Rambus Inc. (RMBS) Trading 2.2% Higher
Rambus Inc. (NASDAQ:RMBS) shares traded up 2.2% on Wednesday . The company traded as high as $12.69 and last traded at $12.68, with a volume of 340,040 shares trading hands. The stock had previously closed at $12.41.
A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $12.50 price target on shares of Rambus in a research note on Tuesday, July 5th. Wunderlich assumed coverage on shares of Rambus in a research note on Friday, June 3rd. They issued a “buy” rating and a $15.00 price target on the stock. Zacks Investment Research lowered shares of Rambus from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Jefferies Group reaffirmed a “hold” rating on shares of Rambus in a research note on Monday, April 18th. Finally, Benchmark Co. raised their target price on shares of Rambus to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, April 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $13.71.
The stock has a market cap of $1.39 billion and a PE ratio of 7.17. The company’s 50 day moving average is $12.06 and its 200-day moving average is $12.27.
Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, April 18th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The company had revenue of $72.70 million for the quarter, compared to analyst estimates of $73.25 million. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 earnings per share. On average, equities research analysts forecast that Rambus Inc. will post $0.59 earnings per share for the current year.
In other Rambus news, SVP Laura Stark sold 5,284 shares of the company’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $11.21, for a total transaction of $59,233.64. Following the transaction, the senior vice president now directly owns 173,893 shares in the company, valued at $1,949,340.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Shrigley sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $12.20, for a total transaction of $61,000.00. Following the transaction, the director now owns 58,379 shares in the company, valued at $712,223.80. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently modified their holdings of RMBS. American Century Companies Inc. raised its position in shares of Rambus by 0.8% in the fourth quarter. American Century Companies Inc. now owns 164,839 shares of the company’s stock valued at $1,910,000 after buying an additional 1,250 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in Rambus by 12.7% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 143,161 shares of the company’s stock valued at $1,659,000 after buying an additional 16,183 shares in the last quarter. Principal Financial Group Inc. raised its stake in Rambus by 3,325.9% in the fourth quarter. Principal Financial Group Inc. now owns 791,001 shares of the company’s stock valued at $9,168,000 after buying an additional 767,912 shares in the last quarter. Comerica Bank acquired a new stake in Rambus during the fourth quarter valued at approximately $1,293,000. Finally, California State Teachers Retirement System raised its stake in Rambus by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 213,956 shares of the company’s stock valued at $2,480,000 after buying an additional 3,358 shares in the last quarter.
Rambus Inc is a technology solutions company. The Company’s technology portfolio addresses the evolving power, performance and security requirements of the mobile, cloud computing and connected device markets. It offers solutions in memory, chip interfaces and architectures, security and advanced light emitting diode (LED) lighting.
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