Rambus, Inc. (RMBS) Upgraded to “B-” by TheStreet
Other equities analysts also recently issued research reports about the company. BidaskClub downgraded Rambus from a sell rating to a strong sell rating in a research report on Wednesday, August 23rd. Jefferies Group LLC reiterated a hold rating and set a $14.00 price target (up previously from $13.50) on shares of Rambus in a research report on Tuesday, July 25th. J P Morgan Chase & Co downgraded Rambus from an overweight rating to a neutral rating and set a $15.00 target price on the stock. in a research report on Friday, September 22nd. Zacks Investment Research downgraded Rambus from a buy rating to a hold rating in a research report on Friday, August 25th. Finally, Loop Capital restated a buy rating and issued a $16.00 target price on shares of Rambus in a research report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Rambus presently has a consensus rating of Hold and a consensus price target of $14.75.
Shares of Rambus (NASDAQ RMBS) traded up 0.07% during mid-day trading on Friday, reaching $13.65. The company had a trading volume of 23,898 shares. Rambus has a 52 week low of $11.30 and a 52 week high of $14.39. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 227.50 and a beta of 0.82. The stock has a 50 day moving average of $13.30 and a 200-day moving average of $12.65.
Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, July 24th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $94.70 million for the quarter, compared to the consensus estimate of $93.00 million. Rambus had a return on equity of 9.28% and a net margin of 1.76%. Rambus’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.15 earnings per share. On average, analysts expect that Rambus will post $0.65 earnings per share for the current fiscal year.
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In related news, SVP Laura Stark sold 3,069 shares of the stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $13.65, for a total value of $41,891.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ellis Thomas Fisher sold 6,437 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $13.65, for a total value of $87,865.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,799 shares of company stock worth $941,231. Company insiders own 2.00% of the company’s stock.
Several large investors have recently bought and sold shares of RMBS. UBS Asset Management Americas Inc. increased its holdings in shares of Rambus by 32.5% in the first quarter. UBS Asset Management Americas Inc. now owns 54,002 shares of the semiconductor company’s stock valued at $710,000 after purchasing an additional 13,261 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Rambus in the first quarter valued at approximately $350,000. Ameriprise Financial Inc. increased its holdings in shares of Rambus by 5.2% in the first quarter. Ameriprise Financial Inc. now owns 580,918 shares of the semiconductor company’s stock valued at $7,633,000 after purchasing an additional 28,828 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Rambus by 6.1% in the first quarter. Parametric Portfolio Associates LLC now owns 135,293 shares of the semiconductor company’s stock valued at $1,778,000 after purchasing an additional 7,739 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Rambus in the first quarter valued at approximately $117,000. 76.47% of the stock is owned by hedge funds and other institutional investors.
Rambus Company Profile
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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