According to Zacks, “Rambus creates innovative hardware and software technologies, driving advancements from the data center to the mobile edge. Their chips, customizable IP cores, architecture licenses, tools, software, services, training and innovations improve the competitive advantage of their customers. They collaborate with the industry, partnering with leading ASIC and SoC designers, foundries, IP developers, EDA companies and validation labs. Their products are integrated into tens of billions of devices and systems, powering and securing diverse applications, including Big Data, Internet of Things (IoT), mobile payments, and smart ticketing. At Rambus, they are makers of better. “
RMBS has been the subject of a number of other reports. BidaskClub downgraded Rambus from a buy rating to a hold rating in a research report on Tuesday, May 21st. TheStreet raised Rambus from a d+ rating to a c- rating in a research report on Friday, April 12th. Wells Fargo & Co assumed coverage on Rambus in a research report on Tuesday, May 14th. They set an outperform rating and a $11.35 price target for the company. Finally, Deutsche Bank increased their price target on Rambus from $12.00 to $14.00 and gave the company a buy rating in a research report on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Rambus currently has a consensus rating of Buy and an average price target of $12.09.
Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, April 22nd. The semiconductor company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.36). The company had revenue of $100.20 million during the quarter, compared to analysts’ expectations of $99.00 million. Rambus had a positive return on equity of 5.11% and a negative net margin of 25.04%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. Equities analysts expect 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 that occurred on Thursday, May 2nd. The stock was sold at an average price of $11.40, for a total transaction of $30,483.60. Following the completion of the sale, the chief executive officer now directly owns 258,479 shares of the company’s stock, valued at $2,946,660.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc increased its position in shares of Rambus by 1,319.1% during the first quarter. Versant Capital Management Inc now owns 2,824 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 2,625 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Rambus by 31.4% in 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 last quarter. Marshall Wace LLP purchased a new stake in Rambus in the first quarter worth $46,000. Quantamental Technologies LLC purchased a new stake in Rambus in the first quarter worth $70,000. Finally, CWM Advisors LLC purchased a new stake in Rambus in the fourth quarter worth $77,000. 77.84% of the stock is owned by institutional investors.
Rambus Company Profile
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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