Rambus Inc. (RMBS) Trading 1.8% Higher
Shares of Rambus Inc. (NASDAQ:RMBS) traded up 1.8% on Friday . The company traded as high as $13.87 and last traded at $13.80, with a volume of 356,634 shares traded. The stock had previously closed at $13.56.
A number of analysts have recently weighed in on the company. Zacks Investment Research raised Rambus from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. Citigroup Inc. increased their target price on Rambus from $14.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, July 20th. Wunderlich began coverage on Rambus in a report on Friday, June 3rd. They issued a “buy” rating and a $15.00 target price on the stock. JPMorgan Chase & Co. reissued a “hold” rating and issued a $12.50 target price on shares of Rambus in a 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 report on Wednesday, July 6th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $13.88.
The company has a market capitalization of $1.52 billion and a P/E ratio of 7.87. The stock’s 50-day moving average is $13.12 and its 200-day moving average is $12.62.
Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, July 18th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.02. The company earned $76.50 million during the quarter, compared to analyst estimates of $74.44 million. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 EPS. Analysts forecast that Rambus Inc. will post $0.60 EPS for the current fiscal year.
In related news, SVP Laura Stark sold 4,010 shares of Rambus stock in a transaction on Monday, June 6th. The shares were sold at an average price of $12.41, for a total transaction of $49,764.10. Following 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 accessible through this hyperlink. Also, CEO Ronald D. Black sold 29,528 shares of Rambus stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $13.51, for a total transaction of $398,923.28. Following the transaction, the chief executive officer now owns 359,241 shares in the company, valued at approximately $4,853,345.91. The disclosure for this sale can be found here.
Several institutional investors have bought and sold shares of RMBS. Morgan Stanley raised its position in Rambus by 716.4% in the fourth quarter. Morgan Stanley now owns 1,691,783 shares of the company’s stock valued at $19,607,000 after buying an additional 1,484,567 shares during the last quarter. Comerica Bank acquired a new position in Rambus during the fourth quarter valued at $1,293,000. Rhumbline Advisers raised its position in Rambus by 27.7% in the fourth quarter. Rhumbline Advisers now owns 143,701 shares of the company’s stock valued at $1,665,000 after buying an additional 31,200 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in Rambus by 4.3% in the fourth quarter. California Public Employees Retirement System now owns 221,000 shares of the company’s stock valued at $2,561,000 after buying an additional 9,100 shares during the last quarter.
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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