Rambus Inc. (NASDAQ:RMBS)‘s stock had its “positive” rating reissued by Benchmark Co. in a research note issued to investors on Tuesday.
RMBS has been the subject of a number of other reports. JPMorgan Chase & Co. reissued a “hold” rating and set a $12.50 price target on shares of Rambus in a research report on Tuesday, July 5th. Zacks Investment Research raised shares of Rambus from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. Citigroup Inc. raised their price target on shares of Rambus from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, July 20th. Jefferies Group reissued a “hold” rating and set a $12.50 price target on shares of Rambus in a research report on Wednesday, July 6th. Finally, Roth Capital started coverage on shares of Rambus in a research report on Wednesday, August 31st. They set a “buy” rating and a $16.00 price target for the company. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $14.11.
Rambus (NASDAQ:RMBS) opened at 12.61 on Tuesday. Rambus has a 12 month low of $9.86 and a 12 month high of $14.50. The stock has a market capitalization of $1.39 billion, a PE ratio of 7.17 and a beta of 1.32. The company’s 50-day moving average is $13.23 and its 200-day moving average is $12.75.
Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, July 18th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The firm earned $76.50 million during the quarter, compared to analyst estimates of $74.44 million. Rambus had a net margin of 66.99% and a return on equity of 10.40%. Rambus’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $0.13 EPS. Equities research analysts forecast that Rambus will post $0.56 EPS for the current year.
In other news, Director Penny Herscher sold 6,809 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $12.43, for a total transaction of $84,635.87. Following the sale, the director now owns 12,874 shares of the company’s stock, valued at approximately $160,023.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Satish Rishi sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $13.49, for a total transaction of $26,980.00. Following the sale, the senior vice president now directly owns 251,838 shares in the company, valued at approximately $3,397,294.62. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Several large investors have recently modified their holdings of the company. Mason Street Advisors LLC purchased a new stake in shares of Rambus during the second quarter worth approximately $260,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Rambus by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 382,760 shares of the company’s stock worth $4,624,000 after buying an additional 6,666 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Rambus by 5.7% in the second quarter. Amalgamated Bank now owns 12,853 shares of the company’s stock worth $174,000 after buying an additional 697 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Rambus by 2.0% in the second quarter. Arizona State Retirement System now owns 57,200 shares of the company’s stock worth $691,000 after buying an additional 1,100 shares during the last quarter. Finally, AHL Partners LLP boosted its stake in shares of Rambus by 12.3% in the second quarter. AHL Partners LLP now owns 125,854 shares of the company’s stock worth $1,520,000 after buying an additional 13,818 shares during the last quarter. 74.55% of the stock is currently owned by institutional investors and hedge funds.
Rambus Company Profile
Rambus Inc produces semiconductor and Internet protocol (IP) products, spanning memory and interfaces to security, sensors and lighting. The Company’s products are integrated into devices and systems, powering and securing diverse applications, including big data and media platforms. Its segments include Memory and Interfaces Division (MID) and Cryptography Research Division (CRD).
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