On July 31, Rambus rose 5.23% in regular trading, trading at $92.36/share, with turnover of $20.59 million. The stock continues to rebound on dual support from semiconductor sector sentiment recovery and better-than-expected quarterly results.

Rambus reported Q2 adjusted earnings of $0.77 per share on July 27, beating the consensus estimate of $0.72 by 6.94%, representing a 24.19% year-over-year increase. Revenue came in at $207.4 million, surpassing the $199 million estimate and growing 20.4% year-over-year. Q3 guidance calls for revenue of $210 million to $216 million with adjusted EPS of $0.75 to $0.82, largely in line with expectations.

The stock had previously surged 11.81% to $106.3 in after-hours trading immediately following the earnings release, but was subsequently dragged down by a broad semiconductor sector selloff triggered by Morgan Stanley warning that memory contract prices would peak in Q4. The sector has since stabilized, with Micron Technology up 1.33%, NVIDIA up 1.61%, AMD up 2.89%, SK hynix up 2.42%, and Intel up 3.01%.

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