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Rambus beats Q2 revenue and EPS guidance, upgrades Q3 outlook, but valuation remains high at 24x EV/EBITDA.

Company Fundamentals
29 Jul 2026
Seeking Alpha
View Source
Bullish
pluang ai news

Rambus reported strong Q2 results, exceeding its own revenue and non-GAAP EPS guidance, and raised its Q3 guidance. The company’s growth is primarily driven by memory interface chips, although a shift in product mix is reducing overall gross margins and limiting operating leverage. Despite a nearly 50% pullback from recent highs, Rambus trades at a high valuation of about 24 times EV/EBITDA, reflecting optimistic future growth expectations. The analyst maintains a Hold rating, suggesting a Buy only if there is clearer visibility on volume growth by 2027 or if the valuation multiple compresses closer to 20 times EV/EBITDA.

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