Penny Herscher Sells 30,000 Shares of Rambus Inc. (RMBS) Stock
Rambus Inc. (NASDAQ:RMBS) Director Penny Herscher sold 30,000 shares of the business’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $13.56, for a total value of $406,800.00. Following the completion of the transaction, the director now owns 12,874 shares in the company, valued at approximately $174,571.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Penny Herscher also recently made the following trade(s):
- On Monday, October 3rd, Penny Herscher sold 6,809 shares of Rambus stock. The stock was sold at an average price of $12.43, for a total value of $84,635.87.
Shares of Rambus Inc. (NASDAQ:RMBS) opened at 13.40 on Wednesday. The firm has a market capitalization of $1.48 billion, a PE ratio of 66.01 and a beta of 1.07. The stock’s 50 day moving average price is $12.45 and its 200-day moving average price is $12.67. Rambus Inc. has a 12 month low of $10.66 and a 12 month high of $14.50.
Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, October 24th. The company reported $0.16 earnings per share (EPS) 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 company earned $89.90 million during the quarter, compared to analysts’ expectations of $86.60 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. Rambus’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, equities analysts anticipate that Rambus Inc. will post $0.60 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its position in Rambus by 113.8% in the third quarter. Victory Capital Management Inc. now owns 8,377 shares of the company’s stock worth $105,000 after buying an additional 4,459 shares during the period. Princeton Alpha Management LP purchased a new position in Rambus during the second quarter worth about $130,000. Palo Capital Inc. purchased a new position in Rambus during the third quarter worth about $130,000. Campbell & CO Investment Adviser LLC purchased a new position in Rambus during the third quarter worth about $131,000. Finally, Jefferies Group LLC purchased a new position in Rambus during the second quarter worth about $135,000. Institutional investors own 78.59% of the company’s stock.
Several research analysts recently commented on the company. Zacks Investment Research upgraded Rambus from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Jefferies Group restated a “hold” rating and set a $13.50 price objective (up previously from $12.50) on shares of Rambus in a research note on Tuesday, October 25th. Benchmark Co. restated a “positive” rating on shares of Rambus in a research note on Tuesday, October 4th. Finally, Roth Capital initiated coverage on Rambus in a research note on Wednesday, August 31st. They set a “buy” rating and a $16.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $14.50.
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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