Rambus, Inc. (RMBS) Given Consensus Rating of “Buy” by Brokerages
Shares of Rambus, Inc. (NASDAQ:RMBS) have received an average rating of “Buy” from the seven research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $14.63.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Rambus from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Saturday, August 26th. BidaskClub cut Rambus from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Loop Capital reiterated a “buy” rating and issued a $16.00 price target on shares of Rambus in a research note on Tuesday, August 22nd. Jefferies Group LLC reiterated a “hold” rating and issued a $14.00 price target (up from $13.50) on shares of Rambus in a research note on Tuesday, July 25th. Finally, TheStreet cut Rambus from a “b-” rating to a “c+” rating in a research note on Friday, June 16th.
In related news, Director David A. Shrigley sold 5,000 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was 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 directly owns 46,253 shares of the company’s stock, valued at approximately $600,363.94. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Laura Stark sold 3,640 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $12.59, for a total value of $45,827.60. Following the transaction, the senior vice president now directly owns 207,922 shares of the company’s stock, valued at $2,617,737.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,348 shares of company stock valued at $769,258. 2.00% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System raised its position in Rambus by 0.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 45,500 shares of the semiconductor company’s stock worth $520,000 after purchasing an additional 200 shares during the last quarter. Pinebridge Investments L.P. raised its position in Rambus by 1.5% during the 2nd quarter. Pinebridge Investments L.P. now owns 14,720 shares of the semiconductor company’s stock worth $169,000 after purchasing an additional 219 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in Rambus by 0.9% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 31,410 shares of the semiconductor company’s stock worth $413,000 after purchasing an additional 290 shares during the last quarter. Arizona State Retirement System raised its position in Rambus by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 58,300 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 400 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in Rambus by 3.7% during the 2nd quarter. Amalgamated Bank now owns 15,208 shares of the semiconductor company’s stock worth $174,000 after acquiring an additional 549 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.
Rambus (NASDAQ:RMBS) opened at 13.38 on Friday. The firm has a 50-day moving average price of $12.87 and a 200 day moving average price of $12.59. The company has a market cap of $1.46 billion, a P/E ratio of 223.00 and a beta of 0.91. Rambus has a 12 month low of $11.30 and a 12 month high of $14.39.
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 consensus estimate of $0.13 by $0.01. Rambus had a return on equity of 9.28% and a net margin of 1.76%. The firm had revenue of $94.70 million during the quarter, compared to analysts’ expectations of $93.00 million. During the same period in the prior year, the company earned $0.15 earnings per share. The company’s quarterly revenue was up 23.8% on a year-over-year basis. On average, equities analysts expect that Rambus will post $0.65 earnings per share for the current year.
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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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