Rambus (RMBS) Cut to Strong Sell at BidaskClub

Rambus (NASDAQ:RMBS) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday.

A number of other equities research analysts have also weighed in on RMBS. TheStreet upgraded shares of Rambus from a “c+” rating to a “b-” rating in a report on Friday, October 13th. Zacks Investment Research upgraded shares of Rambus from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Friday, October 27th. Citigroup boosted their price objective on shares of Rambus from $15.30 to $15.90 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, Loop Capital restated a “buy” rating and issued a $19.00 price objective (up from $16.00) on shares of Rambus in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $16.32.

Shares of Rambus (NASDAQ:RMBS) traded up $0.18 during trading on Wednesday, reaching $14.18. 499,089 shares of the company’s stock traded hands, compared to its average volume of 847,080. Rambus has a twelve month low of $11.30 and a twelve month high of $15.50. The company has a market capitalization of $1,560.00, a price-to-earnings ratio of 157.56, a PEG ratio of 2.50 and a beta of 0.74. The company has a current ratio of 1.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, October 23rd. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. Rambus had a net margin of 2.54% and a return on equity of 9.79%. The business had revenue of $99.10 million during the quarter, compared to analyst estimates of $99.00 million. During the same period in the previous year, the business posted $0.16 earnings per share. Rambus’s revenue for the quarter was up 10.2% on a year-over-year basis. analysts anticipate that Rambus will post 0.52 EPS for the current year.

In related news, Director David A. Shrigley sold 5,000 shares of Rambus stock in a transaction on 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 directly owns 53,045 shares of the company’s stock, valued at $745,812.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Laura Stark sold 2,937 shares of Rambus stock in a transaction on Friday, November 10th. The stock was sold at an average price of $14.48, for a total transaction of $42,527.76. Following the completion of the transaction, the senior vice president now directly owns 205,966 shares in the company, valued at $2,982,387.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,990 shares of company stock worth $506,930. 2.00% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of RMBS. Ameritas Investment Partners Inc. increased its stake in shares of Rambus by 9.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,734 shares of the semiconductor company’s stock worth $111,000 after buying an additional 822 shares during the period. Zions Bancorporation purchased a new position in shares of Rambus in the third quarter worth $122,000. Shelton Capital Management purchased a new position in shares of Rambus in the second quarter worth $126,000. Petrus Trust Company LTA purchased a new position in shares of Rambus in the second quarter worth $138,000. Finally, Magnetar Financial LLC purchased a new position in shares of Rambus in the third quarter worth $145,000. 78.24% of the stock is currently owned by institutional investors.

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About Rambus

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.

Analyst Recommendations for Rambus (NASDAQ:RMBS)

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