Rambus, Inc. (RMBS) Stock Rating Upgraded by Zacks Investment Research
Rambus, Inc. (NASDAQ:RMBS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The brokerage presently has a $14.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 9.63% from the company’s current price.
According to Zacks, “Rambus, Inc. designs, develops, licenses and markets high-speed chip-to-chip interface technology to enhance the performance and cost-effectiveness of computers, consumer electronics and other electronic systems. The company licenses semiconductor companies to manufacture and sell memory and logic integrated circuits incorporating Rambus interface technology and markets its solution to systems companies to encourage them to design Rambus interface technology into their products. “
Several other brokerages also recently weighed in on RMBS. BidaskClub upgraded shares of Rambus from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. Jefferies Group LLC restated a “hold” rating and issued a $14.00 target price (up from $13.50) on shares of Rambus in a research note on Tuesday, July 25th. Loop Capital restated a “buy” rating and issued a $16.00 target price on shares of Rambus in a research note on Tuesday, August 22nd. Finally, TheStreet downgraded shares of Rambus from a “b-” rating to a “c+” rating in a research note on Friday, June 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Rambus has an average rating of “Buy” and an average target price of $14.90.
Rambus (NASDAQ:RMBS) opened at 12.77 on Friday. The stock has a 50 day moving average price of $12.77 and a 200 day moving average price of $12.54. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 212.83 and a beta of 0.90. Rambus has a 12-month low of $11.30 and a 12-month high of $14.50.
Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, July 24th. The semiconductor company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The company had revenue of $94.70 million during the quarter, compared to the consensus estimate of $93 million. Rambus had a net margin of 1.76% and a return on equity of 9.28%. Rambus’s revenue was up 23.8% compared to the same quarter last year. During the same period last year, the firm earned $0.15 earnings per share. On average, analysts expect that Rambus will post $0.65 EPS for the current year.
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In other Rambus news, SVP Laura Stark sold 3,640 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $12.59, for a total value of $45,827.60. Following the completion of the transaction, the senior vice president now owns 207,922 shares of the company’s stock, valued at $2,617,737.98. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jae Kim sold 42,449 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $12.71, for a total transaction of $539,526.79. Following the completion of the transaction, the senior vice president now directly owns 120,126 shares of the company’s stock, valued at approximately $1,526,801.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,927 shares of company stock valued at $760,522. Corporate insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of RMBS. Ameritas Investment Partners Inc. bought a new position in Rambus during the first quarter worth about $117,000. Neuberger Berman Group LLC boosted its position in shares of Rambus by 1.3% in the first quarter. Neuberger Berman Group LLC now owns 3,625,211 shares of the semiconductor company’s stock valued at $47,635,000 after buying an additional 46,970 shares during the period. BlackRock Inc. boosted its position in shares of Rambus by 17,759.2% in the first quarter. BlackRock Inc. now owns 14,458,840 shares of the semiconductor company’s stock valued at $189,990,000 after buying an additional 14,377,880 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Rambus by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 4,349,719 shares of the semiconductor company’s stock valued at $57,155,000 after buying an additional 216,124 shares during the period. Finally, Stevens Capital Management LP acquired a new position in shares of Rambus during the first quarter valued at about $199,000. 79.96% of the stock is owned by institutional investors and hedge funds.
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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