Rambus Inc. (RMBS) Receives Average Rating of “Buy” from Brokerages
Shares of Rambus Inc. (NASDAQ:RMBS) have received an average rating of “Buy” from the ten analysts that are presently covering the company. Four investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $14.14.
Several brokerages have recently issued reports on RMBS. Benchmark Co. restated a “positive” rating on shares of Rambus in a research note on Tuesday, October 4th. Roth Capital initiated coverage on Rambus in a research report on Wednesday, August 31st. They set a “buy” rating and a $16.00 price target for the company. Zacks Investment Research upgraded Rambus from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. Citigroup Inc. lifted their price target on Rambus from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, July 20th. Finally, Jefferies Group reiterated a “hold” rating and set a $12.50 price target on shares of Rambus in a research report on Wednesday, July 6th.
Shares of Rambus (NASDAQ:RMBS) traded down 2.44% during mid-day trading on Tuesday, hitting $12.02. The stock had a trading volume of 180,419 shares. Rambus has a one year low of $9.86 and a one year high of $14.50. The stock has a market cap of $1.32 billion, a P/E ratio of 6.84 and a beta of 1.32. The firm has a 50 day moving average of $13.12 and a 200-day moving average of $12.72.
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 expect that Rambus will post $0.56 earnings per share for the current fiscal year.
In other news, Director Penny Herscher sold 6,809 shares of Rambus stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $12.43, for a total value of $84,635.87. Following the sale, the director now directly owns 12,874 shares of the company’s stock, valued at $160,023.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Satish Rishi sold 2,000 shares of Rambus stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 251,838 shares in the company, valued at $3,397,294.62. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Mason Street Advisors LLC purchased a new stake in shares of Rambus during the second quarter worth about $260,000. Schwab Charles Investment Management Inc. raised its stake in shares of Rambus by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 382,760 shares of the company’s stock worth $4,624,000 after buying an additional 6,666 shares in the last quarter. Amalgamated Bank raised its stake 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 in the last quarter. Arizona State Retirement System raised its stake 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 in the last quarter. Finally, AHL Partners LLP raised its stake in shares of Rambus by 12.3% in the second quarter. AHL Partners LLP now owns 125,854 shares of the company’s stock worth $1,520,000 after buying an additional 13,818 shares in the last quarter. 74.55% of the stock is currently owned by hedge funds and other institutional investors.
Rambus Company Profile
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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