Rambus Inc. (RMBS) Trading Down 1%
Rambus Inc. (NASDAQ:RMBS) shares fell 1% on Wednesday . The company traded as low as $12.46 and last traded at $12.53, with a volume of 1,065,871 shares changing hands. The stock had previously closed at $12.66.
A number of brokerages recently weighed in on RMBS. Zacks Investment Research upgraded Rambus from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. Wunderlich began coverage on Rambus in a report on Friday, June 3rd. They issued a “buy” rating and a $15.00 target price on the stock. Citigroup Inc. lifted their target price on Rambus from $14.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, July 20th. Jefferies Group reissued a “hold” rating and issued a $12.50 price objective on shares of Rambus in a research report on Wednesday, July 6th. Finally, JPMorgan Chase & Co. reissued a “hold” rating and issued a $12.50 price objective on shares of Rambus in a research report on Tuesday, July 5th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Rambus presently has a consensus rating of “Buy” and a consensus target price of $14.11.
The stock has a 50 day moving average price of $13.54 and a 200 day moving average price of $12.80. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 7.13 and a beta of 0.93.
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Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, July 18th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. Rambus had a net margin of 66.99% and a return on equity of 10.40%. The company had revenue of $76.50 million for the quarter, compared to the consensus estimate of $74.44 million. During the same period in the previous year, the business earned $0.13 EPS. The company’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts predict that Rambus Inc. will post $0.59 EPS for the current year.
In other Rambus news, SVP Laura Stark sold 4,010 shares of the business’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $11.55, for a total transaction of $46,315.50. Following the sale, the senior vice president now directly owns 172,619 shares of the company’s stock, valued at approximately $1,993,749.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Satish Rishi sold 2,000 shares of the business’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $13.49, for a total transaction of $26,980.00. Following the sale, the senior vice president now directly owns 251,838 shares in the company, valued at $3,397,294.62. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Princeton Alpha Management LP purchased a new stake in shares of Rambus during the second quarter valued at about $130,000. Jefferies Group LLC purchased a new stake in shares of Rambus during the second quarter valued at about $135,000. Advisors Capital Management LLC purchased a new stake in shares of Rambus during the second quarter valued at about $137,000. Sei Investments Co. increased its stake in shares of Rambus by 20.4% in the second quarter. Sei Investments Co. now owns 13,310 shares of the company’s stock valued at $160,000 after buying an additional 2,255 shares during the period. Finally, PineBridge Investments L.P. increased its stake in shares of Rambus by 4.3% in the second quarter. PineBridge Investments L.P. now owns 13,960 shares of the company’s stock valued at $168,000 after buying an additional 580 shares during the period. 74.55% of the stock is currently owned by institutional investors.
Rambus Inc produces semiconductor and Internet protocol (IP) products, spanning memory and interfaces to security, sensors and lighting. The Company’s products are integrated into devices and systems, powering and securing diverse applications, including big data and media platforms. Its segments include Memory and Interfaces Division (MID) and Cryptography Research Division (CRD).
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