BidaskClub Lowers Rambus (RMBS) to Hold
BidaskClub cut shares of Rambus (NASDAQ:RMBS) from a buy rating to a hold rating in a research report report published on Tuesday.
RMBS has been the topic of several other reports. Zacks Investment Research raised Rambus from a hold rating to a buy rating and set a $16.00 price target on the stock in a research report on Friday, October 27th. TheStreet raised Rambus from a c+ rating to a b- rating in a research report on Friday, October 13th. Loop Capital reaffirmed a buy rating and set a $19.00 price target (up from $16.00) on shares of Rambus in a research report on Tuesday, October 24th. Citigroup increased their price target on Rambus from $15.30 to $15.90 and gave the stock a buy rating in a research report on Wednesday, October 25th. Finally, J P Morgan Chase & Co downgraded Rambus from an overweight rating to a neutral rating and set a $15.00 price target on the stock. in a research report on Friday, September 22nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Rambus has a consensus rating of Buy and a consensus target price of $15.98.
Shares of Rambus (RMBS) traded down $0.07 during mid-day trading on Tuesday, reaching $14.68. The company had a trading volume of 1,250,300 shares, compared to its average volume of 795,221. The stock has a market cap of $1,619.23, a price-to-earnings ratio of 29.50, a price-to-earnings-growth ratio of 2.81 and a beta of 0.75. 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 has a one year low of $11.30 and a one year high of $15.50.
Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, October 23rd. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.02. The company had revenue of $99.10 million during the quarter, compared to analyst estimates of $99.00 million. Rambus had a return on equity of 9.79% and a net margin of 2.54%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. equities analysts predict that Rambus will post 0.52 earnings per share for the current year.
In other news, Director David A. Shrigley sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $14.06, for a total transaction of $70,300.00. Following the sale, the director now directly owns 53,045 shares in the company, valued at approximately $745,812.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Penny Herscher sold 6,437 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $13.44, for a total value of $86,513.28. The disclosure for this sale can be found here. Insiders have sold a total of 36,646 shares of company stock worth $515,244 over the last ninety days. 2.00% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the company. Pinebridge Investments L.P. grew its position in shares of Rambus by 1.5% during the 2nd quarter. Pinebridge Investments L.P. now owns 14,720 shares of the semiconductor company’s stock valued at $169,000 after acquiring an additional 219 shares during the period. Arizona State Retirement System grew its position in shares of Rambus by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 58,300 shares of the semiconductor company’s stock valued at $666,000 after acquiring an additional 400 shares during the period. Amalgamated Bank grew its position in shares of Rambus by 3.7% during the 2nd quarter. Amalgamated Bank now owns 15,208 shares of the semiconductor company’s stock valued at $174,000 after acquiring an additional 549 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Rambus by 9.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,734 shares of the semiconductor company’s stock worth $111,000 after buying an additional 822 shares during the last quarter. Finally, Texas Permanent School Fund boosted its holdings in Rambus by 1.3% in the 2nd quarter. Texas Permanent School Fund now owns 81,574 shares of the semiconductor company’s stock worth $932,000 after buying an additional 1,082 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.
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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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