Rambus, Inc. (NASDAQ:RMBS)‘s stock had its “buy” rating reaffirmed by equities researchers at Loop Capital in a report released on Tuesday. They currently have a $16.00 target price on the semiconductor company’s stock. Loop Capital’s price target suggests a potential upside of 26.88% from the company’s previous close.
Several other research firms also recently weighed in on RMBS. Jefferies Group LLC reissued a “hold” rating and issued a $13.50 target price on shares of Rambus in a research report on Tuesday, April 25th. Zacks Investment Research raised shares of Rambus from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Saturday, July 29th. BidaskClub raised shares of Rambus from a “sell” rating to a “hold” rating in a research report on Friday, July 14th. Finally, TheStreet raised shares of Rambus from a “c” rating to a “b-” rating in a research report on Monday, April 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Rambus has an average rating of “Buy” and a consensus target price of $15.10.
Rambus (NASDAQ:RMBS) opened at 12.61 on Tuesday. The company has a 50-day moving average price of $12.65 and a 200 day moving average price of $12.54. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 210.17 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 released its quarterly earnings results on Monday, July 24th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Rambus had a net margin of 1.76% and a return on equity of 9.28%. The firm had revenue of $94.70 million for the quarter, compared to the consensus estimate of $93 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The firm’s quarterly revenue was up 23.8% on a year-over-year basis. On average, equities research analysts predict that Rambus will post $0.65 EPS for the current year.
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In other news, SVP Laura Stark sold 3,640 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 207,922 shares of the company’s stock, valued at approximately $2,617,737.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David A. Shrigley sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $12.98, for a total transaction of $64,900.00. Following the completion of the sale, the director now directly owns 46,253 shares of the company’s stock, valued at $600,363.94. The disclosure for this sale can be found here. Insiders have sold a total of 59,927 shares of company stock valued at $760,522 over the last three months. 2.00% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of RMBS. LS Investment Advisors LLC increased its stake in Rambus by 88.5% in the first quarter. LS Investment Advisors LLC now owns 7,648 shares of the semiconductor company’s stock worth $100,000 after buying an additional 3,590 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Rambus during the first quarter worth about $117,000. Engineers Gate Manager LP purchased a new stake in Rambus during the first quarter worth about $135,000. Shelton Capital Management purchased a new stake in Rambus during the second quarter worth about $126,000. Finally, Trexquant Investment LP purchased a new stake in Rambus during the second quarter worth about $137,000. 79.96% of the stock is owned by institutional investors.
About Rambus
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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