Rambus (RMBS) Rating Lowered to Sell at Zacks Investment Research

Rambus (NASDAQ:RMBS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Rambus creates innovative hardware and software technologies, driving advancements from the data center to the mobile edge. Their chips, customizable IP cores, architecture licenses, tools, software, services, training and innovations improve the competitive advantage of their customers. They collaborate with the industry, partnering with leading ASIC and SoC designers, foundries, IP developers, EDA companies and validation labs. Their products are integrated into tens of billions of devices and systems, powering and securing diverse applications, including Big Data, Internet of Things (IoT), mobile payments, and smart ticketing. At Rambus, they are makers of better. “

Several other equities research analysts also recently weighed in on the stock. Citigroup increased their target price on shares of Rambus from $15.30 to $15.90 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. BidaskClub downgraded shares of Rambus from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Loop Capital reiterated a “buy” rating and set a $19.00 target price (up previously from $16.00) on shares of Rambus in a research note on Tuesday, October 24th. TheStreet upgraded shares of Rambus from a “c+” rating to a “b-” rating in a research note on Friday, October 13th. Finally, Benchmark restated a “buy” rating and issued a $18.00 price objective (up previously from $16.00) on shares of Rambus in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $16.32.

Shares of Rambus (NASDAQ RMBS) opened at $12.84 on Wednesday. Rambus has a 12 month low of $11.30 and a 12 month high of $15.50. The firm has a market cap of $1,386.50 and a PE ratio of 25.26. The company has a current ratio of 2.80, a quick ratio of 1.34 and a debt-to-equity ratio of 0.31.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, January 29th. The semiconductor company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Rambus had a negative net margin of 4.70% and a positive return on equity of 9.56%. The business had revenue of $101.89 million during the quarter, compared to the consensus estimate of $101.25 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. research analysts expect that Rambus will post 0.56 EPS for the current fiscal year.

In related news, SVP Laura Stark sold 2,937 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $14.48, for a total value of $42,527.76. Following the completion of the sale, the senior vice president now owns 205,966 shares in the company, valued at $2,982,387.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jae Kim sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $14.90, for a total transaction of $104,300.00. Following the completion of the sale, the senior vice president now owns 99,580 shares of the company’s stock, valued at approximately $1,483,742. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,990 shares of company stock valued at $507,530. 2.00% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. Wesbanco Bank Inc. acquired a new stake in shares of Rambus during the 3rd quarter valued at approximately $761,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Rambus by 37.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 53,220 shares of the semiconductor company’s stock valued at $710,000 after acquiring an additional 14,448 shares in the last quarter. Global X MANAGEMENT CO LLC lifted its holdings in shares of Rambus by 16.5% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 49,129 shares of the semiconductor company’s stock valued at $656,000 after acquiring an additional 6,952 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Rambus by 47.7% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 55,559 shares of the semiconductor company’s stock valued at $742,000 after acquiring an additional 17,954 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Rambus by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,461,927 shares of the semiconductor company’s stock valued at $51,001,000 after acquiring an additional 112,208 shares in the last quarter. Hedge funds and other institutional investors own 78.35% of the company’s stock.

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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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