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 equities analysts have also issued reports on the company. Roth Capital started coverage on Rambus in a research note on Wednesday, August 31st. They set a buy rating and a $16.00 price target on the stock. Citigroup Inc. upped their price target on Rambus from $14.00 to $15.00 and gave the company a buy rating in a research note on Wednesday, July 20th. Jefferies Group reaffirmed a hold rating and set a $12.50 price target on shares of Rambus in a research note on Wednesday, July 6th. JPMorgan Chase & Co. reaffirmed a hold rating and set a $12.50 price target on shares of Rambus in a research note on Tuesday, July 5th. Finally, Benchmark Co. reaffirmed a positive rating on shares of Rambus in a research note on Tuesday, October 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $14.11.
Rambus (NASDAQ:RMBS) opened at 11.67 on Wednesday. Rambus has a 52 week low of $9.86 and a 52 week high of $14.50. The company has a 50-day moving average price of $12.83 and a 200-day moving average price of $12.66. The stock has a market cap of $1.28 billion, a PE ratio of 6.64 and a beta of 1.32.
Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, July 18th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. The company had revenue of $76.50 million for the quarter, compared to analysts’ expectations of $74.44 million. Rambus had a return on equity of 10.40% and a net margin of 66.99%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 earnings per share. Analysts anticipate that Rambus will post $0.56 earnings per share for the current year.
In other news, SVP Laura Stark sold 4,010 shares of the firm’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $12.51, for a total transaction of $50,165.10. Following the sale, the senior vice president now owns 169,876 shares of the company’s stock, valued at $2,125,148.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Satish Rishi sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $13.99, for a total value of $55,960.00. Following the sale, the senior vice president now directly owns 247,838 shares in the company, valued at approximately $3,467,253.62. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Princeton Alpha Management LP acquired a new stake in Rambus during the second quarter worth approximately $130,000. Jefferies Group LLC acquired a new stake in Rambus during the second quarter worth approximately $135,000. Advisors Capital Management LLC acquired a new stake in Rambus during the second quarter worth approximately $137,000. Amalgamated Bank raised its stake in Rambus by 5.7% in the second quarter. Amalgamated Bank now owns 12,853 shares of the company’s stock worth $174,000 after buying an additional 697 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Rambus by 20.4% in the second quarter. Sei Investments Co. now owns 13,310 shares of the company’s stock worth $160,000 after buying an additional 2,255 shares in the last quarter. 74.54% of the stock is currently owned by institutional investors.
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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