Rambus Inc. (RMBS) Receives “Positive” Rating from Benchmark Co.
RMBS has been the subject of a number of other research reports. Roth Capital initiated coverage on Rambus in a research report on Wednesday, August 31st. They issued a buy rating and a $16.00 target price for the company. JPMorgan Chase & Co. restated a hold rating and issued a $12.50 target price on shares of Rambus in a research report on Tuesday, July 5th. Jefferies Group restated a hold rating and issued a $12.50 target price on shares of Rambus in a research report on Wednesday, July 6th. Zacks Investment Research raised Rambus from a sell rating to a hold rating in a research note on Tuesday, August 2nd. Finally, Citigroup Inc. lifted their price target on Rambus from $14.00 to $15.00 and gave the stock a buy rating in a research note on Wednesday, July 20th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $14.11.
Rambus (NASDAQ:RMBS) traded up 1.81% during trading on Tuesday, hitting $12.65. The company’s stock had a trading volume of 91,246 shares. The firm has a market cap of $1.39 billion, a P/E ratio of 7.20 and a beta of 1.32. Rambus has a 12 month low of $9.86 and a 12 month high of $14.50. The firm has a 50 day moving average of $13.25 and a 200 day moving average of $12.75.
Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 18th. The company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. The company earned $76.50 million during the quarter, compared to the consensus estimate of $74.44 million. Rambus had a return on equity of 10.40% and a net margin of 66.99%. Rambus’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. Equities research analysts predict that Rambus will post $0.56 earnings per share for the current year.
In other Rambus news, SVP Satish Rishi sold 2,000 shares of the business’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $13.49, for a total value of $26,980.00. Following the sale, the senior vice president now directly owns 251,838 shares of the company’s stock, valued at $3,397,294.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Laura Stark sold 4,010 shares of the business’s stock in a transaction on Tuesday, September 6th. The stock was 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 directly owns 169,876 shares in the company, valued at $2,437,720.60. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its stake in Rambus by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 48,800 shares of the company’s stock valued at $590,000 after buying an additional 300 shares during the period. PineBridge Investments L.P. increased its position in shares of Rambus by 4.3% in the second quarter. PineBridge Investments L.P. now owns 13,960 shares of the company’s stock worth $168,000 after buying an additional 580 shares during the last quarter. Amalgamated Bank increased its position 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. Teacher Retirement System of Texas increased its position in shares of Rambus by 7.1% in the second quarter. Teacher Retirement System of Texas now owns 15,348 shares of the company’s stock worth $185,000 after buying an additional 1,021 shares during the last quarter. Finally, Arizona State Retirement System increased its position 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. 74.55% of the stock is currently 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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