Penny Herscher Sells 6,809 Shares of Rambus Inc. (RMBS) Stock
Rambus Inc. (NASDAQ:RMBS) Director Penny Herscher sold 6,809 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $12.43, for a total transaction of $84,635.87. Following the sale, the director now directly owns 12,874 shares of the company’s stock, valued at approximately $160,023.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Rambus Inc. (NASDAQ:RMBS) opened at 12.51 on Friday. Rambus Inc. has a one year low of $9.86 and a one year high of $14.50. The stock has a market capitalization of $1.37 billion, a PE ratio of 7.12 and a beta of 1.32. The stock’s 50 day moving average price is $13.20 and its 200 day moving average price is $12.75.
Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, July 18th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. Rambus had a return on equity of 10.40% and a net margin of 66.99%. The firm earned $76.50 million during the quarter, compared to analysts’ expectations of $74.44 million. During the same period last year, the business posted $0.13 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts predict that Rambus Inc. will post $0.56 EPS for the current fiscal year.
A number of research analysts recently issued reports on the company. Citigroup Inc. boosted their price objective on Rambus from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, July 20th. Roth Capital assumed coverage on Rambus in a research note on Wednesday, August 31st. They set a “buy” rating and a $16.00 price objective for the company. Zacks Investment Research upgraded Rambus from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th. Jefferies Group reiterated a “hold” rating and set a $12.50 price objective on shares of Rambus in a research note on Wednesday, July 6th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and set a $12.50 price objective on shares of Rambus in a research note on Tuesday, July 5th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Rambus has a consensus rating of “Buy” and a consensus price target of $14.11.
Several hedge funds and other institutional investors have recently made changes to their positions in RMBS. Princeton Alpha Management LP purchased a new position in shares of Rambus during the second quarter valued at about $130,000. Jefferies Group LLC bought a new position in shares of Rambus during the second quarter valued at $135,000. Advisors Capital Management LLC bought a new position in shares of Rambus during the second quarter valued at $137,000. Sei Investments Co. boosted its position in shares of Rambus by 20.4% in the second quarter. Sei Investments Co. now owns 13,310 shares of the company’s stock valued at $160,000 after buying an additional 2,255 shares in the last quarter. Finally, PineBridge Investments L.P. boosted 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 valued at $168,000 after buying an additional 580 shares in the last quarter. Hedge funds and other institutional investors own 74.55% of the company’s stock.
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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