Rambus (NASDAQ:RMBS) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Rambus (NASDAQ:RMBS) from a hold rating to a buy rating in a research report report published on Saturday morning, ValuEngine reports.

A number of other research firms have also weighed in on RMBS. Citigroup raised their price objective on Rambus from $13.10 to $15.00 and gave the company a buy rating in a research report on Tuesday, July 30th. BidaskClub lowered Rambus from a buy rating to a hold rating in a research report on Saturday, August 24th. Finally, Zacks Investment Research raised Rambus from a sell rating to a hold rating in a research report on Wednesday, June 26th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $12.67.

Shares of NASDAQ:RMBS opened at $13.69 on Friday. Rambus has a 52-week low of $7.17 and a 52-week high of $14.29. The firm has a market capitalization of $1.55 billion, a P/E ratio of 18.01, a P/E/G ratio of 1.88 and a beta of 0.67. The stock has a 50 day moving average price of $12.43 and a 200-day moving average price of $11.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.48 and a current ratio of 7.59.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, July 29th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.21). Rambus had a negative net margin of 35.34% and a positive return on equity of 2.52%. The company had revenue of $58.30 million for the quarter, compared to the consensus estimate of $96.25 million. During the same period last year, the business earned $0.21 EPS. The firm’s quarterly revenue was down 41.0% on a year-over-year basis. On average, equities analysts forecast that Rambus will post 0.75 EPS for the current fiscal year.

In other Rambus news, insider Luc Seraphin sold 18,287 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $11.98, for a total transaction of $219,078.26. Following the sale, the insider now directly owns 228,697 shares in the company, valued at approximately $2,739,790.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jae Kim sold 2,297 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $13.00, for a total value of $29,861.00. Following the sale, the senior vice president now owns 134,025 shares in the company, valued at $1,742,325. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,061 shares of company stock valued at $778,084. 1.00% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Rambus during the 2nd quarter valued at $37,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in Rambus during the 2nd quarter valued at $43,000. Marshall Wace LLP purchased a new stake in Rambus during the 1st quarter valued at $46,000. Quantamental Technologies LLC boosted its stake in Rambus by 15.9% during the 2nd quarter. Quantamental Technologies LLC now owns 7,768 shares of the semiconductor company’s stock valued at $94,000 after purchasing an additional 1,067 shares during the last quarter. Finally, ETF Managers Group LLC boosted its stake in Rambus by 9.8% during the 1st quarter. ETF Managers Group LLC now owns 10,658 shares of the semiconductor company’s stock valued at $111,000 after purchasing an additional 949 shares during the last quarter. Institutional investors and hedge funds own 78.77% of the company’s stock.

Rambus Company Profile

Rambus Inc provides semiconductor products in the United States, Japan, Europe, Taiwan, China, South Korea, Canada, Singapore, Asia, and internationally. The company operates through three divisions: Memory and Interfaces, Rambus Security, and Emerging Solutions. The Memory and Interfaces division engages in the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces.

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