Rambus, Inc. (RMBS) Receives $15.98 Average PT from Analysts
Shares of Rambus, Inc. (NASDAQ:RMBS) have been given an average recommendation of “Hold” by the seven research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $15.98.
RMBS has been the topic of several recent analyst reports. Zacks Investment Research upgraded Rambus from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Friday, October 27th. Citigroup Inc. upped their target price on Rambus from $15.30 to $15.90 and gave the company a “buy” rating in a report on Wednesday, October 25th. Loop Capital reiterated a “buy” rating and issued a $19.00 target price (up previously from $16.00) on shares of Rambus in a report on Tuesday, October 24th. TheStreet raised Rambus from a “c+” rating to a “b-” rating in a research report on Friday, October 13th. Finally, J P Morgan Chase & Co lowered Rambus from an “overweight” rating to a “neutral” rating and set a $15.00 target price for the company. in a research note on Friday, September 22nd.
In related news, Director Penny Herscher sold 6,437 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $13.44, for a total transaction of $86,513.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Shrigley sold 5,000 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $14.06, for a total value of $70,300.00. Following the sale, the director now directly owns 53,045 shares of the company’s stock, valued at $745,812.70. The disclosure for this sale can be found here. Insiders sold a total of 30,350 shares of company stock worth $407,104 in the last quarter. Corporate insiders own 2.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. boosted its stake in Rambus by 9.2% during the second quarter. Ameritas Investment Partners Inc. now owns 9,734 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 822 shares during the period. Shelton Capital Management purchased a new position in shares of Rambus in the second quarter worth about $126,000. Trexquant Investment LP purchased a new position in shares of Rambus in the second quarter worth about $137,000. Petrus Trust Company LTA purchased a new position in shares of Rambus in the second quarter worth about $138,000. Finally, Hanson & Doremus Investment Management purchased a new position in Rambus during the 2nd quarter valued at about $155,000. 76.07% of the stock is owned by hedge funds and other institutional investors.
Rambus (NASDAQ RMBS) traded down $0.15 on Monday, hitting $14.44. 524,684 shares of the stock were exchanged, compared to its average volume of 756,992. The stock has a market capitalization of $1,584.10, a price-to-earnings ratio of 28.86, a P/E/G ratio of 2.75 and a beta of 0.76. Rambus has a 12 month low of $11.30 and a 12 month high of $14.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.37 and a quick ratio of 1.34.
Rambus (NASDAQ:RMBS) last released its earnings results on Monday, October 23rd. The semiconductor company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. Rambus had a net margin of 2.54% and a return on equity of 9.79%. The firm had revenue of $99.10 million during the quarter, compared to analyst estimates of $99.00 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. analysts forecast that Rambus will post 0.52 earnings per share for the current year.
Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.
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