Rambus Inc. (NASDAQ:RMBS) – Research analysts at Jefferies Group dropped their Q4 2016 earnings per share (EPS) estimates for shares of Rambus in a report issued on Wednesday. Jefferies Group analyst M. Lipacis now expects that the brokerage will earn $0.10 per share for the quarter, down from their previous forecast of $0.15. Jefferies Group currently has a “Hold” rating and a $12.50 target price on the stock.
Several other brokerages have also issued reports on RMBS. Roth Capital assumed coverage on Rambus in a report on Wednesday, August 31st. They issued a “buy” rating and a $16.00 price target on the stock. Zacks Investment Research upgraded Rambus from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Citigroup Inc. increased their price target on Rambus from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 20th. Wunderlich assumed coverage on Rambus in a report on Friday, June 3rd. They issued a “buy” rating and a $15.00 price target on the stock. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and issued a $12.50 price target on shares of Rambus in a report on Tuesday, July 5th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.11.
Rambus (NASDAQ:RMBS) traded down 0.39% during mid-day trading on Friday, reaching $12.67. The company had a trading volume of 264,260 shares. The stock has a 50-day moving average of $13.52 and a 200 day moving average of $12.79. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 7.21 and a beta of 0.93. Rambus has a 12-month low of $9.86 and a 12-month high of $14.50.
Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, July 18th. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. Rambus had a return on equity of 10.40% and a net margin of 66.99%. The company earned $76.50 million during the quarter, compared to the consensus estimate of $74.44 million. During the same period in the previous year, the company posted $0.13 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year.
Several hedge funds have recently modified their holdings of RMBS. Emerald Acquisition Ltd. bought a new stake in shares of Rambus during the second quarter valued at approximately $4,979,000. Bank of Montreal Can acquired a new stake in shares of Rambus during the second quarter worth approximately $4,881,000. Panagora Asset Management Inc. increased its stake in shares of 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 during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of 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 during the last quarter. Finally, BlackRock Group LTD increased its stake in shares of 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 during the last quarter. 74.55% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Satish Rishi sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $13.49, for a total value of $26,980.00. Following the completion of the sale, the senior vice president now directly owns 251,838 shares of the company’s stock, valued at $3,397,294.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Laura Stark sold 4,010 shares of the stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $11.55, for a total value of $46,315.50. Following the completion of the sale, the senior vice president now directly owns 172,619 shares of the company’s stock, valued at $1,993,749.45. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.
Rambus Company Profile
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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