Rambus Given New $13.50 Price Target at Jefferies Group (RMBS)
Investment analysts at Jefferies Group cut their price objective on shares of Rambus (NASDAQ:RMBS) from $15.00 to $13.50 in a note issued to investors on Friday. Jefferies Group’s price target indicates a potential upside of 10.93% from the company’s current price.
Rambus (NASDAQ:RMBS) traded up 1.97% during mid-day trading on Friday, hitting $12.41. 319,691 shares of the company’s stock traded hands. Rambus has a one year low of $8.12 and a one year high of $14.82. The stock has a 50-day moving average of $12.39 and a 200-day moving average of $11.7. The company’s market cap is $1.420 billion.
Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, July 21st. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.11. The company had revenue of $76.50 million for the quarter, compared to the consensus estimate of $76.00 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, analysts predict that Rambus will post $0.21 earnings per share for the current fiscal year.
RMBS has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Rambus in a research note on Tuesday, July 22nd. They now have a $17.00 price target on the stock, up previously from $16.00. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Rambus from $15.00 to $15.50 in a research note on Friday, July 18th. They now have an “overweight” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rambus in a research note on Thursday, June 12th. They now have a $15.00 price target on the stock, up previously from $13.50. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Rambus currently has a consensus rating of “Buy” and an average price target of $15.70.
Rambus Inc is a technology solutions company. The Company’s divisions include Memory and Interfaces Division, Cryptography Research Division and Labs.
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