Shares of Rambus Inc. (NASDAQ:RMBS) have received an average rating of “Buy” from the ten ratings firms that are currently covering the company. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $14.14.
Several equities research analysts recently weighed in on RMBS shares. Citigroup Inc. increased their target price on shares of Rambus from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, July 20th. Roth Capital initiated coverage on shares of Rambus in a research note on Wednesday, August 31st. They set a “buy” rating and a $16.00 price target for the company. Zacks Investment Research upgraded shares of Rambus from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th. Jefferies Group restated a “hold” rating and set a $12.50 price target on shares of Rambus in a research note on Wednesday, July 6th. Finally, JPMorgan Chase & Co. restated a “hold” rating and set a $12.50 price target on shares of Rambus in a research note on Tuesday, July 5th.
Rambus (NASDAQ:RMBS) opened at 11.73 on Tuesday. The company has a 50-day moving average price of $12.89 and a 200-day moving average price of $12.69. Rambus has a one year low of $9.86 and a one year high of $14.50. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 6.67 and a beta of 1.32.
Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 18th. The company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. Rambus had a net margin of 66.99% and a return on equity of 10.40%. The business earned $76.50 million during the quarter, compared to analysts’ expectations of $74.44 million. During the same quarter last year, the company earned $0.13 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. Equities research analysts anticipate that Rambus will post $0.56 EPS for the current year.
In related news, SVP Laura Stark sold 4,010 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $14.35, for a total value of $57,543.50. Following the completion of the sale, the senior vice president now owns 169,876 shares of the company’s stock, valued at $2,437,720.60. The sale was disclosed in a document filed with the SEC, which is accessible 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 shares were sold at an average price of $13.49, for a total transaction of $26,980.00. Following the completion of the sale, the senior vice president now directly owns 251,838 shares of the company’s stock, valued at approximately $3,397,294.62. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Emerald Acquisition Ltd. bought a new stake in shares of Rambus during the second quarter worth $4,979,000. Bank of Montreal Can bought a new stake in shares of Rambus during the second quarter worth $4,881,000. Panagora Asset Management Inc. raised its stake in shares of Rambus by 12,970.1% in the second quarter. Panagora Asset Management Inc. now owns 326,753 shares of the company’s stock worth $3,947,000 after buying an additional 324,253 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Rambus by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,845,877 shares of the company’s stock worth $46,457,000 after buying an additional 304,699 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Rambus by 73.5% in the first quarter. BlackRock Group LTD now owns 257,490 shares of the company’s stock worth $3,541,000 after buying an additional 109,067 shares in the last quarter. 74.55% of the stock is owned by institutional investors and hedge funds.
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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