Rambus Inc. (NASDAQ:RMBS) Receives Average Recommendation of “Buy” from Brokerages

Shares of Rambus Inc. (NASDAQ:RMBSGet Rating) have been assigned an average rating of “Buy” from the ten brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $30.29.

A number of equities research analysts recently issued reports on RMBS shares. TheStreet cut Rambus from a “b-” rating to a “c” rating in a research note on Monday, May 2nd. Susquehanna Bancshares restated a “buy” rating and issued a $33.00 price objective on shares of Rambus in a research note on Tuesday, May 3rd. Credit Suisse Group upped their price target on Rambus from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, February 8th. StockNews.com assumed coverage on Rambus in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Rambus from $30.00 to $32.00 in a research report on Tuesday, May 3rd.

NASDAQ RMBS opened at $24.35 on Tuesday. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -57.97 and a beta of 1.16. Rambus has a one year low of $17.95 and a one year high of $33.75. The business’s fifty day moving average is $28.02 and its 200-day moving average is $27.05.

Rambus (NASDAQ:RMBSGet Rating) last announced its quarterly earnings data on Monday, February 7th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Rambus had a positive return on equity of 17.27% and a negative net margin of 12.68%. The business had revenue of $91.78 million for the quarter, compared to analysts’ expectations of $123.01 million. During the same period in the previous year, the business posted $0.24 EPS. The firm’s quarterly revenue was up 48.2% compared to the same quarter last year. Equities research analysts forecast that Rambus will post 1.34 earnings per share for the current fiscal year.

In other Rambus news, SVP John Shinn sold 10,073 shares of the company’s stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $26.81, for a total value of $270,057.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Luc Seraphin sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $28.11, for a total value of $351,375.00. The disclosure for this sale can be found here. Insiders have sold 165,886 shares of company stock valued at $4,636,076 in the last three months. 1.53% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of RMBS. Dark Forest Capital Management LP purchased a new stake in shares of Rambus during the third quarter valued at approximately $27,000. Confluence Wealth Services Inc. purchased a new stake in shares of Rambus during the fourth quarter valued at approximately $41,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Rambus during the fourth quarter valued at approximately $46,000. Neo Ivy Capital Management purchased a new stake in shares of Rambus during the fourth quarter valued at approximately $54,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Rambus during the first quarter valued at approximately $65,000. 86.99% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Rambus (NASDAQ:RMBS)

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