Rambus Inc. (RMBS) Stock Price Down 1.3%
Rambus Inc. (NASDAQ:RMBS) fell 1.3% during trading on Friday . The company traded as low as $14.15 and last traded at $14.21, with a volume of 351,239 shares changing hands. The stock had previously closed at $14.40.
A number of brokerages have recently commented on RMBS. Zacks Investment Research upgraded shares of Rambus from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. Jefferies Group reiterated a “hold” rating and issued a $12.50 target price on shares of Rambus in a research report on Wednesday, July 6th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $12.50 target price on shares of Rambus in a research report on Tuesday, July 5th. Wunderlich initiated coverage on shares of Rambus in a research report on Friday, June 3rd. They set a “buy” rating and a $15.00 price objective for the company. Finally, Roth Capital initiated coverage on shares of Rambus in a research report on Wednesday. They set a “buy” rating and a $16.00 price objective for the company. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $14.11.
The company has a market capitalization of $1.58 billion and a price-to-earnings ratio of 8.17. The firm’s 50 day moving average price is $13.65 and its 200 day moving average price is $12.77.
Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, July 18th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. The company had revenue of $76.50 million for the quarter, compared to analysts’ expectations of $74.44 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Rambus’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Rambus Inc. will post $0.60 EPS for the current year.
In related news, SVP Laura Stark sold 4,010 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $12.41, for a total value of $49,764.10. Following the sale, the senior vice president now directly owns 172,619 shares in the company, valued at approximately $2,142,201.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Satish Rishi sold 2,000 shares of the business’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $13.49, for a total transaction of $26,980.00. Following the completion of the sale, the senior vice president now owns 251,838 shares in the company, valued at $3,397,294.62. 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).