Rambus (NASDAQ:RMBS) Reaches New 12-Month Low at $20.65

Shares of Rambus Inc. (NASDAQ:RMBSGet Rating) hit a new 52-week low during trading on Thursday . The stock traded as low as $20.65 and last traded at $20.75, with a volume of 1041237 shares traded. The stock had previously closed at $22.56.

Several brokerages have recently commented on RMBS. TheStreet cut shares of Rambus from a “b-” rating to a “c” rating in a research report on Monday, May 2nd. StockNews.com raised shares of Rambus from a “hold” rating to a “buy” rating in a report on Thursday, May 19th. Susquehanna Bancshares reissued a “buy” rating and issued a $33.00 target price on shares of Rambus in a report on Tuesday, May 3rd. Susquehanna reissued a “buy” rating and issued a $33.00 target price on shares of Rambus in a report on Tuesday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Rambus from $30.00 to $32.00 in a report on Tuesday, May 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $31.33.

The firm’s 50 day simple moving average is $24.80 and its 200 day simple moving average is $26.86. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -49.81 and a beta of 1.16.

Rambus (NASDAQ:RMBSGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The semiconductor company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. Rambus had a negative net margin of 12.68% and a positive return on equity of 17.27%. The company had revenue of $132.70 million for the quarter, compared to analyst estimates of $127.95 million. As a group, analysts expect that Rambus Inc. will post 1.34 EPS for the current fiscal year.

In related news, Director Charles Kissner sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $25.91, for a total transaction of $518,200.00. Following the transaction, the director now owns 48,421 shares in the company, valued at $1,254,588.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Luc Seraphin sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $31.09, for a total transaction of $388,625.00. The disclosure for this sale can be found here. Insiders sold 100,487 shares of company stock worth $2,798,866 in the last 90 days. 1.53% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of RMBS. Westwood Holdings Group Inc. acquired a new position in shares of Rambus during the fourth quarter valued at approximately $85,872,000. Norges Bank acquired a new position in shares of Rambus during the fourth quarter valued at approximately $32,020,000. Neuberger Berman Group LLC increased its stake in shares of Rambus by 19.9% during the first quarter. Neuberger Berman Group LLC now owns 4,220,649 shares of the semiconductor company’s stock valued at $134,646,000 after acquiring an additional 701,583 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in Rambus in the first quarter worth approximately $21,937,000. Finally, BlackRock Inc. grew its position in Rambus by 3.7% in the fourth quarter. BlackRock Inc. now owns 17,152,046 shares of the semiconductor company’s stock worth $504,098,000 after buying an additional 610,638 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Rambus Company Profile (NASDAQ:RMBS)

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.

Featured Stories

Receive News & Ratings for Rambus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rambus and related companies with MarketBeat.com's FREE daily email newsletter.