Rambus Inc. (RMBS) Trading 1.8% Higher
Shares of Rambus Inc. (NASDAQ:RMBS) traded up 1.8% during trading on Thursday . The stock traded as high as $14.01 and last traded at $13.96, with a volume of 199,709 shares. The stock had previously closed at $13.71.
Several analysts have commented on the stock. Zacks Investment Research raised shares of Rambus from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. Citigroup Inc. boosted their target price on shares of Rambus from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, July 20th. Wunderlich assumed coverage on shares of Rambus in a research report on Friday, June 3rd. They issued a “buy” rating and a $15.00 target price for the company. JPMorgan Chase & Co. reissued a “hold” rating and issued a $12.50 target price on shares of Rambus in a research report on Tuesday, July 5th. Finally, Jefferies Group reissued a “hold” rating and issued a $12.50 target price on shares of Rambus in a research report on Wednesday, July 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $13.88.
The company’s 50-day moving average is $13.36 and its 200-day moving average is $12.68. The company has a market capitalization of $1.53 billion and a PE ratio of 7.91.
Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, July 18th. The company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. During the same period last year, the firm earned $0.13 earnings per share. The company had revenue of $76.50 million for the quarter, compared to the consensus estimate of $74.44 million. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts predict that Rambus Inc. will post $0.60 earnings per share for the current year.
In other Rambus news, SVP Laura Stark sold 4,010 shares of Rambus stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $11.55, for a total transaction of $46,315.50. Following the completion of the transaction, the senior vice president now directly owns 172,619 shares of the company’s stock, valued at $1,993,749.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Satish Rishi sold 4,000 shares of Rambus stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $13.99, for a total transaction of $55,960.00. Following the transaction, the senior vice president now directly owns 247,838 shares of the company’s stock, valued at $3,467,253.62. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Rambus stock. Morgan Stanley raised its position in shares of Rambus Inc. (NASDAQ:RMBS) by 716.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,691,783 shares of the company’s stock after buying an additional 1,484,567 shares during the period. Morgan Stanley owned about 1.52% of Rambus worth $19,607,000 at the end of the most recent reporting period.
Rambus Inc produces semiconductor and Internet protocol (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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