Rambus, Inc. (RMBS) Director Sells $70,300.00 in Stock
Rambus, Inc. (NASDAQ:RMBS) Director David A. Shrigley sold 5,000 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $14.06, for a total value of $70,300.00. Following the transaction, the director now owns 53,045 shares in the company, valued at approximately $745,812.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Rambus, Inc. (NASDAQ RMBS) traded up 2.84% on Monday, hitting $14.47. The company’s stock had a trading volume of 1,717,000 shares. Rambus, Inc. has a 12 month low of $11.30 and a 12 month high of $14.50. The firm has a 50 day moving average of $13.57 and a 200 day moving average of $12.74. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 241.17 and a beta of 0.82.
Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, October 23rd. The semiconductor company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.02. The business had revenue of $99.10 million for the quarter, compared to analyst estimates of $99.00 million. Rambus had a net margin of 2.54% and a return on equity of 9.79%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $0.16 earnings per share. Equities research analysts forecast that Rambus, Inc. will post $0.69 earnings per share for the current fiscal year.
A number of research analysts have weighed in on the company. Citigroup Inc. upped their target price on Rambus from $15.30 to $15.90 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Zacks Investment Research upgraded Rambus from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Friday. Loop Capital reiterated a “buy” rating and set a $19.00 target price (up previously from $16.00) on shares of Rambus in a report on Tuesday, October 24th. TheStreet upgraded Rambus from a “c+” rating to a “b-” rating in a report on Friday, October 13th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $14.00 target price (up previously from $13.50) on shares of Rambus in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.98.
Large investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. increased its position in shares of Rambus by 9.2% during the second quarter. Ameritas Investment Partners Inc. now owns 9,734 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 822 shares during the period. Shelton Capital Management purchased a new position in shares of Rambus during the second quarter worth approximately $126,000. Trexquant Investment LP purchased a new position in shares of Rambus during the second quarter worth approximately $137,000. Petrus Trust Company LTA purchased a new position in shares of Rambus during the second quarter worth approximately $138,000. Finally, Hanson & Doremus Investment Management purchased a new position in shares of Rambus during the second quarter worth approximately $155,000. 76.39% 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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