Rambus, Inc. (RMBS) Downgraded by BidaskClub
Rambus, Inc. (NASDAQ:RMBS) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report released on Monday.
A number of other research firms also recently weighed in on RMBS. Jefferies Group LLC restated a “hold” rating and issued a $13.50 target price on shares of Rambus in a research report on Tuesday, April 25th. TheStreet upgraded Rambus from a “c” rating to a “b-” rating in a research report on Monday, April 24th. Finally, Zacks Investment Research downgraded Rambus from a “hold” rating to a “sell” rating in a research report on Saturday, April 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Rambus has an average rating of “Hold” and a consensus price target of $15.00.
Rambus (NASDAQ:RMBS) traded up 0.24% on Monday, hitting $12.64. The stock had a trading volume of 835,715 shares. The company has a 50-day moving average price of $12.08 and a 200-day moving average price of $12.68. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 180.57 and a beta of 0.87. Rambus has a 1-year low of $11.30 and a 1-year high of $14.50.
Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 24th. The semiconductor company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The company had revenue of $94.70 million during the quarter, compared to the consensus estimate of $93 million. Rambus had a return on equity of 9.70% and a net margin of 2.20%. Rambus’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS. Equities analysts predict that Rambus will post $0.62 earnings per share for the current year.
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In other Rambus news, SVP Laura Stark sold 3,992 shares of Rambus stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $12.46, for a total value of $49,740.32. Following the transaction, the senior vice president now directly owns 210,229 shares of the company’s stock, valued at approximately $2,619,453.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 12,830 shares of company stock worth $160,008 over the last ninety days. Insiders own 2.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. LS Investment Advisors LLC boosted its position in shares of Rambus by 88.5% in the first quarter. LS Investment Advisors LLC now owns 7,648 shares of the semiconductor company’s stock worth $100,000 after buying an additional 3,590 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of Rambus during the first quarter worth approximately $117,000. Engineers Gate Manager LP bought a new position in shares of Rambus during the first quarter worth approximately $135,000. State of Alaska Department of Revenue boosted its position in shares of Rambus by 3.2% in the first quarter. State of Alaska Department of Revenue now owns 12,270 shares of the semiconductor company’s stock worth $161,000 after buying an additional 380 shares during the period. Finally, Stevens Capital Management LP bought a new position in shares of Rambus during the first quarter worth approximately $199,000. 78.54% of the stock is currently owned by institutional investors and hedge funds.
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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