Rambus (RMBS) Downgraded by BidaskClub
BidaskClub downgraded shares of Rambus (NASDAQ:RMBS) from a hold rating to a sell rating in a report published on Friday.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Rambus from a buy rating to a hold rating in a research report on Tuesday, December 26th. Citigroup boosted their price objective on Rambus from $15.30 to $15.90 and gave the stock a buy rating in a research report on Wednesday, October 25th. Loop Capital reissued a buy rating and set a $19.00 price objective (up previously from $16.00) on shares of Rambus in a research 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, JPMorgan Chase & Co. cut Rambus from an overweight rating to a neutral rating and set a $15.00 price objective for the company. in a research report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $15.98.
Shares of Rambus (RMBS) opened at $14.22 on Friday. The stock has a market capitalization of $1,561.05, a PE ratio of 158.00, a PEG ratio of 2.71 and a beta of 0.75. Rambus has a 52 week low of $11.30 and a 52 week high of $15.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.37.
Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, October 23rd. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $99.10 million during the quarter, compared to the consensus estimate of $99.00 million. Rambus had a return on equity of 9.79% and a net margin of 2.54%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 EPS. research analysts expect that Rambus will post 0.52 earnings per share for the current year.
In other Rambus news, Director David A. Shrigley sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $14.06, for a total value of $70,300.00. Following the completion of the transaction, the director now owns 53,045 shares of the company’s stock, valued at approximately $745,812.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Laura Stark sold 3,069 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $13.65, for a total value of $41,891.85. The disclosure for this sale can be found here. Insiders have sold a total of 35,209 shares of company stock valued at $504,661 in the last three months. 2.00% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Rambus by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 10,036,227 shares of the semiconductor company’s stock valued at $114,714,000 after acquiring an additional 188,666 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Rambus by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,474,536 shares of the semiconductor company’s stock valued at $59,736,000 after acquiring an additional 12,609 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in Rambus by 9.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 3,803,318 shares of the semiconductor company’s stock valued at $50,774,000 after acquiring an additional 329,930 shares in the last quarter. State Street Corp raised its holdings in Rambus by 4.0% in the 2nd quarter. State Street Corp now owns 3,084,528 shares of the semiconductor company’s stock valued at $35,256,000 after acquiring an additional 119,833 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Rambus by 40.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,908,586 shares of the semiconductor company’s stock valued at $33,245,000 after acquiring an additional 832,386 shares in the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.
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Rambus Company Profile
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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