Rambus (RMBS) Shares Up 7.3%

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Rambus Inc. (NASDAQ:RMBS) shares shot up 7.3% during mid-day trading on Wednesday . The company traded as high as $8.71 and last traded at $8.71. 851,396 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 759,638 shares. The stock had previously closed at $8.12.

A number of research firms recently issued reports on RMBS. ValuEngine cut Rambus from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. BidaskClub cut Rambus from a “hold” rating to a “sell” rating in a report on Friday, August 17th. Zacks Investment Research cut Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Roth Capital cut their price target on Rambus from $18.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, October 23rd. Finally, Deutsche Bank cut their price target on Rambus from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.80.

The firm has a market capitalization of $919.95 million, a price-to-earnings ratio of 19.36, a PEG ratio of 1.17 and a beta of 0.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.53 and a quick ratio of 3.49.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, October 29th. The semiconductor company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.23). The firm had revenue of $59.80 million for the quarter, compared to the consensus estimate of $100.00 million. Rambus had a positive return on equity of 7.94% and a negative net margin of 45.18%. The business’s revenue for the quarter was down 39.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. As a group, equities analysts anticipate that Rambus Inc. will post 0.73 EPS for the current year.

In other Rambus news, Vice Chairman Charles Kissner sold 5,896 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $10.59, for a total transaction of $62,438.64. Following the completion of the sale, the insider now directly owns 33,347 shares of the company’s stock, valued at approximately $353,144.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its holdings in Rambus by 8.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 86,502 shares of the semiconductor company’s stock worth $944,000 after purchasing an additional 6,583 shares during the last quarter. Cambiar Investors LLC raised its holdings in Rambus by 10.3% during the 3rd quarter. Cambiar Investors LLC now owns 398,972 shares of the semiconductor company’s stock worth $4,353,000 after purchasing an additional 37,399 shares during the last quarter. Bank of Montreal Can raised its holdings in Rambus by 4.3% during the 3rd quarter. Bank of Montreal Can now owns 481,740 shares of the semiconductor company’s stock worth $5,255,000 after purchasing an additional 19,743 shares during the last quarter. Dalton Greiner Hartman Maher & Co. raised its holdings in Rambus by 6.4% during the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 1,487,747 shares of the semiconductor company’s stock worth $16,231,000 after purchasing an additional 89,623 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Rambus by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,483,269 shares of the semiconductor company’s stock worth $18,601,000 after purchasing an additional 12,232 shares during the last quarter. 80.47% of the stock is owned by hedge funds and other institutional investors.

Rambus Company Profile (NASDAQ:RMBS)

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.

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