Rambus Inc. (NASDAQ:RMBS) Given Average Rating of “Buy” by Analysts

Shares of Rambus Inc. (NASDAQ:RMBS – Get Rating) have received an average recommendation of “Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $29.14.

Several equities analysts have recently commented on RMBS shares. Credit Suisse Group increased their target price on Rambus from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, February 8th. TheStreet upgraded Rambus from a “c+” rating to a “b” rating in a research note on Monday, February 28th. StockNews.com started coverage on Rambus in a research note on Thursday, March 31st. They set a “buy” rating for the company. Finally, Zacks Investment Research cut Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday.

In other news, CEO Luc Seraphin sold 12,500 shares of the firm’s stock in a transaction on Monday, April 11th. The stock was sold at an average price of $25.86, for a total transaction of $323,250.00. Following the transaction, the chief executive officer now directly owns 251,182 shares of the company’s stock, valued at $6,495,566.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles Kissner sold 40,000 shares of the firm’s stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $28.05, for a total value of $1,122,000.00. The disclosure for this sale can be found here. Insiders sold 125,073 shares of company stock worth $3,585,432 over the last quarter. 1.53% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in RMBS. Russell Investments Group Ltd. boosted its position in shares of Rambus by 14.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 627,397 shares of the semiconductor company’s stock valued at $13,926,000 after purchasing an additional 77,182 shares during the period. SG Americas Securities LLC boosted its position in shares of Rambus by 2,272.7% in the 3rd quarter. SG Americas Securities LLC now owns 208,158 shares of the semiconductor company’s stock valued at $4,621,000 after purchasing an additional 199,385 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Rambus in the 3rd quarter valued at $1,163,000. Martingale Asset Management L P boosted its position in Rambus by 119.8% during the 3rd quarter. Martingale Asset Management L P now owns 45,873 shares of the semiconductor company’s stock worth $1,019,000 after acquiring an additional 24,999 shares during the period. Finally, New York State Teachers Retirement System boosted its position in Rambus by 7.5% during the 4th quarter. New York State Teachers Retirement System now owns 63,502 shares of the semiconductor company’s stock worth $1,866,000 after acquiring an additional 4,441 shares during the period. 85.05% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:RMBS opened at $25.89 on Friday. Rambus has a 52-week low of $17.95 and a 52-week high of $33.75. The company has a 50 day moving average of $28.36 and a two-hundred day moving average of $26.58. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 161.81 and a beta of 1.06.

Rambus (NASDAQ:RMBS – Get Rating) last issued its quarterly earnings data on Monday, February 7th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.03. Rambus had a net margin of 5.58% and a return on equity of 15.89%. The company had revenue of $91.78 million during the quarter, compared to the consensus estimate of $123.01 million. During the same quarter last year, the company earned $0.24 earnings per share. Rambus’s revenue for the quarter was up 48.2% on a year-over-year basis. On average, equities research analysts anticipate that Rambus will post 1.32 EPS for the current year.

Rambus Company Profile (Get Rating)

Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5, DDR4 and DDR3 memory interface chips to module manufacturers and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced applications; and physical interface and digital controller IP to offer industry-leading, integrated memory and interconnect subsystems.

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