Zacks Investment Research | Sep 20, 2017 08:20AM ET
Shares of chip designer, Rambus Inc. (NASDAQ:RMBS) have been performing well of late. Moreover, strong fundamentals and rising estimates is likely to aid in its bullish run. Consequently, if you haven’t taken advantage of the current situation yet, it’s time you add the stock to your portfolio.
The company has performed extremely well so far this year and has the potential to carry on the momentum in the near term. The stock has long-term expected earnings per share growth rate of 10%.
Ahead of the Industry
Rambus has outperformed the industry to which it belongs in the past three months. Share price of the company rose 14.7% compared with the industry’s meager gain of 2.5%.
Estimates Northbound
Estimates for Rambus have moved up in the last 60 days, reflecting the optimistic outlook of analysts. The earnings estimates for current quarter and fiscal 2017 have gone up over the same time frame.
For the current quarter, the Zacks Consensus Estimate for earnings has gone up 13.3% in the last 60 days and is pegged at 17 cents. The Zacks Consensus Estimate for fiscal 2017 also moved north by 4 cents (6.6%) to 65 cents.
Positive Earnings Surprise History
Rambus outpaced the Zacks Consensus Estimate in three of the trailing four quarters, generating an encouraging positive average earnings surprise of 6.9%.
Solid Rank & VGM Score
Rambus currently carries a Zacks Rank #2 (Buy) and has a Original post
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