Rambus (RMBS) reported quarterly earnings results on Monday, Jul-18-2016. The company said it had a profit of $0.15 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.13. The company posted revenue of $76.50 million in the period, compared to analysts expectations of $74.42 million. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.
Many Wall Street Analysts have commented on Rambus. Wunderlich Initiated Rambus on Jun 3, 2016 to “Buy”, Price Target of the shares are set at $15.
Rambus opened for trading at $12.64 and hit $12.76 on the upside on Friday, eventually ending the session at $12.75, with a gain of 1.03% or 0.13 points. The heightened volatility saw the trading volume jump to 5,72,302 shares. Company has a market cap of $1,403 M.
In a different news, on Jul 6, 2016, Laura Stark (SVP, GM ESD) sold 4,010 shares at $11.55 per share price. According to the SEC, on Apr 29, 2016, David A Shrigley (director) sold 5,000 shares at $12.20 per share price. On Apr 4, 2016, Satish Rishi (SVP Finance, CFO) sold 2,000 shares at $13.60 per share price, according to the Form-4 filing with the securities and exchange commission.
Rambus Inc. is a technology solutions company. The Companys technology portfolio addresses the evolving power performance and security requirements of the mobile cloud computing and connected device markets. It offers solutions in memory chip interfaces and architectures security and advanced light emitting diode (LED) lighting. The Company has four operational units: Memory and Interfaces Division (MID) which focuses on the design development and licensing of technology that is related to memory and interfaces; Cryptography Research Division (CRD) which focuses on the design development and licensing of technologies for chip and system security and anti-counterfeiting; Emerging Solutions Division (ESD) which includes the Companys computational sensing and imaging group along with its development efforts in the area of emerging technologies and Lighting and Display Technologies (LDT) which focuses on the design development and licensing of technologies for lighting.