Jefferies Financial Group Comments on Rambus Inc.’s FY2023 Earnings (NASDAQ:RMBS)

Rambus Inc. (NASDAQ:RMBSGet Rating) – Investment analysts at Jefferies Financial Group upped their FY2023 earnings per share estimates for shares of Rambus in a report released on Tuesday, August 2nd. Jefferies Financial Group analyst M. Lipacis now forecasts that the semiconductor company will post earnings of $1.44 per share for the year, up from their previous estimate of $1.38. The consensus estimate for Rambus’ current full-year earnings is $1.41 per share. Jefferies Financial Group also issued estimates for Rambus’ Q4 2023 earnings at $0.37 EPS.

Other equities analysts have also recently issued research reports about the company. Susquehanna reissued a “buy” rating and set a $33.00 price objective on shares of Rambus in a research report on Tuesday, May 3rd. Susquehanna Bancshares restated a “buy” rating and set a $33.00 price target on shares of Rambus in a research note on Tuesday, May 3rd. StockNews.com upgraded Rambus from a “hold” rating to a “buy” rating in a research note on Thursday, May 19th. Deutsche Bank Aktiengesellschaft boosted their price target on Rambus from $30.00 to $32.00 in a research note on Tuesday, May 3rd. Finally, TheStreet upgraded Rambus from a “c” rating to a “b-” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.20.

Rambus Stock Performance

NASDAQ RMBS opened at $26.88 on Friday. Rambus has a twelve month low of $20.00 and a twelve month high of $33.75. The stock has a market capitalization of $2.96 billion, a PE ratio of -127.99 and a beta of 1.22. The stock has a 50-day simple moving average of $23.13 and a 200 day simple moving average of $25.53.

Rambus (NASDAQ:RMBSGet Rating) last posted its quarterly earnings data on Monday, August 1st. The semiconductor company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.05). Rambus had a positive return on equity of 18.24% and a negative net margin of 5.45%. The business had revenue of $121.13 million for the quarter, compared to analyst estimates of $137.20 million. During the same period in the prior year, the firm posted $0.29 EPS. Rambus’s revenue for the quarter was up 42.7% on a year-over-year basis.

Insider Activity

In other news, Director Charles Kissner sold 9,674 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $24.78, for a total value of $239,721.72. Following the sale, the director now directly owns 18,747 shares in the company, valued at approximately $464,550.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.53% of the company’s stock.

Institutional Investors Weigh In On Rambus

Several large investors have recently modified their holdings of RMBS. Allspring Global Investments Holdings LLC bought a new stake in shares of Rambus in the 4th quarter valued at approximately $1,536,000. Yousif Capital Management LLC acquired a new position in shares of Rambus in the 4th quarter worth approximately $3,004,000. Assenagon Asset Management S.A. boosted its holdings in shares of Rambus by 4.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 396,911 shares of the semiconductor company’s stock worth $11,665,000 after acquiring an additional 16,786 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Rambus by 61.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,127 shares of the semiconductor company’s stock worth $533,000 after acquiring an additional 6,904 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of Rambus by 6.6% in the 4th quarter. New York State Common Retirement Fund now owns 386,758 shares of the semiconductor company’s stock worth $11,367,000 after acquiring an additional 24,054 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

About Rambus

(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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Earnings History and Estimates for Rambus (NASDAQ:RMBS)

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