Rambus, Inc. (RMBS) Stock Rating Lowered by TheStreet
Rambus, Inc. (NASDAQ:RMBS) was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating in a research report issued on Friday.
Other research analysts have also issued reports about the company. BidaskClub lowered Rambus from a “sell” rating to a “strong sell” rating in a report on Tuesday. Jefferies Group LLC reissued a “hold” rating and issued a $13.50 price objective on shares of Rambus in a report on Tuesday, April 25th. Zacks Investment Research lowered Rambus from a “hold” rating to a “sell” rating in a report on Saturday, April 29th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and issued a $14.50 price objective on shares of Rambus in a report on Tuesday, March 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $15.00.
Rambus (NASDAQ:RMBS) traded up 0.8996% during midday trading on Friday, hitting $11.8557. The company’s stock had a trading volume of 247,789 shares. Rambus has a one year low of $11.28 and a one year high of $14.50. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 169.3671 and a beta of 0.96. The company’s 50-day moving average is $12.16 and its 200 day moving average is $12.95.
Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, April 24th. The semiconductor company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $97.40 million for the quarter, compared to analyst estimates of $95.52 million. Rambus had a return on equity of 9.70% and a net margin of 2.20%. The company’s revenue was up 34.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 earnings per share. On average, analysts predict that Rambus will post $0.62 EPS for the current year.
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In related news, SVP Laura Stark sold 3,644 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $12.06, for a total transaction of $43,946.64. Following the sale, the senior vice president now directly owns 209,176 shares of the company’s stock, valued at $2,522,662.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 12,322 shares of company stock worth $153,433. 2.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of RMBS. LS Investment Advisors LLC raised its stake in Rambus by 88.5% in the first quarter. LS Investment Advisors LLC now owns 7,648 shares of the semiconductor company’s stock valued at $100,000 after buying an additional 3,590 shares during the period. Victory Capital Management Inc. raised its stake in Rambus by 113.8% in the third quarter. Victory Capital Management Inc. now owns 8,377 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 4,459 shares during the period. Ameritas Investment Partners Inc. bought a new stake in Rambus during the first quarter valued at approximately $117,000. Engineers Gate Manager LP bought a new stake in Rambus during the first quarter valued at approximately $135,000. Finally, Palo Capital Inc. bought a new stake in Rambus during the third quarter valued at approximately $130,000. 79.25% of the stock is currently owned by hedge funds and other institutional investors.
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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