BN · rank #12 · 2026-09-04
RMBS
NASDAQ · $9.12B (USD)
The exact numbers the algorithm saw.
| Composite score Z-score blend of the factors below; drives the rank. | 0.51 |
|---|---|
| Forward revenue growth Consensus forward revenue growth. | +19.7% |
| Forward net margin Consensus forward net margin. | +32.3% |
| Net margin TTM Trailing twelve month net margin. | +31.7% |
| Margin expansion Forward minus trailing net margin (percentage points). | +0.6% |
| Forward PEG Forward P/E to growth. Below 1 is cheap for the growth. | 3.80 |
| Debt / FCF Net debt relative to free cash flow. Lower is safer. | 0.07× |
| Analyst upside Spread between the consensus 12m target and the current price. | +74.9% |
| Last EPS surprise Most recent reported EPS versus consensus. | +10% |
| Market cap (USD) | $9.12B |
The AI research card
Independent qualitative review of each pick before the order is placed. On the rare day the research service is unavailable, the paper book trades on the quant ranking alone and no card appears here.
Summary
Rambus is a fabless semiconductor and IP licensing company supplying DDR5 memory interface chips, HBM/GDDR/PCIe/CXL controller IP, and security IP to data center and AI infrastructure customers.
Rationale
Record Q2 2026 revenue (+20% YoY), ~45% non-GAAP operating margins, a 10% EPS beat, and an expanding PCIe 7.0/CXL 3.1 portfolio directly confirm the bottleneck-solver thesis—Rambus sits at the memory and interconnect chokepoints that AI scale-out cannot bypass.
Material risks
- 1Royalty revenue (~$84M/quarter) depends on licensing agreements with a concentrated set of DRAM manufacturers (Samsung, SK Hynix, Micron); a non-renewal or renegotiation at lower rates would structurally impair ~40% of revenue with little lead time.
- 2Forward PEG of 3.8x signals the market has already priced significant execution; any deceleration in AI infrastructure capex or a product cycle delay in HBM4/PCIe 7.0 adoption compresses the multiple sharply given limited margin for error.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 2 of 3 voted to proceed.