Rambus makes modest gains after topping 2Q estimates

Rambus shares moved up 6 5/32 to 219 31/32 Thursday after the chipmaker hurdled analysts' estimates in its second quarter.

In the quarter, Rambus (Nasdaq: RMBS) posted a profit of $4.9 million, or 15 cents a share, on sales of $15.7 million.

First Call consensus expected the chipmaker to earn 14 cents a share in the quarter.

The $15.7 million in sales marks a 59 percent improvement from the year-ago quarter when it pocketed $2.9 million, or 8 cents a share, on sales of $12 million.

Company officials said it exited the quarter with $96 million in cash. Meanwhile, deferred revenue decreased to $35 million from $44 million in the prior quarter.

Rambus shares moved up to an all-time high of 471 in March after announcing a 4-for-1 stock split.

Its shares were trading at 51 1/2 last April.

First Call consensus expects it to earn 61 cents a share in the fiscal year.

Two of the four analysts' following the stock rate it either a "buy" or "strong buy" while the other two analysts call it a "hold."