Zacks Investment Research Lowers Rambus, Inc. (RMBS) to Hold
Zacks Investment Research lowered shares of Rambus, Inc. (NASDAQ:RMBS) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
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. “
A number of other analysts have also recently issued reports on RMBS. BidaskClub cut shares of Rambus from a sell rating to a strong sell rating in a research note on Tuesday, June 20th. TheStreet cut shares of Rambus from a b- rating to a c+ rating in a research note on Friday, June 16th. Jefferies Group LLC reiterated a hold rating and issued a $14.00 target price (up from $13.50) on shares of Rambus in a research note on Tuesday, July 25th. Loop Capital reiterated a buy rating and issued a $16.00 target price on shares of Rambus in a research note on Tuesday, August 22nd. Finally, J P Morgan Chase & Co cut shares of Rambus from an overweight rating to a neutral rating and set a $15.00 target price for the company. in a research note on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $14.75.
Shares of Rambus (RMBS) traded down 1.11% during trading on Wednesday, hitting $13.35. 683,290 shares of the stock were exchanged. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 222.50 and a beta of 0.91. Rambus has a 12-month low of $11.30 and a 12-month high of $14.39. The stock’s 50 day moving average is $12.90 and its 200-day moving average is $12.59.
Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, July 24th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. The firm had revenue of $94.70 million during the quarter, compared to analysts’ expectations of $93.00 million. Rambus had a net margin of 1.76% and a return on equity of 9.28%. The company’s revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 earnings per share. Equities research analysts anticipate that Rambus will post $0.65 EPS for the current year.
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In other news, SVP Laura Stark sold 3,491 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $12.90, for a total value of $45,033.90. Following the completion of the sale, the senior vice president now directly owns 208,474 shares in the company, valued at $2,689,314.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jae Kim sold 42,449 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $12.71, for a total transaction of $539,526.79. Following the completion of the sale, the senior vice president now owns 120,126 shares of the company’s stock, valued at $1,526,801.46. The disclosure for this sale can be found here. Insiders sold 62,050 shares of company stock valued at $791,282 over the last 90 days. 2.00% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake 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 worth $189,990,000 after buying an additional 14,377,880 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Rambus by 1.9% in the second quarter. Vanguard Group Inc. now owns 10,036,227 shares of the semiconductor company’s stock worth $114,714,000 after buying an additional 188,666 shares during the last quarter. Primecap Management Co. CA lifted its stake 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 worth $126,006,000 after buying an additional 881,225 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Rambus by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,461,927 shares of the semiconductor company’s stock worth $51,001,000 after buying an additional 112,208 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in shares of Rambus by 1.3% in the first quarter. Neuberger Berman Group LLC now owns 3,625,211 shares of the semiconductor company’s stock worth $47,635,000 after buying an additional 46,970 shares during the last quarter. Institutional investors and hedge funds 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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