Rambus Inc. (NASDAQ:RMBS) – Research analysts at Jefferies Financial Group decreased their Q1 2020 earnings estimates for Rambus in a research report issued on Tuesday, November 5th. Jefferies Financial Group analyst M. Lipacis now forecasts that the semiconductor company will post earnings of $0.16 per share for the quarter, down from their prior forecast of $0.18. Jefferies Financial Group also issued estimates for Rambus’ Q3 2020 earnings at $0.20 EPS, Q4 2020 earnings at $0.21 EPS and FY2020 earnings at $0.75 EPS.
Several other research firms have also issued reports on RMBS. Wells Fargo & Co increased their price target on shares of Rambus from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. ValuEngine lowered shares of Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Citigroup raised their price objective on shares of Rambus from $13.10 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, BidaskClub raised shares of Rambus from a “hold” rating to a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Rambus currently has a consensus rating of “Buy” and a consensus price target of $13.75.
NASDAQ:RMBS traded down $0.17 during mid-day trading on Friday, hitting $13.91. The company’s stock had a trading volume of 341,900 shares, compared to its average volume of 787,147. Rambus has a fifty-two week low of $7.17 and a fifty-two week high of $14.83. The company has a current ratio of 7.43, a quick ratio of 7.48 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 1.95 and a beta of 0.71. The stock has a fifty day moving average of $13.43 and a 200-day moving average of $12.36.
Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.39). Rambus had a negative return on equity of 0.30% and a negative net margin of 20.91%. The business had revenue of $57.40 million during the quarter, compared to analyst estimates of $89.00 million. During the same period last year, the company earned $0.22 EPS. The business’s revenue for the quarter was down 3.9% on a year-over-year basis.
In other news, CEO Luc Seraphin sold 29,855 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $13.99, for a total transaction of $417,671.45. Following the completion of the sale, the chief executive officer now owns 231,097 shares of the company’s stock, valued at $3,233,047.03. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jae Kim sold 2,297 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $13.00, for a total transaction of $29,861.00. Following the sale, the senior vice president now directly owns 134,025 shares in the company, valued at $1,742,325. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,183 shares of company stock valued at $846,644. Company insiders own 1.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Elkfork Partners LLC grew its stake in shares of Rambus by 5.0% during the second quarter. Elkfork Partners LLC now owns 19,470 shares of the semiconductor company’s stock valued at $234,000 after purchasing an additional 924 shares during the last quarter. Texas Permanent School Fund grew its stake in shares of Rambus by 1.3% during the third quarter. Texas Permanent School Fund now owns 75,637 shares of the semiconductor company’s stock valued at $993,000 after purchasing an additional 962 shares during the last quarter. Mason Street Advisors LLC grew its stake in shares of Rambus by 2.7% during the third quarter. Mason Street Advisors LLC now owns 37,734 shares of the semiconductor company’s stock valued at $495,000 after purchasing an additional 1,006 shares during the last quarter. Quantamental Technologies LLC grew its stake in shares of Rambus by 15.9% during the second quarter. Quantamental Technologies LLC now owns 7,768 shares of the semiconductor company’s stock valued at $94,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Meadow Creek Investment Management LLC grew its stake in shares of Rambus by 5.0% during the second quarter. Meadow Creek Investment Management LLC now owns 24,780 shares of the semiconductor company’s stock valued at $298,000 after purchasing an additional 1,176 shares during the last quarter. 78.91% of the stock is currently owned by institutional investors and hedge funds.
Rambus Inc provides semiconductor products in the United States, Japan, Europe, Taiwan, China, South Korea, Canada, Singapore, Asia, and internationally. The company operates through three divisions: Memory and Interfaces, Rambus Security, and Emerging Solutions. The Memory and Interfaces division engages in the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces.
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