Rambus Inc. (NASDAQ:RMBS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Rambus, Inc. designs, develops, licenses and markets high-speed chip-to-chip interface technology to enhance the performance and cost-effectiveness of computers, consumer electronics and other electronic systems. The company licenses semiconductor companies to manufacture and sell memory and logic integrated circuits incorporating Rambus interface technology and markets its solution to systems companies to encourage them to design Rambus interface technology into their products. “
Several other equities analysts also recently issued reports on the stock. Jefferies Group reaffirmed a “hold” rating and set a $13.50 price target (up previously from $12.50) on shares of Rambus in a research note on Tuesday, October 25th. Benchmark Co. reaffirmed a “positive” rating on shares of Rambus in a research note on Tuesday, October 4th. Roth Capital began 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. Finally, Citigroup Inc. raised their price target 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. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $14.50.
Rambus (NASDAQ:RMBS) traded up 0.73% during midday trading on Tuesday, reaching $13.71. 183,259 shares of the company traded hands. Rambus has a 12-month low of $10.66 and a 12-month high of $14.50. The stock has a market capitalization of $1.51 billion, a P/E ratio of 67.54 and a beta of 1.07. The company has a 50 day moving average of $12.41 and a 200-day moving average of $12.64.
Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, October 24th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.03. The firm earned $89.90 million during the quarter, compared to the consensus estimate of $86.60 million. Rambus had a net margin of 7.36% and a return on equity of 10.40%. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 earnings per share. Equities analysts anticipate that Rambus will post $0.60 EPS for the current fiscal year.
In other Rambus news, Director Penny Herscher sold 6,809 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $12.43, for a total value of $84,635.87. Following the completion of the sale, the director now directly owns 12,874 shares in the company, valued at $160,023.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Laura Stark sold 4,010 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $14.35, for a total transaction 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 disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of RMBS. Aperio Group LLC boosted its stake in Rambus by 8.3% in the first quarter. Aperio Group LLC now owns 22,621 shares of the company’s stock worth $311,000 after buying an additional 1,738 shares during the last quarter. BlackRock Inc. boosted its stake in Rambus by 1,078.1% in the first quarter. BlackRock Inc. now owns 61,639 shares of the company’s stock worth $848,000 after buying an additional 56,407 shares during the last quarter. BlackRock Group LTD boosted its stake in 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 during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Rambus by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,843,177 shares of the company’s stock worth $39,094,000 after buying an additional 20,178 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in Rambus during the first quarter worth approximately $370,000. Institutional investors and hedge funds own 75.22% of the company’s stock.
Rambus Inc produces semiconductor and intellectual property (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).