Rambus, Inc. (NASDAQ:RMBS) Lifted to Buy at Zacks Investment Research

Rambus, Inc. (NASDAQ:RMBS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday, July 29th. The brokerage currently has a $15.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 18.86% from the stock’s previous close.

According to Zacks, “Rambus, Inc. designs, develops, licenses and markets high-speed chip-to-chip interface technology to enhance the performance and cost-effectiveness of computers, consumer electronics and other electronic systems. The company licenses semiconductor companies to manufacture and sell memory and logic integrated circuits incorporating Rambus interface technology and markets its solution to systems companies to encourage them to design Rambus interface technology into their products. “

RMBS has been the topic of a number of other research reports. BidaskClub cut shares of Rambus from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. TheStreet raised shares of Rambus from a “c” rating to a “b-” rating in a research note on Monday, April 24th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $14.00 target price (up previously from $13.50) on shares of Rambus in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $15.10.

Shares of Rambus (RMBS) opened at 12.62 on Friday. Rambus has a 12 month low of $11.30 and a 12 month high of $14.50. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 210.33 and a beta of 0.90. The company’s 50-day moving average is $12.62 and its 200 day moving average is $12.55.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, July 24th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Rambus had a net margin of 1.76% and a return on equity of 9.28%. The company had revenue of $94.70 million during the quarter, compared to analyst estimates of $93 million. During the same period last year, the firm posted $0.15 EPS. Rambus’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, equities research analysts anticipate that Rambus will post $0.65 earnings per share for the current year.

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In related news, SVP Laura Stark sold 3,640 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $12.59, for a total value of $45,827.60. Following the completion of the transaction, the senior vice president now directly owns 207,922 shares of the company’s stock, valued at $2,617,737.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Shrigley sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $12.98, for a total value of $64,900.00. Following the completion of the transaction, the director now directly owns 46,253 shares of the company’s stock, valued at $600,363.94. The disclosure for this sale can be found here. Insiders have sold 59,927 shares of company stock worth $760,522 over the last quarter. Insiders own 2.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Rambus during the second quarter worth $713,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Rambus during the second quarter worth $276,000. Ameritas Investment Partners Inc. boosted its stake in shares of Rambus by 9.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,734 shares of the semiconductor company’s stock worth $111,000 after buying an additional 822 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Rambus by 2.3% in the second quarter. The Manufacturers Life Insurance Company now owns 85,901 shares of the semiconductor company’s stock worth $981,000 after buying an additional 1,959 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Rambus during the second quarter worth $443,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

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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