Why Rambus Stock Nose-Dived This Week
(NASDAQ: RMBS) had a week to forget, at least as far as its shares were concerned. The chip interface technologies company saw its stock price fall precipitously in the wake of its latest earnings release. All told, it lost nearly 29% over the course of the five trading days, according to data compiled by S&P Global Market Intelligence.
After market hours on Monday, Rambus bit the bullet and divulged its second-quarter figures. Among these was total revenue, which at over $132 million was 10% higher on a year-over-year basis. However, net income according to GAAP standards headed sharply in the other direction. It withered to slightly over $36 million ($0.33 per share) from Q2 2023's nearly $169 million.
Analysts were expecting higher numbers than that. Collectively, they were estimating that Rambus would book $139 million in revenue, and post a meatier per-share net income figure of $0.45.
Source Fool.com
Rambus Inc. Stock
Rambus Inc. is currently one of the favorites of our community with 9 Buy predictions and no Sell predictions.
With a target price of 73 € there is a hugely positive potential of 93.22% for Rambus Inc. compared to the current price of 37.78 €.
