Rambus Inc. (RMBS) Trading Up 1.8%
Rambus Inc. (NASDAQ:RMBS) shares were up 1.8% on Thursday . The stock traded as high as $14.01 and last traded at $13.96, with a volume of 199,709 shares changing hands. The stock had previously closed at $13.71.
Several research analysts have recently weighed in on RMBS shares. Zacks Investment Research cut shares of Rambus from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. Wunderlich started coverage on shares of Rambus in a report on Friday, June 3rd. They set a “buy” rating and a $15.00 price objective for the company. JPMorgan Chase & Co. reissued a “hold” rating and set a $12.50 price objective on shares of Rambus in a report on Tuesday, July 5th. Jefferies Group reissued a “hold” rating and set a $12.50 price objective on shares of Rambus in a report on Wednesday, July 6th. Finally, Citigroup Inc. boosted their price objective on shares of Rambus from $14.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Rambus has a consensus rating of “Buy” and a consensus price target of $13.88.
The stock has a market capitalization of $1.53 billion and a price-to-earnings ratio of 7.91. The firm has a 50-day moving average price of $13.42 and a 200-day moving average price of $12.70.
Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, July 18th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. During the same quarter in the prior year, the business posted $0.13 earnings per share. The firm earned $76.50 million during the quarter, compared to the consensus estimate of $74.44 million. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts anticipate that Rambus Inc. will post $0.60 EPS for the current year.
In other news, SVP Satish Rishi sold 2,000 shares of the firm’s 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 sale, the senior vice president now directly owns 251,838 shares in the company, valued at approximately $3,397,294.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction of $398,923.28. Following the completion of the sale, 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.
A hedge fund recently raised its stake in Rambus stock. California Public Employees Retirement System increased its position in Rambus Inc. (NASDAQ:RMBS) by 4.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 221,000 shares of the company’s stock after buying an additional 9,100 shares during the period. California Public Employees Retirement System owned 0.20% of Rambus worth $2,561,000 as of its most recent filing with the SEC.
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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