Rambus (NASDAQ:RMBS) Shares Gap Up – Here’s What Happened

Rambus, Inc. (NASDAQ:RMBS) gapped up before the market opened on Thursday . The stock had previously closed at $125.93, but opened at $133.00. Rambus shares last traded at $125.2920, with a volume of 1,924,352 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on RMBS. Susquehanna set a $100.00 price objective on shares of Rambus and gave the stock a “neutral” rating in a report on Monday, October 6th. Cfra Research downgraded Rambus from a “hold” rating to a “moderate sell” rating in a report on Monday, December 15th. Evercore ISI boosted their target price on shares of Rambus from $114.00 to $126.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Wells Fargo & Company raised their price target on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, William Blair started coverage on shares of Rambus in a research note on Thursday. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Rambus presently has an average rating of “Buy” and a consensus price target of $108.14.

Rambus Price Performance

The stock has a market cap of $13.41 billion, a PE ratio of 59.09 and a beta of 1.51. The business has a fifty day moving average of $96.68 and a 200-day moving average of $89.54.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, October 27th. The semiconductor company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.18). The business had revenue of $178.51 million during the quarter, compared to the consensus estimate of $175.60 million. Rambus had a return on equity of 17.73% and a net margin of 33.72%.The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period last year, the firm earned $0.45 EPS. As a group, equities research analysts predict that Rambus, Inc. will post 1.89 EPS for the current year.

Insider Activity

In related news, Director Eric B. Stang sold 5,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $102.35, for a total value of $511,750.00. Following the transaction, the director directly owned 24,394 shares of the company’s stock, valued at $2,496,725.90. This represents a 17.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rambus

A number of large investors have recently bought and sold shares of the business. Allworth Financial LP grew its position in shares of Rambus by 8.2% in the third quarter. Allworth Financial LP now owns 1,601 shares of the semiconductor company’s stock valued at $167,000 after purchasing an additional 121 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in Rambus by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,703 shares of the semiconductor company’s stock valued at $594,000 after acquiring an additional 125 shares during the period. Tealwood Asset Management Inc. increased its stake in Rambus by 0.7% during the 2nd quarter. Tealwood Asset Management Inc. now owns 20,460 shares of the semiconductor company’s stock worth $1,310,000 after buying an additional 150 shares during the period. GAMMA Investing LLC lifted its holdings in Rambus by 3.3% during the 4th quarter. GAMMA Investing LLC now owns 4,833 shares of the semiconductor company’s stock worth $444,000 after buying an additional 153 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Rambus by 14.8% in the 2nd quarter. Signaturefd LLC now owns 1,288 shares of the semiconductor company’s stock valued at $82,000 after buying an additional 166 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

About Rambus

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.