Several other research analysts also recently commented on RMBS. Zacks Investment Research downgraded shares of Rambus from a hold rating to a sell rating in a report on Saturday, April 27th. TheStreet raised shares of Rambus from a d+ rating to a c- rating in a report on Friday, April 12th. Wells Fargo & Co started coverage on shares of Rambus in a report on Tuesday, May 14th. They set an outperform rating and a $11.35 price objective for the company. Deutsche Bank upped their target price on shares of Rambus from $12.00 to $14.00 and gave the company a buy rating in a research report on Tuesday, April 23rd. Finally, ValuEngine upgraded shares of Rambus from a sell rating to a hold rating in a research report on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $12.87.
RMBS opened at $10.87 on Tuesday. Rambus has a 52 week low of $7.17 and a 52 week high of $13.88. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 1.56 and a beta of 0.82. The company has a quick ratio of 7.75, a current ratio of 7.87 and a debt-to-equity ratio of 0.16.
Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, April 22nd. The semiconductor company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.36). Rambus had a negative net margin of 25.04% and a positive return on equity of 5.11%. The company had revenue of $100.20 million for the quarter, compared to the consensus estimate of $99.00 million. During the same period last year, the company earned $0.21 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, sell-side analysts forecast that Rambus will post 0.73 EPS for the current fiscal year.
In other news, Director Ellis Thomas Fisher sold 2,500 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $10.23, for a total transaction of $25,575.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Luc Seraphin sold 2,674 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $11.40, for a total transaction of $30,483.60. Following the sale, the chief executive officer now owns 258,479 shares in the company, valued at $2,946,660.60. The disclosure for this sale can be found here. Insiders have sold a total of 42,999 shares of company stock worth $444,143 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Rambus by 95.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,950,490 shares of the semiconductor company’s stock worth $43,099,000 after purchasing an additional 1,929,517 shares during the period. Vanguard Group Inc. raised its position in Rambus by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,936,938 shares of the semiconductor company’s stock worth $119,321,000 after purchasing an additional 277,298 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Rambus in the 4th quarter worth about $631,000. Cambiar Investors LLC raised its position in Rambus by 13.2% in the 4th quarter. Cambiar Investors LLC now owns 451,444 shares of the semiconductor company’s stock worth $3,463,000 after purchasing an additional 52,472 shares during the period. Finally, Arizona State Retirement System raised its position in Rambus by 7.3% in the 4th quarter. Arizona State Retirement System now owns 167,090 shares of the semiconductor company’s stock worth $1,282,000 after purchasing an additional 11,372 shares during the period. Hedge funds and other institutional investors own 77.49% of the company’s stock.
Rambus Company Profile
Rambus Inc provides semiconductor products in the United States, Japan, Europe, Taiwan, China, South Korea, Canada, Singapore, Asia, and internationally. The company operates through three divisions: Memory and Interfaces, Rambus Security, and Emerging Solutions. The Memory and Interfaces division engages in the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces.
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