Zacks Investment Research upgraded shares of Rambus, Inc. (NASDAQ:RMBS) from a hold rating to a buy rating in a research report sent to investors on Saturday. Zacks Investment Research currently has $14.00 price target on the semiconductor company’s stock.
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 analysts also recently weighed in on the company. BidaskClub downgraded Rambus from a sell rating to a strong sell rating in a research note on Wednesday. Loop Capital reaffirmed a buy rating and issued a $16.00 price objective on shares of Rambus in a research report on Tuesday, August 22nd. Jefferies Group LLC reaffirmed a hold rating and issued a $14.00 price objective (up from $13.50) on shares of Rambus in a research report on Tuesday, July 25th. Finally, TheStreet cut Rambus from a b- rating to a c+ rating in a research report on Friday, June 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $14.90.
Shares of Rambus (NASDAQ:RMBS) traded up 0.16% during mid-day trading on Friday, hitting $12.77. The stock had a trading volume of 294,347 shares. Rambus has a 1-year low of $11.30 and a 1-year high of $14.50. The company has a market capitalization of $1.40 billion, a P/E ratio of 212.83 and a beta of 0.90. The stock’s 50-day moving average price is $12.77 and its 200 day moving average price is $12.54.
Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, July 24th. The semiconductor company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The company had revenue of $94.70 million for the quarter, compared to the consensus estimate of $93 million. Rambus had a return on equity of 9.28% and a net margin of 1.76%. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 EPS. On average, analysts predict that Rambus will post $0.65 EPS for the current fiscal year.
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In other news, SVP Laura Stark sold 3,640 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $12.59, for a total transaction of $45,827.60. Following the transaction, the senior vice president now directly owns 207,922 shares of the company’s stock, valued at approximately $2,617,737.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Shrigley sold 5,000 shares of the stock in a transaction on Friday, July 28th. The shares were sold at an average price of $12.98, for a total value of $64,900.00. Following the transaction, the director now directly owns 46,253 shares in the company, 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 worth $760,522 over the last three months. Insiders own 2.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in 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 last quarter. Vanguard Group Inc. boosted its position in Rambus by 1.9% in the second quarter. Vanguard Group Inc. now owns 10,036,227 shares of the semiconductor company’s stock valued at $114,714,000 after buying an additional 188,666 shares during the last quarter. Primecap Management Co. CA boosted its position in Rambus by 10.1% in the first quarter. Primecap Management Co. CA now owns 9,589,497 shares of the semiconductor company’s stock valued at $126,006,000 after buying an additional 881,225 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Rambus by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,461,927 shares of the semiconductor company’s stock valued at $51,001,000 after buying an additional 112,208 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its position in 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 last quarter. 79.96% of the stock is currently owned by hedge funds and other 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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