On July 28, Rambus fell 7.02% in regular trading, trading at $87.52/share, with turnover of $40.905 million. Despite reporting better-than-expected Q2 results, the stock was dragged lower by a broad semiconductor sector retreat.
Rambus reported Q2 adjusted EPS of $0.77, beating the consensus estimate of $0.72 by 6.94%, while revenue came in at $207.4 million versus the expected $199.3 million, representing a 20.4% year-over-year increase. Q3 guidance calls for revenue of $210 million to $216 million and adjusted EPS of $0.75 to $0.82, roughly in line with analyst expectations. The stock had initially surged 11.81% in after-hours trading following the report but quickly reversed course.
The reversal was driven by a sector-wide selloff after Morgan Stanley warned that memory contract prices would peak in Q4, triggering profit-taking across semiconductor names. Within the sector, Micron Technology fell 9.2%, Advanced Micro Devices fell 7.95%, SK hynix fell 7.84%, Intel fell 6.15%, and NVIDIA fell 1.34%, reflecting broad-based weakness that overwhelmed Rambus's earnings beat.
(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.)
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