Credit Suisse Group Initiates Coverage on Rambus (NASDAQ:RMBS)

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Credit Suisse Group began coverage on shares of Rambus (NASDAQ:RMBS) in a report issued on Tuesday, May 29th, Marketbeat.com reports. The firm issued a neutral rating and a $16.00 price target on the semiconductor company’s stock.

A number of other research analysts also recently issued reports on the company. Zacks Investment Research upgraded Rambus from a hold rating to a buy rating and set a $15.00 price objective for the company in a report on Friday, May 11th. BidaskClub upgraded Rambus from a sell rating to a hold rating in a report on Friday, May 4th. Deutsche Bank began coverage on Rambus in a report on Tuesday, March 27th. They set a buy rating and a $17.00 price objective for the company. Finally, ValuEngine upgraded Rambus from a hold rating to a buy rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $16.24.

Shares of Rambus traded up $0.11, hitting $13.59, during trading hours on Tuesday, Marketbeat.com reports. The company’s stock had a trading volume of 975,488 shares, compared to its average volume of 798,318. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.44 and a quick ratio of 3.40. The company has a market capitalization of $1.46 billion, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 2.04 and a beta of 0.41. Rambus has a 12 month low of $11.30 and a 12 month high of $15.50.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, May 7th. The semiconductor company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.31). The firm had revenue of $100.50 million for the quarter, compared to the consensus estimate of $97.00 million. Rambus had a positive return on equity of 8.46% and a negative net margin of 17.65%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 earnings per share. equities analysts anticipate that Rambus will post 0.67 EPS for the current fiscal year.

In other Rambus news, SVP Jae Kim sold 2,297 shares of the firm’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $13.50, for a total value of $31,009.50. Following the completion of the transaction, the senior vice president now directly owns 128,684 shares in the company, valued at $1,737,234. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.20% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of RMBS. Renaissance Technologies LLC grew its stake in Rambus by 28.6% in the fourth quarter. Renaissance Technologies LLC now owns 4,231,286 shares of the semiconductor company’s stock valued at $60,169,000 after purchasing an additional 941,800 shares in the last quarter. BlackRock Inc. lifted its position in shares of Rambus by 2.7% in the first quarter. BlackRock Inc. now owns 14,052,181 shares of the semiconductor company’s stock valued at $188,722,000 after buying an additional 373,408 shares during the last quarter. AXA lifted its position in shares of Rambus by 499.3% in the fourth quarter. AXA now owns 358,400 shares of the semiconductor company’s stock valued at $5,096,000 after buying an additional 298,600 shares during the last quarter. Millennium Management LLC lifted its position in shares of Rambus by 14.5% in the fourth quarter. Millennium Management LLC now owns 1,785,638 shares of the semiconductor company’s stock valued at $25,392,000 after buying an additional 225,529 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Rambus by 773.1% in the fourth quarter. SG Americas Securities LLC now owns 205,953 shares of the semiconductor company’s stock valued at $2,929,000 after buying an additional 182,365 shares during the last quarter. Hedge funds and other institutional investors own 81.68% of the company’s stock.

Rambus Company Profile

Rambus Inc provides semiconductor products in South Korea and internationally. The company operates through Memory and Interfaces, Security, and Other segments. It focuses on the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces; and design, development, deployment, and licensing of technologies for chip, system and in-field application security, anti-counterfeiting, smart ticketing, and mobile payments.

Analyst Recommendations for Rambus (NASDAQ:RMBS)

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