Rambus, Inc. (NASDAQ:RMBS) shares are trading lower Tuesday after the company reported worse-than-expected first-quarter adjusted earnings per share. Also, Baird downgraded its rating on the stock from Outperform to Neutral and maintained its $120 price target.
- Rambus stock is showing notable weakness. What’s behind RMBS decline?
Q1 Highlights
Rambus reported adjusted earnings per share of 63 cents, missing the consensus estimate of 64 cents. In addition, it posted revenue of $180.18 million, beating the consensus estimate of $177.92 million and representing a 15% year-over-year growth.
"Rambus opened 2026 with a solid first quarter, delivering financial results in line with guidance and generating strong cash from operations," said CEO Luc Seraphin.
The company generated $83.2 million in cash from operating activities during the quarter.
Cash, cash equivalents, and marketable securities totaled $786.1 million as of March 31, 2026.
Rambus expects second-quarter adjusted revenue from $190.00 million to $208.00 million, versus the consensus estimate of $196.20 million.
Rambus Shares Fall
RMBS Price Action: At the time of publication, Rambus shares are trading 18.26% lower at $115.50, according to data from Benzinga Pro.
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