Rambus, Inc. (RMBS) Given Hold Rating at Jefferies Group LLC
Jefferies Group LLC reaffirmed their hold rating on shares of Rambus, Inc. (NASDAQ:RMBS) in a research note issued to investors on Tuesday morning. The firm currently has a $14.00 target price on the semiconductor company’s stock, up from their previous target price of $13.50.
Several other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Rambus from a hold rating to a sell rating in a research report on Saturday, April 29th. TheStreet raised shares of Rambus from a c rating to a b- rating in a research report on Monday, April 24th. Finally, BidaskClub lowered shares of Rambus from a sell rating to a strong sell rating in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $15.10.
Shares of Rambus (NASDAQ RMBS) traded down 0.77% on Tuesday, hitting $12.97. 539,893 shares of the company’s stock were exchanged. The firm has a market cap of $1.43 billion, a P/E ratio of 216.17 and a beta of 0.87. Rambus has a 12 month low of $11.30 and a 12 month high of $14.50. The stock’s 50 day moving average is $12.23 and its 200 day moving average is $12.65.
Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, July 24th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. Rambus had a net margin of 1.76% and a return on equity of 9.28%. The company had revenue of $94.70 million for the quarter, compared to analyst estimates of $93 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. On average, equities analysts predict that Rambus will post $0.65 earnings per share for the current year.
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In related news, SVP Laura Stark sold 3,644 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $12.06, for a total transaction of $43,946.64. Following the completion of the transaction, the senior vice president now owns 209,176 shares of the company’s stock, valued at $2,522,662.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders have sold 12,830 shares of company stock valued at $160,008. 2.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of RMBS. BlackRock Inc. boosted its position in shares of Rambus by 17,759.2% in the first quarter. BlackRock Inc. now owns 14,458,840 shares of the semiconductor company’s stock valued at $189,990,000 after buying an additional 14,377,880 shares in the last quarter. Norges Bank purchased a new position in shares of Rambus during the fourth quarter valued at approximately $18,037,000. Primecap Management Co. CA boosted its position in shares of Rambus by 10.1% in the first quarter. Primecap Management Co. CA now owns 9,589,497 shares of the semiconductor company’s stock valued at $126,006,000 after buying an additional 881,225 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Rambus by 420.9% in the first quarter. Teachers Advisors LLC now owns 928,813 shares of the semiconductor company’s stock valued at $12,205,000 after buying an additional 750,499 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Rambus by 5.5% in the first quarter. Vanguard Group Inc. now owns 9,847,561 shares of the semiconductor company’s stock valued at $129,396,000 after buying an additional 513,316 shares in the last quarter. 78.54% of the stock is owned by institutional investors.
Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.
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