NEW YORK (TheStreet) -- Shares of Rambus (RMBS) - Get Report were climbing 5.92% to $12.70 in after-hours trading on Monday after the company posted earnings and revenue that beat analysts' expectations.
After today's market close, the Sunnyvale, CA-based maker of semiconductor and IP products reported adjusted earnings of 16 cents per diluted share, exceeding analysts' projections of 13 cents per share.
Revenue jumped 22% to $89.9 million year-over-year and was above analysts' forecasts of $86.6 million. The increase was due to higher revenue from sales of memory products and security technology development projects.
For the fourth quarter, Rambus expects earnings per diluted share in the range of 14 cents to 18 cents on revenue of $94 million to $98 million. Analysts are looking for earnings of 15 cents per share on revenue of $94 million for the current period.
About 1.25 million of the company's shares traded today compared to its average 30-day volume of 646,861 shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and good cash flow from operations.
The team believes its strengths outweigh the fact that the company has had sub par growth in net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: RMBS