Rambus Inc. (NASDAQ:RMBS) Director Penny Herscher sold 6,809 shares of Rambus stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $12.43, for a total transaction of $84,635.87. Following the sale, the director now directly owns 12,874 shares of the company’s stock, valued at approximately $160,023.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Rambus Inc. (NASDAQ:RMBS) opened at 12.61 on Thursday. The firm has a 50-day moving average of $13.23 and a 200 day moving average of $12.75. The firm has a market capitalization of $1.39 billion, a PE ratio of 7.17 and a beta of 1.32. Rambus Inc. has a 12 month low of $9.86 and a 12 month high of $14.50.
Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, July 18th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. Rambus had a net margin of 66.99% and a return on equity of 10.40%. The business earned $76.50 million during the quarter, compared to analyst estimates of $74.44 million. During the same period in the previous year, the business posted $0.13 earnings per share. Rambus’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts forecast that Rambus Inc. will post $0.56 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. acquired a new stake in shares of Rambus during the second quarter worth $4,979,000. Bank of Montreal Can purchased a new stake in Rambus during the second quarter worth approximately $4,881,000. Panagora Asset Management Inc. raised its stake in Rambus by 12,970.1% in the second quarter. Panagora Asset Management Inc. now owns 326,753 shares of the company’s stock worth $3,947,000 after buying an additional 324,253 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Rambus by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,845,877 shares of the company’s stock worth $46,457,000 after buying an additional 304,699 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in Rambus by 73.5% in the first quarter. BlackRock Group LTD now owns 257,490 shares of the company’s stock worth $3,541,000 after buying an additional 109,067 shares in the last quarter. Institutional investors and hedge funds own 74.55% of the company’s stock.
A number of brokerages have recently weighed in on RMBS. Roth Capital began coverage on shares of Rambus in a research report on Wednesday, August 31st. They set a “buy” rating and a $16.00 price target on the stock. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $12.50 price objective on shares of Rambus in a research report on Tuesday, July 5th. Jefferies Group reissued a “hold” rating and set a $12.50 price target on shares of Rambus in a research report on Wednesday, July 6th. Zacks Investment Research raised shares of Rambus from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. Finally, Citigroup Inc. boosted their price target on shares of Rambus from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, July 20th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Rambus presently has a consensus rating of “Buy” and a consensus target price of $14.11.
Rambus Inc produces semiconductor and Internet protocol (IP) products, spanning memory and interfaces to security, sensors and lighting. The Company’s products are integrated into devices and systems, powering and securing diverse applications, including big data and media platforms. Its segments include Memory and Interfaces Division (MID) and Cryptography Research Division (CRD).
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