Rambus Inc. (RMBS) Hits New 1-Year High at $14.42
Shares of Rambus Inc. (NASDAQ:RMBS) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $14.42 and last traded at $14.29, with a volume of 1,411,863 shares traded. The stock had previously closed at $13.82.
Several analysts recently issued reports on RMBS shares. Zacks Investment Research lowered Rambus from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. Citigroup Inc. upped their target price on Rambus from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 20th. Roth Capital started coverage on Rambus in a report on Wednesday. They set a “buy” rating and a $16.00 target price on the stock. Wunderlich started coverage on Rambus in a report on Friday, June 3rd. They set a “buy” rating and a $15.00 target price on the stock. Finally, Jefferies Group reiterated a “hold” rating and set a $12.50 target price on shares of Rambus in a report on Wednesday, July 6th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $14.11.
The stock has a market cap of $1.59 billion and a P/E ratio of 8.2176. The firm has a 50-day moving average price of $13.55 and a 200 day moving average price of $12.75.
Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, July 18th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The firm earned $76.50 million during the quarter, compared to analyst estimates of $74.44 million. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 earnings per share. Equities research analysts expect that Rambus Inc. will post $0.60 EPS for the current year.
In other Rambus news, SVP Laura Stark sold 4,010 shares of Rambus stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $12.41, for a total transaction of $49,764.10. Following the completion of the transaction, the senior vice president now owns 172,619 shares in the company, valued at approximately $2,142,201.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Satish Rishi sold 2,000 shares of Rambus stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $13.49, for a total value of $26,980.00. Following the transaction, the senior vice president now owns 251,838 shares of the company’s stock, valued at approximately $3,397,294.62. The disclosure for this sale can be found here.
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).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.