Rambus
Builds memory-interface chipsets and licenses interface and security IP for data-intensive computing.
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Profile
Sells memory-interface chipsets for server and client memory modules and licenses interface and security IP to chip designers. Revenue combines product sales, patent royalties, and engineering-related fees, with a fabless supply chain and a customer base concentrated among major DRAM manufacturers.
Designs memory-interface chips and licenses silicon IP for data-intensive computing, centered on data-center and AI infrastructure. Complete chipsets combine clocking, data-buffer, power-management, and sensing components for DDR5 and LPDDR5 server and client memory modules. Digital controller IP covers PCIe, CXL, HBM, GDDR, DDR, LPDDR, and MIPI interfaces; security IP spans roots of trust and cryptographic engines.
Revenue comes from chip sales, patent royalties, and contract fees for IP licenses, engineering, support, and maintenance. Memory-interface chips are the largest source, and most revenue comes from customers outside the United States.
Operates a fabless model, relying on Asian foundries and assembly-and-test contractors. Chip demand follows server and client memory transitions, while product revenue is concentrated among major DRAM manufacturers and license revenue depends on patent and technology renewals.
Company facts
Key statistics
Year to date −13.7% · Average volume (30d) 2.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jul 28, 2026 | GLJ Research | Target | $165 | ||
| Jul 15, 2026 | Benchmark Co. | Target | $165 | ||
| Jul 15, 2026 | Benchmark | Initiate | Buy | ||
| Apr 28, 2026 | Evercore ISI | Target | $119 | $172 | |
| Apr 28, 2026 | Jefferies | Target | $75 | $145 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 27, 2026Q2 FY26 | $0.72 | $0.77 | +7.4% | $199.3M | $207.4M | +4.1% | −8.99% |
| Apr 27, 2026Q1 FY26 | $0.61 | $0.63 | +3.3% | $179.9M | $180.2M | +0.1% | −21.26% |
| Feb 2, 2026Q4 FY25 | $0.68 | $0.68 | 0.0% | $188.2M | $190.2M | +1.1% | −13.42% |
| Oct 27, 2025Q3 FY25 | $0.63 | $0.63 | 0.0% | $176.0M | $178.5M | +1.4% | −8.71% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $166.7M | $172.2M | $178.5M | $190.2M | $180.2M | $207.4M | |
| Gross profit | $125.7M | $129.0M | $132.9M | $150.0M | $143.7M | $165.4M | |
| Operating income | $63.1M | $63.0M | $63.3M | $70.8M | $61.8M | $72.7M | |
| Net income | $60.3M | $57.9M | $48.4M | $63.8M | $59.9M | $67.6M | |
| Diluted EPS | $0.56 | $0.53 | $0.44 | $0.58 | $0.55 | $0.61 | |
| Gross margin | 75.4% | 74.9% | 74.4% | 78.9% | 79.7% | 79.8% | |
| Operating margin | 37.9% | 36.6% | 35.4% | 37.2% | 34.3% | 35.1% |
Fiscal years (4-quarter sums)FY21 $328.3M · FY22 $454.8M · FY23 $461.1M · FY24 $556.6M · FY25 $707.6M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $824.9M · Total debt $21.8M · Total assets $1.61B · Shareholders' equity $1.47B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 108.46M · Float 107.61M · 99.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 13.96M | 12.88% | 13F | Aug 7, 2026 |
| FMR LLC | 10.46M | 9.64% | 13F | Aug 13, 2026 |
| Invesco Ltd. | 6.63M | 6.12% | 13F | Aug 14, 2026 |
| Vanguard Portfolio Management LLC | 6.07M | 5.60% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 4.87M | 4.49% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 7, 2026 | Charles Kissner | director | −5,000 | $100.92 |
| Jun 2, 2026 | Emiko Higashi | director | −10,000 | $160.50 |
| Jun 3, 2026 | Necip Sayiner | director | −5,000 | $170.15 |
| Jun 1, 2026 | Eric B. Stang | director | −5,000 | $146.00 |
| May 26, 2026 | Emiko Higashi | director | −5,000 | $157.57 |
Peers
- Synopsys
Widest silicon IP: PCIe/CXL/DDR/HBM interface plus PUF and Root-of-Trust.
- Cadence Design Systems
Acquired Rambus PHY IP (2023); direct rival in PCIe, CXL, and DDR IP.
- Monolithic Power Systems
DDR5 PMIC, SPD Hub, TS, and RCD supplier for server and client DIMMs.
- Texas Instruments
Diversified analog company; DDR5 PMIC building blocks cited in Rambus 10-K.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Rambus | $86.08 | +0.42% | $9.30B | 39.3 | 25.4 | 12.3 | +20.4% |
| Synopsys | $442.91 | +0.07% | $84.75B | 185.3 | 26.9 | 9.0 | +42.4% |
| Cadence Design Systems | $329.89 | −3.10% | $93.74B | 67.7 | 39.7 | 16.1 | +24.2% |
| Monolithic Power Systems | $1,258.47 | +0.18% | $61.72B | 77.0 | 39.0 | 18.9 | +47.6% |
| Texas Instruments | $258.44 | −0.09% | $236.20B | 39.3 | 27.2 | 12.1 | +22.8% |
| Median | 72.3 | 33.1 | 14.1 | +33.3% |