Rambus Inc. (RMBS) Shares Down 1.3%
Rambus Inc. (NASDAQ:RMBS) shares traded down 1.3% during trading on Friday . The company traded as low as $14.15 and last traded at $14.21, with a volume of 351,239 shares trading hands. The stock had previously closed at $14.40.
A number of research analysts recently commented on the company. Zacks Investment Research raised Rambus from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Jefferies Group reissued a “hold” rating and issued a $12.50 price target on shares of Rambus in a report on Wednesday, July 6th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $12.50 price target on shares of Rambus in a report on Tuesday, July 5th. Wunderlich assumed coverage on Rambus in a report on Friday, June 3rd. They issued a “buy” rating and a $15.00 price target for the company. Finally, Roth Capital assumed coverage on Rambus in a report on Wednesday. They issued a “buy” rating and a $16.00 price target for the company. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $14.11.
The company has a 50-day moving average price of $13.65 and a 200-day moving average price of $12.77. The stock has a market cap of $1.58 billion and a P/E ratio of 8.17.
Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, July 18th. The company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The company had revenue of $76.50 million for the quarter, compared to the consensus estimate of $74.44 million. During the same quarter last year, the business earned $0.13 earnings per share. Rambus’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts expect that Rambus Inc. will post $0.60 earnings per share for the current year.
In other Rambus news, SVP Satish Rishi sold 4,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $3,467,253.62. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ronald D. Black sold 29,528 shares of the firm’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $13.51, for a total value of $398,923.28. Following the transaction, the chief executive officer now owns 359,241 shares in the company, valued at $4,853,345.91. 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).
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