Rambus Inc. (RMBS) Rating Lowered to Sell at Zacks Investment Research
Rambus Inc. (NASDAQ:RMBS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “Rambus, Inc. designs, develops, licenses and markets high-speed chip-to-chip interface technology to enhance the performance and cost-effectiveness of computers, consumer electronics and other electronic systems. The company licenses semiconductor companies to manufacture and sell memory and logic integrated circuits incorporating Rambus interface technology and markets its solution to systems companies to encourage them to design Rambus interface technology into their products. “
Other analysts also recently issued research reports about the stock. Citigroup Inc. raised their price target 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. JPMorgan Chase & Co. reissued a “hold” rating and set a $12.50 price target on shares of Rambus in a research report on Tuesday, July 5th. Jefferies Group reissued a “hold” rating and set a $12.50 price target on shares of Rambus in a research report on Wednesday, July 6th. Benchmark Co. reissued a “positive” rating on shares of Rambus in a research report on Tuesday, October 4th. Finally, Roth Capital began coverage on shares of Rambus in a research report on Wednesday, August 31st. They set a “buy” rating and a $16.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $14.11.
Rambus (NASDAQ:RMBS) opened at 11.77 on Wednesday. The firm has a market capitalization of $1.29 billion, a PE ratio of 6.70 and a beta of 1.32. The firm has a 50-day moving average of $12.96 and a 200 day moving average of $12.70. Rambus has a 52 week low of $9.86 and a 52 week high of $14.50.
Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, July 18th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. Rambus had a net margin of 66.99% and a return on equity of 10.40%. The company earned $76.50 million during the quarter, compared to the consensus estimate of $74.44 million. During the same quarter last year, the company earned $0.13 earnings per share. Rambus’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts predict that Rambus will post $0.56 earnings per share for the current year.
In other Rambus news, SVP Laura Stark sold 4,010 shares of the firm’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $12.51, for a total value of $50,165.10. Following the sale, the senior vice president now directly owns 169,876 shares in the company, valued at $2,125,148.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Penny Herscher sold 6,809 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $12.43, for a total value of $84,635.87. Following the completion of the sale, the director now owns 12,874 shares in the company, valued at $160,023.82. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of RMBS. Aperio Group LLC boosted its stake in Rambus by 8.3% in the first quarter. Aperio Group LLC now owns 22,621 shares of the company’s stock worth $311,000 after buying an additional 1,738 shares during the last quarter. Pacad Investment Ltd. boosted its stake in Rambus by 23.4% in the first quarter. Pacad Investment Ltd. now owns 24,302 shares of the company’s stock worth $334,000 after buying an additional 4,602 shares during the last quarter. BlackRock Inc. boosted its stake in Rambus by 1,078.1% in the first quarter. BlackRock Inc. now owns 61,639 shares of the company’s stock worth $848,000 after buying an additional 56,407 shares during the last quarter. BlackRock Group LTD boosted its stake in Rambus by 73.5% in the first quarter. BlackRock Group LTD now owns 257,490 shares of the company’s stock worth $3,541,000 after buying an additional 109,067 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Rambus by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,843,177 shares of the company’s stock worth $39,094,000 after buying an additional 20,178 shares during the last quarter. Institutional investors own 74.55% of the company’s stock.
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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