The ASR reduces outstanding shares and signals management confidence, but the $100M cash outflow is modest relative to the $10B market cap. Monitor for completion by end of Q3 2026 and future quarterly filings for actual share count reduction and EPS accretion.
Price Chart
Executive Summary
Rambus entered into an accelerated share repurchase (ASR) agreement with Mizuho Markets Americas LLC to repurchase $100 million of its common stock. The company will prepay $100 million and receive an initial delivery of ~796,000 shares, with the final share count determined by the VWAP during the transaction term, less a discount. The program is expected to be completed by the end of Q3 2026 and is part of a previously authorized buyback program.
Key Facts
- Rambus entered into an ASR agreement to repurchase $100 million of common stock.
- Initial delivery of approximately 796,000 shares; final number based on VWAP less discount.
- Prepayment of $100 million to dealer on August 5, 2026.
- Transaction expected to be completed by end of Q3 2026.
- Part of a broader share repurchase program previously authorized by the board.
Financial Impact
$100 million share repurchase, representing approximately 1% of market capitalization ($10B).
Risk Factors
- Execution risk: final repurchase price depends on VWAP, which could be higher than current levels.
- Opportunity cost: $100M cash deployed could limit flexibility for M&A or R&D investments.
- Potential dilution if the company issues equity later to replenish cash.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (RMBS) — Batch item 1 | 0001193125-26-333887 |
| Document: d122300d8k.htm | 0001193125-26-333887 |
| Document: d122300dex991.htm | 0001193125-26-333887 |
| Document: 0001193125-26-333887-index-headers.html | 0001193125-26-333887 |
| Document: 0001193125-26-333887-index.html | 0001193125-26-333887 |
| Document: 0001193125-26-333887.txt | 0001193125-26-333887 |
| 8-K Filing (RMBS) — Batch item 7 | 0001193125-26-333887 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 5, 2026 8w ago | 8-K | $97.30 $84.72 | ▼ −12.93% | ▼ −12.33% | $111.97 (+15.08%) |
Jul 27, 2026 9w ago | 8-K | $87.75 $89.86 | ▲ +2.40% | ▼ −0.98% | $111.97 (+27.60%) |
Jun 3, 2026 17w ago | Insider Cluster | $169.35 $112.92 | ▼ −33.32% | ▼ −31.95% | $111.97 (−33.88%) |
Jun 2, 2026 17w ago | Insider Cluster | $170.66 $112.92 | ▼ −33.83% | ▼ −32.83% | $111.97 (−34.39%) |
May 27, 2026 18w ago | Insider Cluster | $148.02 $114.73 | ▼ −22.49% | ▼ −19.35% | $111.97 (−24.35%) |
May 26, 2026 18w ago | Insider Cluster | $148.66 $123.69 | ▼ −16.80% | ▼ −14.90% | $111.97 (−24.68%) |
May 7, 2026 21w ago | Insider Cluster | $126.60 $170.66 | ▲ +34.80% | ▲ +31.67% | $111.97 (−11.56%) |
Apr 29, 2026 22w ago | 8-K | $115.11 $148.02 | ▲ +28.59% | ▲ +23.62% | $111.97 (−2.73%) |
Apr 27, 2026 22w ago | 8-K | $111.27 $157.23 | ▲ +41.30% | ▲ +35.84% | $111.97 (+0.63%) |
Apr 24, 2026 23w ago | 8-K | $141.31 $157.23 | ▲ +11.27% | ▲ +6.31% | $111.97 (−20.76%) |
US Market Status
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