Rambus Shares Soar After Lifting 4Q Sales Forecast

By FOXBusiness

Shares of Rambus (NASDAQ:RMBS) were up more than 10% on Tuesday after the company revised higher its revenue outlook for the quarter ended on Dec. 31.

The Sunnyvale, Calif.-based maker of semiconductors for digital electronics products now anticipates fourth-period sales of $83 million, up from its earlier range of $66 million to $71 million.

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Analysts polled by Thomson Reuters are expecting revenue of just $69 million for the three-month period.

The stronger outlook comes despite losing a major lawsuit late last year, as new deals help spawn revenue growth. The company signed a patent licensing deal with Broadcom (NASDAQ:BRCM) last month.

The announcement comes as a surprise to Rambus stockholders, as its shares have fallen 60% since November when the company lost a $4 billion antitrust lawsuit against Micron Technology (NYSE:MU) and Hynix Semiconductor.

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