Shares of Rambus Inc. (NASDAQ:RMBS) have been given an average recommendation of “Buy” by the nine brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $28.00.
A number of brokerages have recently commented on RMBS. Zacks Investment Research raised Rambus from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Thursday, December 2nd. Credit Suisse Group boosted their price objective on Rambus from $22.50 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 2nd. Finally, Rosenblatt Securities began coverage on Rambus in a research report on Thursday, October 14th. They set a “buy” rating and a $35.00 price objective for the company.
Shares of NASDAQ:RMBS opened at $28.86 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.56 and a quick ratio of 6.48. The firm has a market capitalization of $3.16 billion, a PE ratio of 25.36 and a beta of 0.99. The firm’s 50-day moving average is $24.64 and its two-hundred day moving average is $23.43. Rambus has a 1 year low of $17.07 and a 1 year high of $29.51.
Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, November 1st. The semiconductor company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.30). Rambus had a return on equity of 14.16% and a net margin of 0.05%. The company had revenue of $81.28 million for the quarter, compared to analyst estimates of $113.00 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The business’s quarterly revenue was up 42.8% compared to the same quarter last year. Analysts expect that Rambus will post 1.15 EPS for the current fiscal year.
In related news, SVP John Shinn sold 2,033 shares of the company’s stock in a transaction that occurred on Wednesday, November 17th. The stock was sold at an average price of $24.55, for a total value of $49,910.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Rambus by 1.9% in the second quarter. Vanguard Group Inc. now owns 12,208,922 shares of the semiconductor company’s stock valued at $289,474,000 after acquiring an additional 224,767 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of Rambus by 1.5% in the third quarter. Neuberger Berman Group LLC now owns 4,120,310 shares of the semiconductor company’s stock valued at $90,495,000 after acquiring an additional 62,747 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Rambus by 3.8% in the second quarter. Geode Capital Management LLC now owns 1,964,039 shares of the semiconductor company’s stock valued at $46,567,000 after acquiring an additional 72,634 shares during the period. Northern Trust Corp boosted its holdings in shares of Rambus by 0.7% in the second quarter. Northern Trust Corp now owns 1,713,911 shares of the semiconductor company’s stock valued at $40,637,000 after acquiring an additional 12,010 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Rambus by 6.0% in the second quarter. JPMorgan Chase & Co. now owns 896,166 shares of the semiconductor company’s stock valued at $21,247,000 after acquiring an additional 50,806 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.
Rambus Company Profile
Rambus, Inc engages in the provision of cutting-edge semiconductor and Internet Protocol products, spanning memory and interfaces to security, smart sensors and lighting. Its products include Memory Interface Chips, Interface IP, and Security IP. The company was founded by P. Michael Farmwald and Mark A.