Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Good R+ news...
This portends an interesting year. One of the Big Three DRAM manufacturers on board for R+. Will Micron and or Hynix follow??
======================
SUNNYVALE, Calif., Feb 10, 2015 (BUSINESS WIRE) -- Rambus Inc. RMBS, +0.94% today announced it has developed an R+™ DDR4/3 PHY on the Samsung 28nm LPP process. Through the collaboration with Samsung, Rambus has achieved a robust, production-ready R+ DDR4/3 PHY on the power-performance optimized 28nm Low Power Plus (LPP) process. The Rambus design has been characterized at a system level, and can be easily integrated into a SoC.
“With the ongoing demand for data alongside the cloud driving more and more networking, the need for faster speeds and better bandwidth has never been more prevalent,” said Kevin Donnelly, general manager of the Memory and Interface division at Rambus. “Successfully taping out a production-ready R+ DDR4/3 PHY on the Samsung 28nm LPP process is a major step in our strategic and valued partnership. Together we are breaking the necessary ground to achieve the best possible speeds and bandwidth required by today’s consumer and networking devices.”
Full read here:
http://ih.advfn.com/p.php?pid=nmona&article=65433887&symbol=RMBS
Cisco takes CRI License
Great news. Pre-market likes it.
http://www.businesswire.com/news/home/20141124005030/en/Rambus-Cryptography-Research-Division-Licenses-Security-Technologies
Citigroup target $17
Thanks to sabatino at IV for the link.
========================
Citigroup
Rambus Inc. (NASDAQ:RMBS) stock had its “buy” rating reiterated by equities research analysts at Citigroup Inc. in a research noteissued to investors on Tuesday. They currently have a $17.00 price target on the stock, up from their previous price target of $16.00. Citigroup Inc.’s target price suggests a potential upside of 23.55% from the company’s current price. On last trading day Rambus Inc. (NASDAQ:RMBS) fell -0.92% to close at $11.79. RMBS is -20.45% away from its 52 week high and is moving 48.30% ahead of its 52 week low. Rambus Inc. (NASDAQ:RMBS) return on investment (ROI) is 0.10% while return on equity (ROE) is -0.80%.
[url]http://www.wallstreetscope.com/top-news-china-housing-and-land-development-nasdaqchln-rambus-nasdaq
rmbs-sysco-corporation-nysesyy-china-yuchai-international-limited-nysecyd-polycom-nasdaqplcm/258680/[/url]
re: "When was the last time RMBS spiked on earnings..."
Hey mahi mahi man,
April last year, maybe?? Been awhile. Just not enough buying interest by retail or institutional. If institutions are buying now the next couple updates on Institutional Ownership will tell. JMO
More coverage. Stock down?
Institutions and Funds own only half the outstanding shares. Seems to me this action taking the share price down (notice the 100 share lots) resembles a Wall St effort to shake out the weak retail hands so the institutions can accumulate more shares. JMO.
Price Targets raised
Credit to sotb at IV for the find.
Jefferies Group Boost Price Target $14.00 -> $15.00 Citigroup Boost Price Target $16 -> $17
http://www.analystratings.net/stocks/NASDAQ/RMBS/?RegistrationCode=SocialMedia-Twitter
Rambus weakness a buying opportunity, says Citigroup
Citigroup recommends using the post-Q2 earnings weakness in shares of Rambus as a buying opportunity. Citi says management continues to guide conservatively and it raised its price target for the stock to $17 from $16.
http://www.theflyonthewall.com/permalinks/entry.php/RMBSid2040917/RMBS-Rambus-weakness-a-buying-opp
ortunity-says-Citigroup?utm_source=twitterfeed&utm_medium=twitter&utm_campaign=theflyonthewall.com
2Q CC Transcript
After the intro by Satish Rishi...
Now, I will turn the call over to Ron.
Ron Black - President and Chief Executive Officer
Thank you, Satish and good afternoon everyone. We had a great second quarter with revenue of $76.5 million which came in at the high end of our upwardly revised guidance and was up 32% year-over-year. Our pro forma net income was $18.9 million also above our guidance and we were again GAAP profitable sticking to our goal of maintaining that profitability quarter after quarter.
As a result, we are happy with our first half financial performance, especially in light of the fact that there were some significant downsides such as the revenue expected from Sony PS3, that were offset by securing new customer. Satish will provide more detail on this in his section but in summary while we are ahead of our plan today, we are not raising our full year guidance. As I have mentioned on previous calls, our approach to setting guidance is that multiple ways to achieve the range and always avoid creating a situation where a customer will demand price reduction in order for us to achieve the quarterly forecast.
Sometimes this results in us exceeding our guidance range or lumpy revenue but I can assure you that this is the result of what we believe to be an appropriately forecasting methodology. So while there are scenarios where we can exceed at the annual guidance of $295 million to $305 million, at this point we simply can't commit to them.
One of the big highlights of the quarter was the launch of CryptoManager, our secure feature management platform with Qualcomm as lead customer. This platform provides chip and device companies with a hardware root of trust as well as an infrastructure that enables end-to-end security through the SoC design and manufacturing process. We are working closely with Qualcomm to integrate this solution into their application processes to provide advanced hardware based security provisioning throughout the manufacturing process.
Feedback from the market on CryptoManager has been excellent. We are engaged with several new customers as we come out of stealth mode. We have a wealth of information about CryptoManager on our Web site and have created a video that shows the benefit of CryptoManager solution in a fund easy to digest manner. Please check it out. Touching on the strategic and tactical relevance of CryptoManager, I think that you all agree that security is an important topic as the news is often highlighting enormous security breaches. We believe that CryptoManager platform can be a game changer in helping our customers and their customers improve security.
If you recall, we have speaking a lot about the importance of collaborating with the industry and finding ways to more broadly engage to deliver our solutions. This was the basis for our decision last quarter to join the JEDEC JC-40 committee and it provides us a platform from which we can work with the industry to help define and drive important requirements to improve power and performance in cloud and server based memory environments.
One of the things that I am happy to consistently report on is the fact that the memory industry is once again healthy and consequently becoming more influential in driving system architecture. We believe that some of our architectural innovations can dramatically improve power and performance and we hinted at some strategic programs at our Analyst Day in June although we were necessarily vague because the program is still in stealth mode. What we did indicate, however, is that the opportunity was on the order of $450 million today growing to over $600 million by 2018.
I am happy to report today that we have signed a memorandum of understanding with a large, strategic customer and have initiated development on the program which will run through 2015 and is expected to generate significant revenues for us in 2016. At Satish will outline in more detail later, we are increasing our expenses in the second half given the enormous growth potential for this program.
Looking back over the last two years, we are proud of our accomplishment. We started with profitability through a modest restructuring, augmentation of the strategy to collaborate with the industry and profitably resolve litigation, refinement of our portfolio by curtailing investment in some areas to afford more in other areas, and most recently with the launch of truly innovative solutions like CryptoManager. With this positive momentum in completion of the turnaround, we are increasingly looking forward to determine how we best collaborate with the industry and influence future architectures in the cloud, in mobile and in the Internet of Things.
To this end, we have created chief scientist positions and promoted Paul Kocher, who we previously was the General Manager of our cryptography division, and Craig Hampel, who is a Rambus fellow focused on memory and system architecture, to be Rambus chief scientists. You will be hearing more from both Paul and Craig in the near future. Martin Scott, formerly our CTO, will be taking over from Paul running our cryptography division. Martin has extensive experience as a General Manager having scaled several businesses in HP and PMC-Sierra. Laura Stark will expand her role and strategy and also run Martin's previous group which included Rambus labs, our lighting division and our new initiatives. Laura's group is called emerging solutions division.
In closing, I believe we are well situated to capitalize on the right opportunities and are properly structured to grow the business. We are building the right teams and investing in the right areas to build for the future growth and I am confident that revenue will follow suit. We believe we have several avenues in line that could more than double the size of the company in the coming years. With that, I will turn the call back over to Satish to give a read out on the quarterly results. Satish?
More here:
http://seekingalpha.com/article/2327595-rambus-rmbs-ceo-ron-black-on-q2-2014-results-earnings-call-transcript?part=single
Threejack, not tripplejack
Hey bunghoze,
You have me confused with the poster "tripplejack" at IV.
Don't see any crash myself. Just AH market disappointed with flat 3Q guidance.
Will read the CC transcript.
JP Morgan Raises Target: $15-$15.50
Credit to sotb at IV for the find.
7/18/2014 JPMorgan Chase & Co. Boost Price Target $15.00 -> $15.50
analystratings.net
2Q Earnings Call 7/21
After the close.
http://ih.advfn.com/p.php?pid=nmona&article=62899709
re: too much work and a waste of time
Hey eastunder,
There ARE a lot of trades, buys and sells, long and short.
If you are trading 10K shares in and out several times a month for pennies, and you are right more often than you are wrong, maybe you can pay the rent and buy some groceries.
Me? Not that desperate. Yet :)
Threejack
American Bull says "Stay Long"
Thanks to dshostakovich at IV for the find.
http://www.americanbulls.com/SignalPage.aspx?lang=en&Ticker=RMBS
Eastunder, you trade Rambus. Do you agree? Familiar with this site? Any good in your opinion?
(OT) Proud to be an American!
Happy Fourth of July, America!
http://www.history.com/topics/holidays/july-4th
I like Upgrades and I like Very Bullish
I just hate open Up Gaps.
But that's just me.
As for breakaway gaps, sure.
Used to play hockey as a young guy. Used to get big eyes when I got a breakaway opportunity.
Didn't always score...
Too much speculation at IV about
some new high volume customer or new license with a name firm. Seen this many times over the last decade, haven't we, eastunder?
"If wishes were horses, beggars would ride."
My guess is there is no big announcement in the short term (2Q) and the share price pulls back.
Personally, this beggar prefers the gap at 12.38 gets filled and the share price continues a steady trot up.
12.38 gap
Would like to see Rambus fill the gap before it gets too ahead of itself.
Topeka Capital raises target: $17
Credit to Marsal at IV for the find.
Topeka Capital Markets lifted their target price on shares of Rambus (NASDAQ:RMBS) from $15.00 to $17.00 in a research note issued on Thursday. The firm currently has a “buy” rating on the stock. Topeka Capital Markets’ target price indicates a potential upside of 24.63% from the company’s current price.
http://www.wkrb13.com/markets/322354/rambus-pt-raised-to-17-00-at-topeka-capital-markets-rmbs
Gap at 12.38
We don't like gaps do we, eastunder?
Nice little move today...
There is life after litigation after all. Sure be nice to see some follow through tomorrow and into next week.
Convertible Bond Payment
Rambus said it will pay its bondholders the $172MM due 6/15/14 in cash from its $400MM cash and marketable securities.
Must expect solid future cash flow to use so much existing cash to payoff the bond next week.
Bullish sign and a testament to both the efficacy of their licensing business model and to the performance of Dr. Black and his leadership team.
JMO
Rambus 2014 Analyst Day - Slide Presentations
Credit to the Great Sabatino at IV.
PDF Ron Black, CEO - Overview
PDF Jerome Nadel, CMO - Engagement
PDF Paul Kocher, President, Cryptography Research Division - Digital Trust
PDF Kevin Donnelly, General Manager, Memory & Interface Division - Memory Innovation
PDF Martin Scott, Chief Technology Officer - Fueling Growth
Rambus Updates 2Q Guidance
Rambus Inc. (NASDAQ:RMBS), the innovative technology solutions company that brings invention to market, today updated its revenue guidance for the second quarter of 2014 to be between $75 million and $77 million, up from the initial range of $69 million to $74 million. There was no change to its guidance of pro forma operating costs and expenses. For the full year 2014, the Company reiterated its revenue guidance to be between $295 million and $305 million.
http://ih.advfn.com/p.php?pid=nmona&article=62525758
Qualcomm Signs Rambus License
Agreement enables broad adoption of Rambus technologies for inclusion in Qualcomm chipsets
Rambus Inc. (NASDAQ:RMBS) today announced that it has signed a comprehensive patent license agreement with Qualcomm Global Trading Pte. Ltd., a subsidiary of Qualcomm Incorporated. The agreement provides Qualcomm Incorporated and its subsidiaries with access to innovative patented memory, interface, and security technologies from Rambus. Other terms of the agreement are confidential.
“This agreement highlights our ongoing commitment to providing access to valuable memory and security technologies to industry leaders,” said Dr. Ron Black, president and chief executive officer at Rambus. “Engaging with Qualcomm with this agreement gives us an opportunity to collaborate with the broader industry to bring compelling solutions to the segment.”
In addition to certain high-performance, low-power memory innovations, this agreement provides Qualcomm Incorporated and its subsidiaries with access to patented security technologies developed by the Cryptography Research (CRI) division of Rambus. These security technologies include countermeasures for protecting integrated circuit systems on a chip (SoCs) against differential power analysis and other side channel attacks.
Rambus continues to innovate across memory architectures and security to meet the emerging requirements of device-driven segments like mobile and cloud. Working with industry leaders like Qualcomm positions Rambus’ inventions for broad adoption.
http://ih.advfn.com/p.php?pid=nmona&article=62525757
Thank You US Veterans and Your Families
...for your service and your sacrifice. Our nation is in your debt.
Always.
Agree!
Perhaps R+ has a hope of widespread adoption. Will be looking for new licensing announcements in the not-to-distant future.
Acacia Corporate Presentation Q1 2014
Credit to Tripplejack at IV for the find.
http://acaciaresearch.com/investor-relations/
See pps 10 + 12
New revenue stream? Every automobile???
If sued and if successfully licensed by Acacia.
Apple/Acacia/Rambus
Credit to Tripplejack at IV for the find. Bold mine:
========================
- Patent troll seeks royalty payments on every Apple Inc. product made since 2004
Innovative Display Technologies LLC (http://acaciaresearch.com/portfolio/)
Apple Inc. (NASDAQ:AAPL) was targeted yesterday by a lawsuit from patent assertion entity (PAE) Innovative Display Technologies LLC, registered in Austin, Texas and doing business from an office in Plano. Innovative, which is a newly minted firm founded on March 13th, 2013, has spent its brief life suing Apple, Microsoft, Google, Dell, Volkswagen, Toyota, and dozens of other major firms. Yesterday, it filed a new lawsuit against Apple Inc., alleging infringement of a 2004 patent related to the design of backlighted displays.
Though vastly overshadowed by the epic struggle between Apple Inc. (AAPL) and Samsung over $2.17 billion in damages, Innovative Display Technologies’ claims are worthy of note for their sheer cheek and excessive size. The complaint asserts that the plaintiff is due “at least” fair and reasonable royalty payments, plus interest, for all infringing devices over the whole period of infringement. This would be a massive sum, since Innovative claims that every Apple product made since 2004 is infringing on its patents.
“Usual and customary royalties” are considered to be approximately 5% in the United States, calculated as a share of the firm’s net income. Over the 2004 to 2014 period, Apple’s total net income was $114.2 billion. The Plano-based patent troll is therefore effectively claiming no less than $5.7 billion in accrued royalties, plus an unspecified amount of interest and court costs.
The specific patent on which Innovative Display Technologies LLC is basing its lawsuit is U.S. Patent #6,755,547, plus a number of child patents. This document is titled “Light Emitting Panel Assemblies,” and was applied for and granted to one Jeffrey R. Parker of Richfield, Ohio. The patent was for a backlit display consisting of a backlight, and a front plate with a textured inner side whose molded features would create different light levels on various parts of the screen. The patent was filed initially on August 30th, 2002 and granted on June 29th, 2004.
According to Patent Buddy, Innovative owns at least 49 patents, all of which were purchased from existing patent holders. The patent assertion entity filed a lawsuit against Google (GOOG) today based on the same patent, #6,755,547, with the same damages of “fair and reasonable” royalties plus interest. Both suits are filed at the United States District Court for the Eastern District of Texas.
Though Innovative Display Technologies, LLC stands little chance of winning its suits against Apple Inc. (AAPL) or Google (GOOG), the size of its claims is remarkable even in the world of patent trolls. If successful, its suits would likely net it more than $10 billion dollars from all defendants combined, plus entitle it to more or less permanent royalties on all current and future Apple and Motorola products incorporating a backlighted screen.
http://www.pfhub.com/bold-patent-troll-seeks-royalty-payments-on-every-apple-inc-aapl-product-made-since-2004-sues-for-more-than-5-7-billion-518/
10-Q Quarterly Report
Interesting reading.
http://ih.advfn.com/p.php?pid=nmona&article=61970622&symbol=RMBS
1Q Conference call
Perhaps I'm jaded, but that was a most unsatisfactory call. Unprepared and uninspired, in my opinion. Expected better of Black and Rishi. This isn't a dress rehearsal.
Only three Q&A questions so no real analyst interest. Satish Rishi maybe a terrific CFO, confidant to the CEO, great manager of people, whatever...but he is an ineffective spokesperson to the investment community. For the compensation Rambus pays, shareholders deserve a better performance from this senior position.
Draw your own conclusion.
http://www.media-server.com/m/p/29544j9s
Both will need to do better on the annual shareholders virtual meeting.
JMO
re: We will know soon enough.
Hey eastunder,
Well, it's official. You are way smarter than me : )
LTBH bagholder. Some day I might be right...
Rambus Reports First Quarter Financial Results
Business and Financial Highlights
-Signed broad five-year agreement with Nanya Technology Corporation, resolving all outstanding disputes
-Lensless Smart Sensor technology highlighted as one of the best technologies at Mobile World Congress 2014
-Generated quarterly revenue of $78.3 million; up 7% quarter-over-quarter and up 17% year-over-year
-First quarter GAAP diluted net income per share of $0.07
-First quarter non-GAAP diluted net income per share of $0.17; up 21% quarter-over-quarter and up 89% year-over-year
http://ih.advfn.com/p.php?pid=nmona&article=61904489&symbol=RMBS
==============================
Not bad. After market says it was expecting more, perhaps a product announcement, and is disappointed in 2Q guidance, but all in all Dr. Black continues to move Rambus in a positive direction.
JMO
re: Next question please. :)
Hey eastunder,
No more questions from me; a comment, though.
If there is a material announcement pending the call or a surprise upside in earnings or guidance that might explain the recent strength in the share price, it is a well-guarded secret given the action today ...and there are very few well-guarded secrets a couple hours before an earnings call in my experience.
So, you might have been smart to take some profits early.
Smarter than me, for example : )
We will know soon enough.
Hey Queen
What is the chart telling you?? Seems the market is expecting news. The 1Q earnings call isn't until next Monday.
Hard to imagine a Zacks comment is moving the price today.
TIA
Zacks
Bull of the Day. Credit to nattan at IV for the find.
http://finance.yahoo.com/news/bull-day-rambus-rmbs-050020275.html
re: "...kinda like Panic..."
Bears can be taildraggers, too.
re: "...20% from where?..."
Hey eastunder,
Here's some more insight:
20% market corrections occur on avg every 3.5 years. Of course, averages mean nothing, but the last big down market was 2008.
We are way overdue for some serious pain. So, my guess is 20%+ down from here. Question is, has it really started or is the recent little tilt just a head fake?
http://www.businessinsider.com/intra-year-declines-2014-4
PS We never panic, do we??
re: "...Ram leadership has played them like puppets over the years..me included..."
Hey traderjoe,
You are not alone. Plenty of early shareholders believed the lines fed by management.
Self-dealing scallywags, one after the other. My hope is Ron Black is different. Agree it is too soon to say. So far he gets the benefit of the doubt from me.
re: "...just a damn strange report at an odd time in the market..."
Hey traderjoe,
Agree with you. The timing is suspect.
As you say, the analyst could have waited until after the earnings call a week from this Monday. Curious as well, the annual shareholders meeting is the same week, Thursday April 24 (it is a virtual meeting. Got to distance the riffraff from the key executives?? We are becoming so detached as a society).