Rambus Inc Del Stock Price, News & Analysis

Rambus Inc. (Nasdaq: RMBS) is participating in IntelON on September 27-28, 2022, at the San Jose McEnery Convention Center. The company will showcase its DDR5 Registering Clock Driver, Serial Presence Detect Hub, and Temperature Sensor, designed for enhanced performance in DDR5 memory modules targeted at servers, storage systems, and PCs. The DDR5 RCD is crucial for managing clock and command signals, while the SPD Hub improves RDIMM communication. Visitors can see live demonstrations at Booth #101 and learn more about Rambus' innovative solutions.

M6 Midstream announced a final investment decision on its New Generation Gas Gathering project, aiming for an initial capacity of 1.7 Bcf/d with potential expansion to 2.2 Bcf/d. The project, which includes a carbon capture component to sequester 2.0 million tons of CO2 annually, is set to commence operations in the second half of 2024. Additionally, M6 completed acquisitions of Midcoast Energy’s East Texas business and Align Midstream to enhance its presence in the Haynesville Shale, increasing current volumes to over 2.0 Bcf/d across 3,000 miles of pipeline.

Rambus Inc. (NASDAQ: RMBS) will participate in the AI Hardware Summit from September 13-15, 2022, at Booth #123 in Santa Clara, CA. Dr. Steven Woo will lead a panel on memory innovation, focusing on new system architectures to enhance AI/ML performance. The panel will discuss advances in technologies like CXL and HBM that improve data throughput, which is crucial for future processors. For more information, visit rambus.com/event/ai-hardware-summit/.

Rambus announced a $100 million accelerated share repurchase program with Wells Fargo Bank, aimed at enhancing shareholder value. Initial delivery will consist of approximately 3.1 million shares. This strategic move reflects Rambus' confidence in its growth potential and commitment to long-term investments in critical technologies. The repurchase program is part of a broader initiative previously authorized by the Board of Directors, with completion expected within four months.

Lumileds has announced its entry into a prepackaged Chapter 11 restructuring plan aimed at reducing its debt by $1.3 billion. This process affects only its operations in the U.S. and Netherlands, while global operations remain unaffected. The plan includes $275 million in debtor-in-possession financing, allowing Lumileds to continue regular operations and pay employee wages without interruption. The company aims to emerge from Chapter 11 within approximately sixty days, significantly strengthening its liquidity and financial position.

Rambus Inc. (Nasdaq: RMBS) has announced that Desmond Lynch, CFO, will present at the Deutsche Bank 2022 Technology Conference on Wednesday, August 31, 2022, at 11:15 a.m. PT. The presentation will be available via webcast on the Rambus Investor Relations website, with a replay accessible post-event. Rambus specializes in advanced chips and silicon IP, enhancing data safety and speed, and has over 30 years of experience in high-performance memory subsystems to address data bottlenecks. For further details, visit rambus.com.

Xperi Holding Corporation (NASDAQ: XPER) announced the appointment of Keith Jones as CFO of Adeia, its intellectual property (IP) business, effective August 8, 2022. Jones joins from Rambus (NASDAQ: RMBS), where he served in various finance roles, including Interim CFO. His leadership experience in IP licensing and public companies is seen as a strategic fit for Adeia as it prepares for its upcoming separation and public listing. Paul Davis, President of Adeia, expressed confidence in Jones's ability to enhance the company's market position.

Rambus Inc. has appointed Desmond Lynch as its new senior vice president and chief financial officer, effective immediately. Lynch brings over 20 years of experience in finance and the semiconductor industry, having previously served as vice president of finance at Rambus since 2020. He will oversee the company's financial direction and report directly to CEO Luc Seraphin. Lynch’s appointment aims to strengthen leadership as the company continues to focus on profitable growth strategies.

Rambus (RMBS) reported Q2 2022 revenue of $121.1 million, exceeding guidance, driven by record product revenue of $53.3 million from memory interface chips. Licensing billings totaled $66.1 million, while net income reached $35.0 million with a diluted EPS of $0.31. The company generated $56.5 million in cash from operations, indicating strong operational efficiency. Additionally, Rambus expanded its DDR5 portfolio. Looking ahead, guidance for Q3 includes licensing billings of $63-$69 million and product revenue of $51-$57 million.