Rambus down after Q3 guidance falls below estimates

Rambus

01/08/2023 11:28

** Shares of memory chipmaker Rambus  RMBS.O  fall 9.15% to
$56.88 premarket
    ** Co sees Q3 adj. EPS in range of 15-21 cents, short of
analysts' consensus forecast of 44 cents - Refinitiv
    ** Sees Q3 rev of $96-102 mln, below Wall Street's consensus
estimate of $125.4 mln
    ** Reports Q2 EPS of $1.55 vs 32 cents a year earlier
    ** RMBS reports Q2 rev of $119.8 mln, down from $121.1 mln a
year earlier and below estimates of $133.2 mln
    ** Six of seven brokerages rate the stock "buy" or higher,
with one going for "hold"; their median PT is $70
    ** Up to last close, stock had risen nearly 75% YTD

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com;))