Rambus Receives New Coverage from Analysts at Jefferies Group (RMBS)
Jefferies Group started coverage on shares of Rambus (NASDAQ:RMBS) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $13.00 price target on the stock. Jefferies Group’s target price points to a potential upside of 52.40% from the company’s current price.
The analysts wrote, “DRAM industry fundamentals have changed dramatically and permanently in the last 12 months, and should translate into ~10% revenue upside and larger EPS upside for Rambus in CY14, driven primarily by Samsung and Elpida royalties (~45% of revs). We believe Rambus’s technology pipeline is solid, and view its business model shift toward technology solution licensing favorably. Jefferies acted as Joint Bookrunner in Rambus’ recent convertible bond offering.”
RMBS has been the subject of a number of other recent research reports. Analysts at Thomson Reuters/Verus downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research note to investors on Monday, November 25th. Finally, analysts at Zacks upgraded shares of Rambus from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, October 21st. They now have a $10.40 price target on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Rambus currently has an average rating of “Buy” and an average price target of $12.10.
Rambus (NASDAQ:RMBS) traded up 17.74% on Tuesday, hitting $10.0435. The stock had a trading volume of 5,479,540 shares. Rambus has a one year low of $4.76 and a one year high of $10.85. The stock has a 50-day moving average of $8.61 and a 200-day moving average of $8.88. The company’s market cap is $1.132 billion.
Rambus (NASDAQ:RMBS) last announced its earnings results on Thursday, October 17th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.17. The company had revenue of $73.30 million for the quarter, compared to the consensus estimate of $70.50 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, analysts predict that Rambus will post $-0.23 earnings per share for the current fiscal year.
Rambus Inc (NASDAQ:RMBS) is a technology solutions company.
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