Zacks Investment Research upgraded shares of Rambus Inc. (NASDAQ:RMBS) from a hold rating to a buy rating in a research note released on Wednesday. They currently have $15.00 price objective on the stock.

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. “

A number of other equities research analysts have also weighed in on RMBS. Roth Capital started coverage on shares of Rambus in a report on Wednesday, August 31st. They issued a buy rating and a $16.00 target price on the stock. Benchmark Co. restated a positive rating on shares of Rambus in a report on Tuesday, October 4th. Finally, Jefferies Group restated a hold rating and issued a $13.50 target price (up previously from $12.50) on shares of Rambus in a report on Tuesday, October 25th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Rambus currently has an average rating of Buy and a consensus target price of $14.50.

Analyst Recommendations for Rambus (NASDAQ:RMBS)

Shares of Rambus (NASDAQ:RMBS) remained flat at $13.61 during midday trading on Wednesday. 335,912 shares of the company traded hands. Rambus has a 1-year low of $10.66 and a 1-year high of $14.50. The stock has a 50-day moving average price of $12.39 and a 200-day moving average price of $12.62. The stock has a market cap of $1.50 billion, a P/E ratio of 67.04 and a beta of 1.07.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, October 24th. The company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.03. Rambus had a net margin of 7.36% and a return on equity of 10.40%. The company had revenue of $89.90 million for the quarter, compared to analyst estimates of $86.60 million. During the same quarter in the prior year, the business posted $0.14 EPS. The firm’s revenue was up 21.8% compared to the same quarter last year. On average, analysts forecast that Rambus will post $0.60 EPS for the current year.

In other news, Director David A. Shrigley sold 5,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 61,253 shares in the company, valued at approximately $735,648.53. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric B. Stang sold 13,618 shares of the firm’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $12.70, for a total transaction of $172,948.60. Following the sale, the director now owns 12,874 shares of the company’s stock, valued at approximately $163,499.80. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Rambus by 0.6% in the second quarter. Vanguard Group Inc. now owns 8,840,775 shares of the company’s stock valued at $106,797,000 after buying an additional 49,968 shares during the last quarter. BlackRock Fund Advisors increased its position in 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. Dimensional Fund Advisors LP increased its position in Rambus by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,845,877 shares of the company’s stock valued at $46,457,000 after buying an additional 304,699 shares during the period. Neuberger Berman Group LLC increased its position in Rambus by 0.4% in the third quarter. Neuberger Berman Group LLC now owns 3,637,454 shares of the company’s stock valued at $45,468,000 after buying an additional 14,151 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in Rambus by 1.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,812,956 shares of the company’s stock valued at $35,162,000 after buying an additional 31,946 shares during the period. Institutional investors own 75.22% of the company’s stock.

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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).

5 Day Chart for NASDAQ:RMBS

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