday, May 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $31.14.

In other Rambus news, CEO Luc Seraphin sold 8,313 shares of Rambus stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $25.30, for a total value of $210,318.90. Following the sale, the chief executive officer now owns 240,807 shares of the company’s stock, valued at approximately $6,092,417.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Kissner sold 9,674 shares of Rambus stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $24.78, for a total value of $239,721.72. Following the completion of the sale, the director now directly owns 18,747 shares in the company, valued at approximately $464,550.66. The disclosure for this sale can be found here. Insiders have sold a total of 112,987 shares of company stock worth $3,132,366 in the last ninety days. 1.53% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dark Forest Capital Management LP bought a new position in Rambus during the third quarter worth about $27,000. Confluence Wealth Services Inc. bought a new position in Rambus during the fourth quarter worth about $41,000. Catalyst Capital Advisors LLC bought a new position in Rambus during the fourth quarter worth about $46,000. Marshall Wace LLP bought a new position in Rambus during the first quarter worth about $46,000. Finally, Neo Ivy Capital Management bought a new position in Rambus during the fourth quarter worth about $54,000. Institutional investors own 86.99% of the company’s stock.

NASDAQ RMBS opened at $25.46 on Tuesday. The firm has a market cap of $2.81 billion, a PE ratio of -60.62 and a beta of 1.16. Rambus has a one year low of $19.25 and a one year high of $33.75. The stock’s 50 day simple moving average is $26.07 and its 200 day simple moving average is $27.12.

Rambus Company Profile (Get Rating)

Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5, DDR4 and DDR3 memory interface chips to module manufacturers and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced applications; and physical interface and digital controller IP to offer industry-leading, integrated memory and interconnect subsystems.

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