Rambus (NASDAQ:RMBS) Announces Earnings Results, Misses Expectations By $0.09 EPS

Rambus (NASDAQ:RMBS) issued its quarterly earnings data on Monday. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.09), Zacks reports. Rambus had a net margin of 33.72% and a return on equity of 17.73%.

Rambus Price Performance

Shares of NASDAQ RMBS traded down $0.12 during midday trading on Monday, reaching $113.71. 6,716,763 shares of the stock were exchanged, compared to its average volume of 2,579,091. Rambus has a 12 month low of $40.12 and a 12 month high of $135.75. The business has a 50-day simple moving average of $100.64 and a two-hundred day simple moving average of $92.38. The company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 53.89 and a beta of 1.53.

Insider Transactions at Rambus

In other Rambus news, Director Eric B. Stang sold 5,000 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $102.35, for a total value of $511,750.00. Following the completion of the sale, the director directly owned 24,394 shares in the company, valued at $2,496,725.90. This represents a 17.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Rambus

Institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its position in shares of Rambus by 126.7% in the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 247 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Rambus by 83.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 353 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Rambus by 1,194.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 505 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 466 shares during the period. Advisory Services Network LLC acquired a new position in shares of Rambus in the third quarter valued at $71,000. Finally, Quantbot Technologies LP bought a new position in Rambus in the 2nd quarter valued at about $102,000. 88.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

RMBS has been the topic of a number of recent research reports. Jefferies Financial Group upgraded Rambus to a “strong-buy” rating in a research report on Tuesday, October 28th. Cfra Research cut Rambus from a “hold” rating to a “moderate sell” rating in a report on Monday, December 15th. Weiss Ratings upgraded shares of Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 26th. Wells Fargo & Company lifted their price target on shares of Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $130.00 price target on shares of Rambus in a research note on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Rambus presently has a consensus rating of “Buy” and a consensus target price of $108.14.

About Rambus

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.