BidaskClub Upgrades Rambus, Inc. (RMBS) to Hold

Rambus, Inc. (NASDAQ:RMBS) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other brokerages have also recently commented on RMBS. Jefferies Group LLC reaffirmed a “hold” rating and set a $13.50 price target on shares of Rambus in a research report on Tuesday, April 25th. TheStreet raised shares of Rambus from a “c” rating to a “b-” rating in a research report on Monday, April 24th. Finally, Zacks Investment Research cut shares of Rambus from a “hold” rating to a “sell” rating in a research report on Saturday, April 29th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $15.00.

Shares of Rambus (RMBS) opened at 12.63 on Friday. The firm has a market cap of $1.41 billion, a P/E ratio of 180.43 and a beta of 0.87. The company’s 50-day moving average price is $12.00 and its 200 day moving average price is $12.86. Rambus has a 52 week low of $11.30 and a 52 week high of $14.50.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, April 24th. The semiconductor company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. The business had revenue of $97.40 million for the quarter, compared to analysts’ expectations of $95.52 million. Rambus had a net margin of 2.20% and a return on equity of 9.70%. The business’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 earnings per share. On average, equities analysts anticipate that Rambus will post $0.62 earnings per share for the current year.

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In other news, SVP Laura Stark sold 3,644 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $12.06, for a total transaction of $43,946.64. Following the transaction, the senior vice president now owns 209,176 shares in the company, valued at $2,522,662.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 12,830 shares of company stock worth $160,008 in the last quarter. Company insiders own 2.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan raised its position in shares of Rambus by 0.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 31,410 shares of the semiconductor company’s stock valued at $413,000 after buying an additional 290 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Rambus by 3.2% in the first quarter. State of Alaska Department of Revenue now owns 12,270 shares of the semiconductor company’s stock valued at $161,000 after buying an additional 380 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Rambus by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 45,300 shares of the semiconductor company’s stock valued at $595,000 after buying an additional 900 shares in the last quarter. Arizona State Retirement System raised its position in shares of Rambus by 1.8% in the first quarter. Arizona State Retirement System now owns 57,900 shares of the semiconductor company’s stock valued at $761,000 after buying an additional 1,000 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Rambus by 0.8% in the first quarter. Legal & General Group Plc now owns 192,798 shares of the semiconductor company’s stock valued at $2,532,000 after buying an additional 1,511 shares in the last quarter. Hedge funds and other institutional investors own 79.23% of the company’s stock.

Rambus Company Profile

Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.

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