Rambus Inc. (RMBS) Receives Average Rating of “Buy” from Brokerages
Rambus Inc. (NASDAQ:RMBS) has been given a consensus rating of “Buy” by the nine research firms that are covering the company. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $14.33.
A number of research firms recently weighed in on RMBS. Zacks Investment Research upgraded shares of Rambus from a “sell” rating to a “hold” rating in a research note on Tuesday, November 8th. Roth Capital began coverage on shares of Rambus in a research note on Wednesday, August 31st. They issued a “buy” rating and a $16.00 price objective for the company. Benchmark Co. reiterated a “positive” rating on shares of Rambus in a research note on Tuesday, October 4th. Finally, Jefferies Group reiterated a “hold” rating and issued a $13.50 price objective (up from $12.50) on shares of Rambus in a research note on Tuesday, October 25th.
In other news, Director David A. Shrigley sold 5,000 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $12.01, for a total transaction of $60,050.00. Following the completion of the transaction, the director now directly owns 61,253 shares in the company, valued at approximately $735,648.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric B. Stang sold 13,618 shares of the business’s stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $12.70, for a total transaction of $172,948.60. Following the transaction, the director now owns 12,874 shares of the company’s stock, valued at $163,499.80. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMBS. Price T Rowe Associates Inc. MD raised its position in shares of Rambus by 4,291.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 2,538,440 shares of the company’s stock valued at $31,731,000 after buying an additional 2,480,640 shares during the period. Morgan Stanley raised its position in shares of Rambus by 670.7% in the third quarter. Morgan Stanley now owns 731,417 shares of the company’s stock valued at $9,144,000 after buying an additional 636,517 shares during the period. BlackRock Fund Advisors raised its position in shares of Rambus by 8.0% in the third quarter. BlackRock Fund Advisors now owns 7,485,752 shares of the company’s stock valued at $93,572,000 after buying an additional 557,210 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of Rambus during the second quarter valued at about $4,979,000. Finally, Bank of Montreal Can bought a new position in shares of Rambus during the second quarter valued at about $4,881,000. Hedge funds and other institutional investors own 74.15% of the company’s stock.
Rambus (NASDAQ:RMBS) opened at 13.48 on Tuesday. The company’s 50-day moving average price is $12.27 and its 200 day moving average price is $12.56. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 66.40 and a beta of 1.07. Rambus has a 12 month low of $10.66 and a 12 month high of $14.50.
Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, October 24th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. Rambus had a net margin of 7.36% and a return on equity of 10.40%. The business earned $89.90 million during the quarter, compared to analyst estimates of $86.60 million. During the same period in the previous year, the business earned $0.14 EPS. Rambus’s revenue was up 21.8% compared to the same quarter last year. Analysts forecast that Rambus will post $0.60 EPS for the current fiscal year.
Rambus Company Profile
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).
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