Rambus Inc. (RMBS) Stock Price & Analysis
Rambus Inc. (RMBS) closed at USD 85.73 on Thursday, October 22, 2026, down 7.62% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 92.8; the Oct 22, 2026 session ranged USD 85.02–90.5 on volume of 1,971,465 shares. Market capitalization is $9.30B, with a 52-week range of USD 77.89–174.1 (NMS). Source: Nexqual, retrieved October 23, 2026 at 09:18 UTC.
Also available as compact Markdown for AI agents: nexqual.com/RMBS.md
Key facts (RMBS)
- Last four reported quarters (through Jun 30, 2026): revenue $756M, net income $240M (31.7% margin), free cash flow $300M (SEC filings).
- Valuation: P/E 38.8x (avg 32.8x at the last 3 fiscal year-ends).
- 1 of 80 tracked superinvestors hold RMBS (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 13 Form 4 filings, $14.4M; 8 not under a Rule 10b5-1 plan ($11.3M); 2 by opportunistic insiders (2 outside 10b5-1 plans), 1 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.25 on a 1–5 scale) (8 analysts), mean target USD 141.57 (range 100–165).
- Total return with dividends: 1Y -15.6% vs S&P 500 +14.9%; 5Y +276.8% vs S&P 500 +80.3%.
- Next earnings: 2026-10-26, EPS estimate USD 0.79, revenue estimate $213M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (RMBS)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $328M | $455M | $461M | $557M | $708M | $756M |
| Gross profit | $258M | $347M | $358M | $447M | $563M | — |
| Operating income | $24.3M | $76.9M | $154M | $183M | $260M | $269M |
| Net income | $18.3M | -$14.3M | $334M | $180M | $230M | $240M |
| EPS (diluted) | $0.16 | -$0.13 | $3.01 | $1.65 | $2.11 | — |
| Free cash flow | $195M | $213M | $173M | $200M | $333M | $300M |
| Gross margin | 78.6% | 76.3% | 77.6% | 80.2% | 79.6% | — |
| Operating margin | 7.4% | 16.9% | 33.3% | 32.9% | 36.8% | 35.5% |
| Net margin | 5.6% | -3.1% | 72.4% | 32.3% | 32.6% | 31.7% |
| Revenue growth | +33.3% | +38.5% | +1.4% | +20.7% | +27.1% | — |
| Cash + short-term investments | $486M | $313M | $426M | $482M | $762M | — |
| Total debt | $0K | $10.4M | — | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (RMBS)
P/E 38.8x · P/S 12.3x · P/FCF 31.0x · P/B 6.3x · FCF yield 3.22% · Earnings yield 2.58% · Buyback yield (TTM) 0.05%
P/E at fiscal year-ends: Dec 2025 43.6x, Dec 2024 32.1x, Dec 2023 22.7x.
Superinvestors (SEC 13F-HR, Q2 2026) (RMBS)
1 of 80 tracked investors hold RMBS. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Lee Ainslie | Maverick Capital | 0.01% | $572K | Reduced -66.9% |
Insider sales (SEC Form 4, open-market, last ~7 months) (RMBS)
5 of 13 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-02 | Kissner Charles | Director | 5,000 | $555K | 10.1% | Yes (adopted May 8, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-22 | Kissner Charles | Director | 5,000 | $525K | 9.2% | Yes (adopted May 8, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-07 | Kissner Charles | Director | 5,000 | $505K | 8.4% | Yes (adopted May 8, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-06-03 | Sayiner Necip | Director | 5,000 | $851K | 21.5% | No | Too little history (no open-market trades in 2024) |
| 2026-06-02 | Higashi Emiko | Director | 10,000 | $1.6M | 16.8% | No | Too little history (no open-market trades in 2024) |
| 2026-06-01 | Stang Eric B | Director | 5,000 | $730K | 18.9% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-26 | Higashi Emiko | Director | 5,000 | $788K | 7.7% | No | Too little history (no open-market trades in 2024) |
| 2026-05-26 | Fan Xianzhi Sean | EVP, COO | 37,914 | $5.8M | 18.4% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-22 | Shinn John | SVP, General Counsel | 1,000 | $144K | 4.5% | No | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
| 2026-05-08 | Sayiner Necip | Director | 9,824 | $1.3M | 29.7% | No | Too little history (no open-market trades in 2024) |
| 2026-05-07 | Laub Steven | Director | 1,500 | $188K | 16.6% | No | Too little history (no open-market trades in 2024) |
| 2026-04-24 | Rao Meera | Director | 2,972 | $447K | 13% | Yes (adopted November 14, 2025) | Too little history (no open-market trades in 2023) |
| 2026-04-14 | Rao Meera | Director | 8,538 | $1.0M | 27.1% | Yes (adopted November 14, 2025) | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (RMBS)
Consensus Buy (mean 2.25 on a 1–5 scale), 8 analysts; mean target USD 141.57 (low 100, high 165).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-07-28 | Evercore ISI Group | Target lowered | Outperform | $172 → $160 |
| 2026-07-28 | Rosenblatt | Maintained | Buy | $165 |
| 2026-07-16 | Benchmark | Initiated | Buy | $165 |
Total return (dividends reinvested) (RMBS)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -15.6% | +276.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -15.7% | +30.3% |
| Volatility (annualized) | 79.8% | 55.5% |
| Max drawdown | -52.9% (Jun 2026→Sep 2026) | -48.3% (Jan 2024→Sep 2024) |
RMBS revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Product Revenue | $99.2M | 47.8% | +21.9% |
| Royalty | $84.3M | 40.6% | +22.8% |
| Contractandother Revenue | $24.0M | 11.6% | +7.6% |
| Total revenue | $207.4M | 100% | — |
RMBS revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| South Korea | $93.7M | 45.2% | +18.9% |
| Other Countries | $40.3M | 19.4% | +95.8% |
| Singapore | $37.1M | 17.9% | -2.5% |
| United States | $36.3M | 17.5% | +4.5% |
| Total revenue | $207.4M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
RMBS suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Competitor | Renesas | “In the memory interface chip market, we compete with international semiconductor companies, including but not limited to Monolithic Power Systems, Montage Technology, Renesas and Texas Instruments.” |
| Competitor | Texas Instruments (TXN) | “In the memory interface chip market, we compete with international semiconductor companies, including but not limited to Monolithic Power Systems, Montage Technology, Renesas and Texas Instruments.” |
| Competitor | Cadence Design Systems (CDNS) | “In the Silicon IP market, Rambus competes with the in-house design teams at our potential customers, as well as with third-party IP suppliers, such as Cadence and Synopsys.” |
| Competitor | Synopsys (SNPS) | “In the Silicon IP market, Rambus competes with the in-house design teams at our potential customers, as well as with third-party IP suppliers, such as Cadence and Synopsys.” |
Quoted from the company's 10-K filed Feb 18, 2026.
RMBS customer concentration
In the period ended Jun 30, 2026, 2 direct customers each accounted for at least 10% (22%, 16%) of revenue, per the company's 10-Q filed Jul 28, 2026. The company does not name them.
RMBS company outlook (results filed Jul 27, 2026)
- “For the third quarter of 2026, the Company expects revenue to be between $210 million and $216 million.”
- “The Company also expects product revenue to be between $110 million and $116 million, royalties revenue to be between $69 million and $75 million, and contract and other revenue to be between $25 million and $31 million.”
- “The Company also expects GAAP operating costs and expenses to be between $137 million and $133 million and non-GAAP operating costs and expenses to be between $119 million and $115 million.”
- “The Company expects interest and other income to be $7 million.”
Analysts expect $213.0M for the current quarter, in line with the midpoint of the company's guidance ($213.0M).
Quoted word-for-word from the SEC 8-K results press release.
RMBS analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.79 | $0.78 | +1.1% | $213.0M | 6 |
| Next quarter (ends Dec 2026) | $0.84 | $0.85 | -1.7% | $224.7M | 6 |
| Current fiscal year (ends Dec 2026) | $3.04 | $2.95 | +2.9% | $828.3M | 8 |
| Next fiscal year (ends Dec 2027) | $3.77 | $3.67 | +2.8% | $997.6M | 8 |
RMBS options: expected move
Options price a move of about ±18.8% (±$15.95) by Nov 20, 2026, which includes earnings on Oct 26, 2026. Over the last 8 reports the stock moved ±11.9% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 82.8% | ±18.8% |
| Dec 18, 2026 | 56 | 73.6% | ±23.4% |
| Jan 15, 2027 | 84 | 69.5% | ±27.0% |
| Feb 19, 2027 | 119 | 71.4% | ±32.8% |
| May 21, 2027 | 210 | 69.0% | ±41.7% |
30-day implied volatility 84.1% vs 71.1% realized over the last 30 trading days. Put/call ratio (volume) 1.55. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:18 UTC)
| Price | USD 85.73 |
|---|---|
| Change | ▼ 7.62% (down) |
| Previous Close | USD 92.8 |
| Open | USD 87.93 |
| Day Range | USD 85.02 – 90.5 |
| 52-Week Range | USD 77.89 – 174.1 |
| Volume | 1,971,465 shares |
| Market Cap | $9.30B |
| Exchange | NMS |
Technical Analysis (RMBS)
Nexqual's technical model rates RMBS "SELL" based on 1 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:18 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 38.77 (neutral) |
| vs SMA50 | Below (USD 94.74) |
| MACD | -2.04 (negative) |
Analyst Ratings (RMBS)
Wall Street analysts rate RMBS "Buy" based on 8 analysts, with a mean price target of USD 141.57 (range USD 100–165), per Nexqual as of October 23, 2026 at 09:18 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 8 |
| Mean Target | USD 141.57 |
| High Target | USD 165 |
| Low Target | USD 100 |
| Buy / Hold / Sell | 6 / 2 / 0 |
Earnings (RMBS)
| Next Earnings Date | 2026-10-26 |
|---|---|
| EPS Estimate | USD 0.79 |
| Revenue Estimate | $213.02M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.77 vs est 0.72 ▲ beat |
| 2026-03-31 | USD 0.63 vs est 0.64 ▼ miss |
| 2025-12-31 | USD 0.68 vs est 0.68 ▲ beat |
| 2025-09-30 | USD 0.58 vs est 0.63 ▼ miss |
Source: Nexqual, October 23, 2026 at 09:18 UTC.
Financials & Fundamentals (RMBS)
| Total Revenue | $756.33M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +20.40% |
| Gross Margin | +80.36% |
| Operating Margin | +36.67% |
| Profit Margin | +31.69% |
| ROE | +17.79% |
| Debt / Equity | 0.01 |
| Current Ratio | 9.75 |
| Total Cash | $824.95M |
| Total Debt | $21.80M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $299.54M (39.6% of revenue) |
Source: Nexqual, October 23, 2026 at 09:18 UTC.
Financial Health Score (RMBS)
Nexqual rates Rambus Inc.'s overall financial health "Strong" across five dimensions, as of October 23, 2026 at 09:18 UTC.
| Growth | Strong — Revenue +21% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 80%, operating 37% (last 12 months) |
| Balance Sheet | Strong — $825M cash vs $22M debt, net cash position |
| Cash Flow | Strong — FCF $300M (last 4 quarters to Jun 2026, SEC), 40% margin |
| Efficiency | Solid — ROE 18%, ROA 11.0% |
Ownership (RMBS)
| Insider Ownership | +0.77% |
|---|---|
| Institutional Ownership | +94.34% |
| Shares Outstanding | 108.46M |
| Float | 107.62M |
| Short % of Float | +5.98% |
Source: Nexqual, October 23, 2026 at 09:18 UTC.
Leadership (RMBS)
Rambus Inc. is led by Luc Seraphin, CEO, President & Director, per Nexqual as of October 23, 2026 at 09:18 UTC.
| CEO, President & Director | Luc Seraphin |
|---|---|
| EVP & COO | Xianzhi Fan |
| Senior VP & CFO | Sumeet Gagneja |
| Senior Vice President of Technology Partnerships & Corporate Development | Kit Rodgers |
| Senior Vice President of Global Operations | Jeffry Moore |
Major Backers & Investors (RMBS)
Notable institutional backers of Rambus Inc. include FMR, LLC, Invesco, AIM Sector Funds (Invesco Sector Funds)-Invesco Small Cap Value Fund, according to Nexqual as of October 23, 2026 at 09:18 UTC.
Active Investors
| Investor | Stake |
|---|---|
| FMR, LLC | 9.64% |
| Invesco | 6.12% |
| AIM Sector Funds (Invesco Sector Funds)-Invesco Small Cap Value Fund | 5.11% |
| Price (T.Rowe) Associates Inc | 3.07% |
| JPMorgan | 1.94% |
| Fidelity | 1.92% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 12.88% |
| Vanguard Group | 10.09% |
| State Street | 3.61% |
| Geode Capital | 2.12% |
Source: Nexqual, October 23, 2026 at 09:18 UTC.
From Rambus Inc.'s Latest SEC 10-K Filing (filed 2026-02-18)
Key Strengths & Strategy (as disclosed to the SEC)
- Our industry-leading security IP plays a crucial role in safeguarding both data at rest and data in motion, protecting against evolving cyber threats.
- Our interface IP solutions feature both high-speed memory and chip-to-chip digital controller IP, including: Our security IP offerings comprise one of the industry's most comprehensive portfolio of solutions, including: We sell Silicon IP solutions to leading chip makers worldwide for integration into their custom silicon, Application Specific Standard Products ("ASSP") and Field Programmable Gate Array ("FPGA") designs.
- Rambus is committed to the sustained investment in our technology development and product roadmap to stay at the forefront of the innovation cycle and advance our product leadership.
Legal & Regulatory Risks (Item 1A, quoted)
- Litigation and government proceedings could affect our business in materially negative ways.
- We have been and may be subject to legal claims or regulatory matters involving consumer, stockholder class action and derivative, employment, competition, IP and other issues on a global basis.
- We have in the past, and may in the future, become engaged in litigation stemming from our efforts to protect and enforce our patents and IP and make other claims, which could adversely affect our IP rights, distract our management and cause substantial expenses and declines in our revenue and stock price.
- Litigation or other third-party claims of IP infringement could require us to expend substantial resources and could prevent us from developing or licensing our technology on a cost-effective basis.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| SMTC | Semtech Corporation | USD 125.12 | ▼ 11.66% |
| SIMO | Silicon Motion Technology Corpo | USD 187.96 | ▼ 15.45% |
| SLAB | Silicon Laboratories, Inc. | USD 221.12 | ▼ 0.27% |
| MXL | MaxLinear, Inc | USD 65.28 | ▼ 13.87% |
| SITM | SiTime Corporation | USD 462.72 | ▼ 9.13% |
| LSCC | Lattice Semiconductor Corporati | USD 96.4 | ▼ 10.57% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:18 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt