Rambus, Inc. (RMBS) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Rambus, Inc. (NASDAQ:RMBS) from a hold rating to a buy rating in a research note published on Saturday. Zacks Investment Research currently has $14.00 price target on the semiconductor company’s stock.
According to Zacks, “Rambus, Inc. designs, develops, licenses and markets high-speed chip-to-chip interface technology to enhance the performance and cost-effectiveness of computers, consumer electronics and other electronic systems. The company licenses semiconductor companies to manufacture and sell memory and logic integrated circuits incorporating Rambus interface technology and markets its solution to systems companies to encourage them to design Rambus interface technology into their products. “
RMBS has been the subject of several other research reports. BidaskClub cut Rambus from a sell rating to a strong sell rating in a report on Wednesday, August 23rd. TheStreet cut Rambus from a b- rating to a c+ rating in a report on Friday, June 16th. Jefferies Group LLC reissued a hold rating and issued a $14.00 price objective (up previously from $13.50) on shares of Rambus in a report on Tuesday, July 25th. Finally, Loop Capital reissued a buy rating and issued a $16.00 price objective on shares of Rambus in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $14.90.
Shares of Rambus (RMBS) opened at 12.88 on Friday. Rambus has a one year low of $11.30 and a one year high of $14.50. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 214.67 and a beta of 0.90. The company has a 50-day moving average price of $12.77 and a 200 day moving average price of $12.54.
Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, July 24th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The business had revenue of $94.70 million during the quarter, compared to analysts’ expectations of $93 million. Rambus had a return on equity of 9.28% and a net margin of 1.76%. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS. Equities research analysts expect that Rambus will post $0.65 earnings per share for the current year.
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In related news, SVP Laura Stark sold 3,640 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $12.59, for a total value of $45,827.60. Following the completion of the transaction, the senior vice president now owns 207,922 shares of the company’s stock, valued at approximately $2,617,737.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jae Kim sold 42,449 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $12.71, for a total value of $539,526.79. Following the completion of the transaction, the senior vice president now directly owns 120,126 shares of the company’s stock, valued at approximately $1,526,801.46. The disclosure for this sale can be found here. Insiders sold a total of 59,927 shares of company stock valued at $760,522 in the last ninety days. 2.00% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in 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 during the period. Vanguard Group Inc. raised its stake in Rambus by 1.9% in the second quarter. Vanguard Group Inc. now owns 10,036,227 shares of the semiconductor company’s stock valued at $114,714,000 after buying an additional 188,666 shares during the period. Primecap Management Co. CA raised its stake in 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 during the period. Dimensional Fund Advisors LP raised its stake in Rambus by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,461,927 shares of the semiconductor company’s stock valued at $51,001,000 after buying an additional 112,208 shares during the period. Finally, Neuberger Berman Group LLC raised its stake in Rambus by 1.3% in the first quarter. Neuberger Berman Group LLC now owns 3,625,211 shares of the semiconductor company’s stock valued at $47,635,000 after buying an additional 46,970 shares during the period. Institutional investors own 76.47% of the company’s stock.
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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