Rambus (NASDAQ:RMBS) Rating Reiterated by Susquehanna Bancshares

Susquehanna Bancshares reissued their buy rating on shares of Rambus (NASDAQ:RMBSGet Rating) in a research report report published on Tuesday morning, Stock Target Advisor reports. They currently have a $33.00 price target on the semiconductor company’s stock.

Several other brokerages have also issued reports on RMBS. Deutsche Bank Aktiengesellschaft lifted their price target on Rambus from $30.00 to $32.00 in a report on Tuesday. Susquehanna reiterated a buy rating and set a $33.00 price target on shares of Rambus in a report on Tuesday. Zacks Investment Research lowered Rambus from a buy rating to a hold rating in a report on Wednesday, April 13th. Credit Suisse Group lifted their price target on Rambus from $25.00 to $28.00 and gave the company a neutral rating in a report on Tuesday, February 8th. Finally, StockNews.com initiated coverage on Rambus in a report on Thursday, March 31st. They set a buy rating for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Buy and an average target price of $30.25.

NASDAQ:RMBS opened at $26.25 on Tuesday. Rambus has a fifty-two week low of $17.95 and a fifty-two week high of $33.75. The stock’s 50-day moving average is $28.12 and its two-hundred day moving average is $26.93. The stock has a market cap of $2.89 billion, a PE ratio of 164.06 and a beta of 1.16.

Rambus (NASDAQ:RMBSGet Rating) last released its earnings results on Monday, February 7th. The semiconductor company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.03. Rambus had a return on equity of 15.89% and a net margin of 5.58%. The company had revenue of $91.78 million for the quarter, compared to analysts’ expectations of $123.01 million. During the same quarter in the previous year, the business posted $0.24 EPS. The business’s revenue for the quarter was up 48.2% on a year-over-year basis. Sell-side analysts forecast that Rambus will post 1.32 EPS for the current year.

In other Rambus news, Director Charles Kissner sold 40,000 shares of Rambus stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $28.05, for a total value of $1,122,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Luc Seraphin sold 8,313 shares of Rambus stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $25.30, for a total value of $210,318.90. Following the completion of the transaction, the chief executive officer now directly owns 240,807 shares in the company, valued at $6,092,417.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,886 shares of company stock valued at $4,117,876. Corporate insiders own 1.53% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System increased its position in Rambus by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 52,900 shares of the semiconductor company’s stock worth $1,555,000 after buying an additional 400 shares during the period. Mutual of America Capital Management LLC increased its position in shares of Rambus by 2.9% during the fourth quarter. Mutual of America Capital Management LLC now owns 14,942 shares of the semiconductor company’s stock valued at $439,000 after purchasing an additional 420 shares during the period. California State Teachers Retirement System increased its position in shares of Rambus by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 151,345 shares of the semiconductor company’s stock valued at $4,448,000 after purchasing an additional 600 shares during the period. Maryland State Retirement & Pension System increased its position in shares of Rambus by 1.8% during the fourth quarter. Maryland State Retirement & Pension System now owns 43,600 shares of the semiconductor company’s stock valued at $1,281,000 after purchasing an additional 752 shares during the period. Finally, Stifel Financial Corp increased its position in shares of Rambus by 0.9% during the fourth quarter. Stifel Financial Corp now owns 91,330 shares of the semiconductor company’s stock valued at $2,684,000 after purchasing an additional 841 shares during the period. 86.99% of the stock is currently owned by institutional investors.

About Rambus (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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