On July 30, Rambus rose 5.06% in pre-market trading, trading at $86.69/share, with turnover of approximately $494,000. The rebound comes as the semiconductor sector shows signs of recovery following two consecutive sessions of broad-based selling pressure.
On the earnings front, Rambus reported Q2 adjusted EPS of $0.77, beating the consensus estimate of $0.72 by 6.94% and representing a 24.19% year-over-year increase. Revenue came in at $207.4 million, surpassing expectations of $199 million and growing 20.4% year-over-year. For Q3, the company guided revenue of $210 million to $216 million and adjusted EPS of $0.75 to $0.82, broadly in line with analyst expectations.
Despite the strong results, Rambus had declined sharply from its post-earnings high of $106.3 after Morgan Stanley warned that memory contract prices are expected to peak in Q4, triggering sector-wide profit-taking. The current pre-market bounce coincides with a broader semiconductor recovery, with Micron Technology up 2.46%, AMD up 3.48%, Intel up 2.32%, and NVIDIA up 1.77%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments