Rambus (NASDAQ:RMBS) Trading 7.9% Higher – Here’s What Happened

Rambus, Inc. (NASDAQ:RMBS)’s share price shot up 7.9% on Thursday . The stock traded as high as $119.82 and last traded at $118.3490. Approximately 441,058 shares traded hands during trading, a decline of 84% from the average session volume of 2,676,290 shares. The stock had previously closed at $109.64.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Rosenblatt Securities upped their target price on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Jefferies Financial Group lifted their price objective on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Wells Fargo & Company upped their price objective on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Finally, Robert W. Baird lowered shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Rambus presently has an average rating of “Moderate Buy” and a consensus target price of $130.43.

Rambus Stock Performance

The company has a 50 day moving average price of $133.76 and a two-hundred day moving average price of $113.60. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 55.58 and a beta of 1.84.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $180.19 million during the quarter, compared to analysts’ expectations of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. On average, equities analysts expect that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Emiko Higashi sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the completion of the sale, the director owned 49,519 shares in the company, valued at approximately $7,947,799.50. The trade was a 16.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric B. Stang sold 5,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the completion of the transaction, the director owned 19,218 shares of the company’s stock, valued at $2,805,828. This represents a 20.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 74,424 shares of company stock worth $11,179,633 over the last 90 days. 0.75% of the stock is owned by insiders.

Institutional Trading of Rambus

A number of large investors have recently bought and sold shares of RMBS. Acumen Wealth Advisors LLC purchased a new stake in shares of Rambus in the fourth quarter valued at about $25,000. Torren Management LLC purchased a new position in shares of Rambus during the fourth quarter worth about $26,000. Spire Wealth Management increased its position in Rambus by 199.0% in the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 201 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in Rambus in the 4th quarter valued at about $28,000. Finally, CoreCap Advisors LLC purchased a new stake in Rambus during the 2nd quarter valued at approximately $53,000. 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.