Zacks Investment Research upgraded shares of Rambus, Inc. (NASDAQ:RMBS) from a hold rating to a buy rating in a research note published on Saturday. They currently have $15.00 target price on the semiconductor company’s 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. “
Several other research firms have also recently commented on RMBS. TheStreet raised shares of Rambus from a c rating to a b- rating in a research note on Monday, April 24th. BidaskClub cut shares of Rambus from a sell rating to a strong sell rating in a research note on Tuesday, June 20th. Finally, Jefferies Group LLC reissued a hold rating and set a $13.50 target price on shares of Rambus in a research note on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Rambus presently has an average rating of Buy and a consensus price target of $15.10.
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Shares of Rambus (RMBS) opened at 12.89 on Friday. The company’s 50-day moving average is $12.27 and its 200-day moving average is $12.61. Rambus has a 12-month low of $11.30 and a 12-month high of $14.50. The stock has a market cap of $1.41 billion, a P/E ratio of 214.83 and a beta of 0.87.
Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, July 24th. The semiconductor company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. Rambus had a net margin of 1.76% and a return on equity of 9.28%. The business had revenue of $94.70 million for the quarter, compared to analysts’ expectations of $93 million. During the same quarter last year, the company earned $0.15 EPS. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, analysts expect that Rambus will post $0.65 earnings per share for the current fiscal year.
In other Rambus news, Director David A. Shrigley sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $12.98, for a total transaction of $64,900.00. Following the transaction, the director now owns 46,253 shares of the company’s stock, valued at approximately $600,363.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Laura Stark sold 3,644 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $12.06, for a total transaction of $43,946.64. Following the transaction, the senior vice president now directly owns 209,176 shares in the company, valued at approximately $2,522,662.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,830 shares of company stock worth $224,908. 2.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Rambus by 17,759.2% in the first quarter. BlackRock Inc. now owns 14,458,840 shares of the semiconductor company’s stock valued at $189,990,000 after buying an additional 14,377,880 shares during the last quarter. Vanguard Group Inc. raised its position in Rambus by 5.5% in the first quarter. Vanguard Group Inc. now owns 9,847,561 shares of the semiconductor company’s stock valued at $129,396,000 after buying an additional 513,316 shares during the period. Primecap Management Co. CA raised its position in Rambus by 10.1% in the first quarter. Primecap Management Co. CA now owns 9,589,497 shares of the semiconductor company’s stock valued at $126,006,000 after buying an additional 881,225 shares during the period. Dimensional Fund Advisors LP raised its position in Rambus by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 4,349,719 shares of the semiconductor company’s stock valued at $57,155,000 after buying an additional 216,124 shares during the period. Finally, Neuberger Berman Group LLC raised its position in Rambus by 1.3% in the first quarter. Neuberger Berman Group LLC now owns 3,625,211 shares of the semiconductor company’s stock valued at $47,635,000 after buying an additional 46,970 shares during the period. 78.58% of the stock is currently owned by hedge funds and other institutional investors.
Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.
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