Rambus (RMBS) Upgraded to Buy at ValuEngine

Rambus (NASDAQ:RMBS) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

RMBS has been the subject of several other reports. Citigroup lifted their target price on shares of Rambus from $15.30 to $15.90 and gave the company a “buy” rating in a research report on Wednesday, October 25th. BidaskClub downgraded Rambus from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Zacks Investment Research downgraded Rambus from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Loop Capital restated a “buy” rating and set a $19.00 price target (up previously from $16.00) on shares of Rambus in a research note on Tuesday, October 24th. Finally, TheStreet upgraded Rambus from a “c+” rating to a “b-” rating in a research note on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.32.

Rambus (NASDAQ RMBS) traded down $0.12 during midday trading on Friday, reaching $12.72. 888,332 shares of the company’s stock were exchanged, compared to its average volume of 889,942. The company has a quick ratio of 1.34, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The company has a market cap of $1,396.38, a P/E ratio of -74.82, a P/E/G ratio of 1.94 and a beta of 0.52. Rambus has a 52-week low of $11.30 and a 52-week high of $15.50.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, January 29th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.19. The firm had revenue of $101.89 million during the quarter, compared to the consensus estimate of $101.25 million. Rambus had a negative net margin of 4.70% and a positive return on equity of 9.56%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS. research analysts forecast that Rambus will post 0.66 earnings per share for the current fiscal year.

In other Rambus news, SVP Jae Kim sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $14.90, for a total value of $104,300.00. Following the completion of the sale, the senior vice president now owns 99,580 shares of the company’s stock, valued at $1,483,742. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Laura Stark sold 2,937 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $14.48, for a total value of $42,527.76. Following the completion of the sale, the senior vice president now directly owns 205,966 shares of the company’s stock, valued at approximately $2,982,387.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,990 shares of company stock worth $507,530. Insiders own 2.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Commerzbank Aktiengesellschaft FI increased its position in shares of Rambus by 30.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 63,731 shares of the semiconductor company’s stock valued at $906,000 after buying an additional 14,901 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Rambus by 773.1% during the fourth quarter. SG Americas Securities LLC now owns 205,953 shares of the semiconductor company’s stock worth $2,929,000 after purchasing an additional 182,365 shares in the last quarter. TRUE Private Wealth Advisors purchased a new stake in shares of Rambus during the fourth quarter worth approximately $1,131,000. Schwab Charles Investment Management Inc. increased its position in shares of Rambus by 14.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 613,535 shares of the semiconductor company’s stock worth $8,725,000 after purchasing an additional 76,962 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Rambus by 25.8% during the fourth quarter. Bank of Montreal Can now owns 469,703 shares of the semiconductor company’s stock worth $6,679,000 after purchasing an additional 96,317 shares in the last quarter. 78.35% of the stock is owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Rambus (NASDAQ:RMBS)

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