Benchmark Co. Reaffirms “Positive” Rating for Rambus Inc. (RMBS)
Several other equities analysts have also commented on the company. JPMorgan Chase & Co. restated a hold rating and set a $12.50 price target on shares of Rambus in a research report on Tuesday, July 5th. Zacks Investment Research upgraded Rambus from a sell rating to a hold rating in a research report on Thursday, August 11th. Citigroup Inc. raised their price target on Rambus from $14.00 to $15.00 and gave the stock a buy rating in a research report on Wednesday, July 20th. Jefferies Group restated a hold rating and set a $12.50 price target on shares of Rambus in a research report on Wednesday, July 6th. Finally, Roth Capital began coverage on Rambus in a research report on Wednesday, August 31st. They set a buy rating and a $16.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Rambus has a consensus rating of Buy and a consensus target price of $14.11.
Shares of Rambus (NASDAQ:RMBS) opened at 12.42 on Tuesday. Rambus has a 12-month low of $9.86 and a 12-month high of $14.50. The company has a market cap of $1.36 billion, a P/E ratio of 7.06 and a beta of 1.32. The stock’s 50 day moving average price is $13.17 and its 200 day moving average price is $12.74.
Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, July 18th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. The firm had revenue of $76.50 million for the quarter, compared to analyst estimates of $74.44 million. Rambus had a return on equity of 10.40% and a net margin of 66.99%. The company’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 EPS. On average, analysts forecast that Rambus will post $0.56 EPS for the current year.
In other news, Director David A. Shrigley sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $13.79, for a total value of $68,950.00. Following the completion of the transaction, the director now owns 53,379 shares in the company, valued at approximately $736,096.41. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ronald D. Black sold 29,528 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $13.51, for a total value of $398,923.28. Following the completion of the transaction, the chief executive officer now owns 359,241 shares of the company’s stock, valued at approximately $4,853,345.91. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMBS. Princeton Alpha Management LP purchased a new position in Rambus during the second quarter worth approximately $130,000. Jefferies Group LLC purchased a new position in Rambus during the second quarter worth approximately $135,000. Advisors Capital Management LLC purchased a new position in Rambus during the second quarter worth approximately $137,000. Amalgamated Bank boosted its position in Rambus by 5.7% in the second quarter. Amalgamated Bank now owns 12,853 shares of the company’s stock worth $174,000 after buying an additional 697 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Rambus by 20.4% in the second quarter. Sei Investments Co. now owns 13,310 shares of the company’s stock worth $160,000 after buying an additional 2,255 shares during the last quarter. Institutional investors own 74.55% of the company’s stock.
Rambus Company Profile
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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