Jefferies Group LLC Reiterates Hold Rating for Rambus Inc. (RMBS)
Rambus Inc. (NASDAQ:RMBS)‘s stock had its “hold” rating reaffirmed by equities research analysts at Jefferies Group LLC in a research report issued on Monday. They currently have a $13.50 price target on the stock. Jefferies Group LLC’s price objective indicates a potential upside of 2.04% from the company’s current price.
Several other analysts also recently weighed in on the stock. Loop Capital started coverage on shares of Rambus in a research report on Monday, December 5th. They set a “buy” rating and a $16.00 price objective for the company. Zacks Investment Research downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research report on Tuesday, December 27th. JPMorgan Chase & Co. upgraded shares of Rambus from a “neutral” rating to an “overweight” rating and set a $14.50 price target for the company in a research report on Thursday, February 9th. Finally, TheStreet downgraded shares of Rambus from a “b” rating to a “c” rating in a research report on Monday, January 30th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $15.00.
Rambus (NASDAQ:RMBS) traded down 0.08% during trading on Monday, reaching $13.23. 360,713 shares of the company’s stock traded hands. The stock has a market cap of $1.47 billion, a P/E ratio of 220.50 and a beta of 0.99. Rambus has a one year low of $11.13 and a one year high of $14.50. The firm’s 50 day moving average price is $12.87 and its 200-day moving average price is $13.06.
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Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, January 30th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The business earned $97.60 million during the quarter, compared to the consensus estimate of $96 million. Rambus had a net margin of 2.03% and a return on equity of 9.64%. The company’s revenue was up 27.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. On average, equities analysts anticipate that Rambus will post $0.64 earnings per share for the current fiscal year.
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In related news, SVP Laura Stark sold 4,010 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $12.71, for a total value of $50,967.10. Following the completion of the sale, the senior vice president now owns 161,154 shares in the company, valued at approximately $2,048,267.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jae Kim sold 9,845 shares of the company’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $12.65, for a total transaction of $124,539.25. Following the completion of the sale, the senior vice president now owns 120,898 shares of the company’s stock, valued at approximately $1,529,359.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,665 shares of company stock valued at $294,217. 2.30% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. acquired a new stake in Rambus during the third quarter valued at approximately $408,000. Palo Capital Inc. acquired a new stake in Rambus during the third quarter valued at approximately $130,000. Nationwide Fund Advisors increased its stake in Rambus by 6.1% in the third quarter. Nationwide Fund Advisors now owns 85,096 shares of the company’s stock valued at $1,064,000 after buying an additional 4,900 shares during the period. California Public Employees Retirement System boosted its position in shares of Rambus by 4.6% in the third quarter. California Public Employees Retirement System now owns 225,900 shares of the company’s stock valued at $2,824,000 after buying an additional 9,900 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in shares of Rambus by 2.7% in the third quarter. Great West Life Assurance Co. Can now owns 152,215 shares of the company’s stock valued at $1,900,000 after buying an additional 4,007 shares in the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.
Rambus Company Profile
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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