Equities research analysts expect Rambus Inc. (NASDAQ:RMBS) to post sales of $97.00 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Rambus’ earnings. Rambus posted sales of $104.30 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 7%. The business is scheduled to issue its next earnings report on Monday, January 25th.
According to Zacks, analysts expect that Rambus will report full-year sales of $415.67 million for the current financial year, with estimates ranging from $415.40 million to $416.11 million. For the next fiscal year, analysts forecast that the business will post sales of $438.66 million, with estimates ranging from $437.20 million to $441.28 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Rambus.
Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, November 2nd. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.38). Rambus had a negative return on equity of 2.97% and a negative net margin of 18.91%. The firm had revenue of $56.90 million during the quarter, compared to analyst estimates of $103.00 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis.
Several equities research analysts have issued reports on RMBS shares. BidaskClub raised shares of Rambus from a “strong sell” rating to a “sell” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Rambus from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Zacks Investment Research lowered shares of Rambus from a “hold” rating to a “sell” rating in a research note on Tuesday, October 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $17.46.
Shares of RMBS opened at $15.30 on Friday. The stock has a 50 day moving average price of $13.95 and a 200 day moving average price of $14.31. Rambus has a one year low of $9.01 and a one year high of $16.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.32 and a current ratio of 8.46. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -37.32, a PEG ratio of 1.01 and a beta of 0.87.
Rambus announced that its Board of Directors has initiated a share buyback plan on Monday, November 2nd that permits the company to repurchase 20,000,000 shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
In other Rambus news, CEO Luc Seraphin sold 2,425 shares of Rambus stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $14.00, for a total transaction of $33,950.00. Following the transaction, the chief executive officer now directly owns 210,436 shares of the company’s stock, valued at $2,946,104. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 4,384 shares of company stock valued at $61,730. 1.10% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of RMBS. Advisor Group Holdings Inc. raised its position in Rambus by 8.7% in the second quarter. Advisor Group Holdings Inc. now owns 8,794 shares of the semiconductor company’s stock valued at $134,000 after purchasing an additional 702 shares during the period. Envestnet Asset Management Inc. lifted its position in Rambus by 4.6% in the third quarter. Envestnet Asset Management Inc. now owns 16,340 shares of the semiconductor company’s stock valued at $224,000 after buying an additional 722 shares during the last quarter. IFP Advisors Inc lifted its position in Rambus by 53.0% in the second quarter. IFP Advisors Inc now owns 2,347 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 813 shares during the last quarter. Riggs Asset Managment Co….