Rambus (RMBS) Surges 14.9%: Is This an Indication of Further Gains?

Rambus RMBS shares ended the last trading session 14.9% higher at $88.58. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.4% gain over the past four weeks.Rambus is benefiting from strong growth in its memory interface chip business, particularly DDR5 products, driving record product revenue and market outperformance.This memory chip designer is expected to post quarterly earnings of $0.62 per share in its upcoming report, which represents a year-over-year change of +24%. Revenues are expected to be $175 million, up 19.2% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Rambus, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RMBS going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Rambus is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, Lam Research LRCX, finished the last trading session 7.7% higher at $115.58. LRCX has returned 0.6% over the past month.For Lam Research, the consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $1.21. This represents a change of +40.7% from what the company reported a year ago. Lam Research currently has a Zacks Rank of #3 (Hold).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Rambus, Inc. (RMBS): Free Stock Analysis Report Lam Research Corporation (LRCX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks