Rambus Inc. (NASDAQ:RMBS) – Equities research analysts at Jefferies Group dropped their Q3 2016 EPS estimates for Rambus in a research report issued on Wednesday. Jefferies Group analyst M. Lipacis now expects that the brokerage will post earnings per share of $0.10 for the quarter, down from their previous forecast of $0.12. Jefferies Group currently has a “Hold” rating and a $12.50 price target on the stock. Jefferies Group also issued estimates for Rambus’ FY2016 earnings at $0.42 EPS and FY2017 earnings at $0.48 EPS.
Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, July 18th. The company reported $0.15 earnings per share (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 firm earned $76.50 million during the quarter, compared to analyst estimates of $74.44 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year.
Other equities research analysts have also issued reports about the company. Zacks Investment Research upgraded Rambus from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th. Wunderlich began coverage on Rambus in a research note on Friday, June 3rd. They issued a “buy” rating and a $15.00 price objective for the company. Citigroup Inc. upped their price objective on Rambus from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, July 20th. JPMorgan Chase & Co. restated a “hold” rating and issued a $12.50 price objective on shares of Rambus in a research note on Tuesday, July 5th. Finally, Roth Capital began coverage on Rambus in a research note on Wednesday, August 31st. They issued a “buy” rating and a $16.00 price objective for the company. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $14.11.
Shares of Rambus (NASDAQ:RMBS) opened at 12.47 on Monday. Rambus has a 52 week low of $9.86 and a 52 week high of $14.50. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 7.09 and a beta of 0.93. The firm’s 50-day moving average price is $13.42 and its 200 day moving average price is $12.78.
In other news, CEO Ronald D. Black sold 29,528 shares of the firm’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $13.51, for a total transaction of $398,923.28. Following the completion of the transaction, the chief executive officer now owns 359,241 shares in the company, valued at $4,853,345.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jae Kim sold 9,851 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $13.87, for a total value of $136,633.37. Following the transaction, the senior vice president now owns 92,605 shares of the company’s stock, valued at approximately $1,284,431.35. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Emerald Acquisition Ltd. purchased a new position in shares of Rambus during the second quarter worth $4,979,000. Bank of Montreal Can acquired a new position in shares of Rambus during the second quarter worth approximately $4,881,000. Panagora Asset Management Inc. increased its position 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 position 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 position 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. Hedge funds and other institutional investors own 74.55% of the company’s stock.
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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