Rambus declines after quarterly profit miss

Rambus

28/04/2026 11:38

** Shares of semiconductor company Rambus RMBS.O drop 15.8% to $118.97 premarket

** Reports Q1 adj. EPS of 63 cents, missing analysts' consensus estimate of 64 cents, according to data compiled by LSEG

** RMBS reports Q1 revenue of $180.2 mln, topping estimates of $177.9 mln

** Its shares had fallen more than 10% in the last session after sharp gains last week, when Intel's INTC.o unexpectedly strong revenue forecast sparked a rally across broader chip stocks

** Other chip stocks including Arm Holdings ARM.O, Advanced Micro Devices AMD.O and ON Semiconductor ON.O down on Tuesday after last week's rally

** Nine of the 11 analysts covering RMBS rate it "buy" or higher and median PT is $132

** As of last close, RMBS shares up more than 53% YTD compared to 46.9% jump in the Philadelphia SE Semiconductor Index .SOX

 (Reporting by Shashwat Chauhan in Bengaluru)

 ((Shashwat.Chauhan@thomsonreuters.com))