Rambus Inc. (RMBS) Hits New 12-Month High at $14.42
Rambus Inc. (NASDAQ:RMBS) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $14.42 and last traded at $14.29, with a volume of 1,411,863 shares trading hands. The stock had previously closed at $13.82.
A number of research analysts have issued reports on the company. Zacks Investment Research cut Rambus from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Wunderlich began coverage on Rambus in a report on Friday, June 3rd. They set a “buy” rating and a $15.00 price target on the stock. Citigroup Inc. boosted their price target on Rambus from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 20th. Jefferies Group restated a “hold” rating and set a $12.50 price target on shares of Rambus in a report on Wednesday, July 6th. Finally, JPMorgan Chase & Co. restated a “hold” rating and set a $12.50 price target on shares of Rambus in a report on Tuesday, July 5th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $14.11.
The firm has a 50 day moving average price of $13.65 and a 200 day moving average price of $12.77. The firm has a market cap of $1.58 billion and a PE ratio of 8.17.
Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, July 18th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The business earned $76.50 million during the quarter, compared to analysts’ expectations of $74.44 million. Rambus’s revenue was up 5.1% on a year-over-year basis. Equities research analysts anticipate that Rambus Inc. will post $0.60 earnings per share for the current year.
In other news, CEO Ronald D. Black sold 29,528 shares of the business’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $13.51, for a total value of $398,923.28. Following the transaction, the chief executive officer now directly owns 359,241 shares in the company, valued at $4,853,345.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Laura Stark sold 4,010 shares of the business’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $12.41, for a total value of $49,764.10. Following the completion of the sale, the senior vice president now owns 172,619 shares in the company, valued at $2,142,201.79. 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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