Rambus (NASDAQ:RMBS) Upgraded at Zacks Research

Zacks Research upgraded shares of Rambus (NASDAQ:RMBS) to a hold rating in a research report released on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 target price on shares of Rambus in a research report on Tuesday, October 28th. Evercore ISI raised their price objective on shares of Rambus from $114.00 to $126.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Cfra Research lowered shares of Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Susquehanna set a $100.00 price target on shares of Rambus and gave the stock a “neutral” rating in a research report on Monday, October 6th. Finally, William Blair began coverage on Rambus in a report on Thursday, January 22nd. They set an “outperform” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $108.14.

Rambus Stock Up 7.5%

RMBS stock opened at $124.44 on Monday. Rambus has a twelve month low of $40.12 and a twelve month high of $135.75. The company has a market cap of $13.40 billion, a PE ratio of 58.98 and a beta of 1.51. The business’s 50-day simple moving average is $99.44 and its 200 day simple moving average is $91.45.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, October 27th. The semiconductor company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.18). Rambus had a net margin of 33.72% and a return on equity of 17.73%. The firm had revenue of $178.51 million during the quarter, compared to analyst estimates of $175.60 million. During the same period last year, the company earned $0.45 EPS. The company’s revenue was up 22.7% on a year-over-year basis. On average, equities research analysts anticipate that Rambus will post 1.89 EPS for the current year.

Insider Buying and Selling

In other Rambus news, Director Eric B. Stang sold 5,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $102.35, for a total transaction of $511,750.00. Following the sale, the director directly owned 24,394 shares of the company’s stock, valued at approximately $2,496,725.90. This represents a 17.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Nordea Investment Management AB increased its stake in Rambus by 1,216.0% during the 2nd quarter. Nordea Investment Management AB now owns 69,116 shares of the semiconductor company’s stock worth $4,381,000 after purchasing an additional 63,864 shares in the last quarter. Oak Grove Capital LLC acquired a new position in shares of Rambus in the second quarter valued at approximately $519,000. First Citizens Bank & Trust Co. increased its position in shares of Rambus by 250.9% during the second quarter. First Citizens Bank & Trust Co. now owns 13,591 shares of the semiconductor company’s stock worth $870,000 after acquiring an additional 9,718 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Rambus by 5.1% during the second quarter. Neuberger Berman Group LLC now owns 1,348,038 shares of the semiconductor company’s stock worth $86,300,000 after acquiring an additional 65,870 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in shares of Rambus by 3.7% during the second quarter. Panagora Asset Management Inc. now owns 477,359 shares of the semiconductor company’s stock worth $30,561,000 after acquiring an additional 16,921 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

About Rambus

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.