Rambus (RMBS) Now Covered by Analysts at Wells Fargo & Co

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Wells Fargo & Co started coverage on shares of Rambus (NASDAQ:RMBS) in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage issued an outperform rating and a $11.35 price objective on the semiconductor company’s stock.

Several other research analysts have also recently issued reports on the stock. ValuEngine raised shares of Rambus from a sell rating to a hold rating in a report on Monday, February 4th. BidaskClub raised shares of Rambus from a strong sell rating to a sell rating in a report on Friday, February 8th. Deutsche Bank increased their price target on shares of Rambus from $12.00 to $14.00 and gave the stock a buy rating in a report on Tuesday, April 23rd. Zacks Investment Research cut shares of Rambus from a buy rating to a hold rating in a report on Wednesday, April 3rd. Finally, TheStreet raised shares of Rambus from a d+ rating to a c- rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $12.87.

Shares of NASDAQ:RMBS traded down $0.19 on Tuesday, reaching $11.41. The company’s stock had a trading volume of 16,128 shares, compared to its average volume of 718,607. Rambus has a 52-week low of $7.17 and a 52-week high of $13.88. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.75 and a current ratio of 7.87. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.59 and a beta of 0.82.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, April 22nd. The semiconductor company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.36). Rambus had a negative net margin of 25.04% and a positive return on equity of 5.11%. The business had revenue of $100.20 million during the quarter, compared to analysts’ expectations of $99.00 million. During the same period in the previous year, the company posted $0.21 earnings per share. Rambus’s quarterly revenue was down .3% on a year-over-year basis. As a group, research analysts forecast that Rambus will post 0.73 EPS for the current fiscal year.

In related news, CEO Luc Seraphin sold 2,674 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $11.40, for a total transaction of $30,483.60. Following the completion of the transaction, the chief executive officer now directly owns 258,479 shares of the company’s stock, valued at $2,946,660.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Shrigley sold 20,000 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $10.45, for a total transaction of $209,000.00. Following the transaction, the director now directly owns 42,155 shares of the company’s stock, valued at $440,519.75. The disclosure for this sale can be found here. Insiders have sold 62,999 shares of company stock valued at $653,143 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc grew its position in Rambus by 1,319.1% during the first quarter. Versant Capital Management Inc now owns 2,824 shares of the semiconductor company’s stock worth $29,000 after buying an additional 2,625 shares during the period. PNC Financial Services Group Inc. grew its position in Rambus by 31.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,640 shares of the semiconductor company’s stock worth $38,000 after buying an additional 869 shares during the period. Marshall Wace LLP acquired a new position in Rambus during the first quarter worth about $46,000. Quantamental Technologies LLC acquired a new position in Rambus during the first quarter worth about $70,000. Finally, ETF Managers Group LLC grew its position in Rambus by 15.8% during the fourth quarter. ETF Managers Group LLC now owns 9,709 shares of the semiconductor company’s stock worth $74,000 after buying an additional 1,323 shares during the period. Institutional investors own 77.49% of the company’s stock.

About Rambus

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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