Rambus, Inc. (RMBS) Given Consensus Recommendation of “Buy” by Analysts
Rambus, Inc. (NASDAQ:RMBS) has been assigned an average recommendation of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $15.10.
RMBS has been the subject of several recent research reports. Loop Capital reissued a “buy” rating and issued a $16.00 price objective on shares of Rambus in a research report on Tuesday. BidaskClub raised shares of Rambus from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 8th. Jefferies Group LLC reissued a “hold” rating and issued a $13.50 price objective on shares of Rambus in a research report on Tuesday, April 25th. Zacks Investment Research lowered shares of Rambus from a “hold” rating to a “sell” rating in a research report on Saturday, April 29th. Finally, TheStreet lowered shares of Rambus from a “b-” rating to a “c+” rating in a research report on Friday, June 16th.
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In other news, SVP Laura Stark sold 3,644 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $12.06, for a total value of $43,946.64. Following the completion of the transaction, the senior vice president now directly owns 209,176 shares in the company, valued at $2,522,662.56. The sale 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 company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $12.98, for a total transaction of $64,900.00. Following the completion of the transaction, the director now owns 46,253 shares of the company’s stock, valued at $600,363.94. The disclosure for this sale can be found here. Insiders sold 59,927 shares of company stock valued at $760,522 over the last 90 days. Insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Rambus by 17,759.2% in the first quarter. BlackRock Inc. now owns 14,458,840 shares of the semiconductor company’s stock valued at $189,990,000 after buying an additional 14,377,880 shares during the period. Vanguard Group Inc. increased its position in shares of Rambus by 1.9% in the second quarter. Vanguard Group Inc. now owns 10,036,227 shares of the semiconductor company’s stock valued at $114,714,000 after buying an additional 188,666 shares during the period. Primecap Management Co. CA increased its position in shares of Rambus by 10.1% in the first quarter. Primecap Management Co. CA now owns 9,589,497 shares of the semiconductor company’s stock valued at $126,006,000 after buying an additional 881,225 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Rambus by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,461,927 shares of the semiconductor company’s stock valued at $51,001,000 after buying an additional 112,208 shares during the period. Finally, Neuberger Berman Group LLC increased its position in shares of Rambus by 1.3% in the first quarter. Neuberger Berman Group LLC now owns 3,625,211 shares of the semiconductor company’s stock valued at $47,635,000 after buying an additional 46,970 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.
Shares of Rambus (NASDAQ RMBS) opened at 12.73 on Wednesday. The company has a 50 day moving average price of $12.65 and a 200-day moving average price of $12.54. Rambus has a one year low of $11.30 and a one year high of $14.50. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 212.17 and a beta of 0.90.
Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, July 24th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. Rambus had a net margin of 1.76% and a return on equity of 9.28%. The company had revenue of $94.70 million during the quarter, compared to analyst estimates of $93 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. Equities analysts predict that Rambus will post $0.65 earnings per share for the current fiscal year.
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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