Rambus Inc. (RMBS) Receives Average Rating of “Buy” from Brokerages
Shares of Rambus Inc. (NASDAQ:RMBS) have received an average recommendation of “Buy” from the ten ratings firms that are presently covering the company. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $14.14.
A number of research firms recently weighed in on RMBS. JPMorgan Chase & Co. restated a “hold” rating and issued a $12.50 price target on shares of Rambus in a report on Tuesday, July 5th. Zacks Investment Research upgraded Rambus from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. Citigroup Inc. upped their price target on Rambus from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 20th. Benchmark Co. restated a “positive” rating on shares of Rambus in a report on Tuesday, October 4th. Finally, Jefferies Group restated a “hold” rating and issued a $12.50 price target on shares of Rambus in a report on Wednesday, July 6th.
In other news, CEO Ronald D. Black sold 29,528 shares of the firm’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $13.51, for a total transaction of $398,923.28. Following the sale, the chief executive officer now owns 359,241 shares in the company, valued at $4,853,345.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Shrigley sold 5,000 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $13.79, for a total value of $68,950.00. Following the sale, the director now owns 53,379 shares in the company, valued at approximately $736,096.41. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
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Large investors have recently bought and sold shares of the company. Princeton Alpha Management LP acquired a new stake in Rambus during the second quarter valued at about $130,000. Jefferies Group LLC acquired a new stake in Rambus during the second quarter valued at about $135,000. Advisors Capital Management LLC acquired a new stake in Rambus during the second quarter valued at about $137,000. Sei Investments Co. boosted its stake in 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. boosted its stake in 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. Institutional investors and hedge funds own 74.55% of the company’s stock.
Rambus (NASDAQ:RMBS) traded down 2.44% during midday trading on Tuesday, reaching $12.02. The company’s stock had a trading volume of 180,419 shares. The company has a 50 day moving average price of $13.12 and a 200 day moving average price of $12.72. Rambus has a 1-year low of $9.86 and a 1-year high of $14.50. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 6.84 and a beta of 1.32.
Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, July 18th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $76.50 million for the quarter, compared to analysts’ expectations of $74.44 million. Rambus had a return on equity of 10.40% and a net margin of 66.99%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 EPS. On average, equities research analysts expect that Rambus will post $0.56 EPS for the current year.
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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