Rambus Inc. (NASDAQ:RMBS)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $20.27, but opened at $20.91. Rambus shares last traded at $21.16, with a volume of 15,915 shares.
RMBS has been the topic of a number of analyst reports. Susquehanna began coverage on shares of Rambus in a research note on Friday, April 30th. They set a “positive” rating and a $26.00 price objective on the stock. Susquehanna Bancshares began coverage on shares of Rambus in a research note on Friday, April 30th. They issued a “positive” rating and a $26.00 price target on the stock. Citigroup reduced their price target on shares of Rambus from $230.00 to $24.00 in a research note on Tuesday, May 11th. Finally, Zacks Investment Research downgraded shares of Rambus from a “hold” rating to a “sell” rating in a research note on Tuesday, May 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $21.57.
The business’s fifty day moving average is $19.47. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -63.97 and a beta of 1.05. The company has a current ratio of 9.01, a quick ratio of 8.89 and a debt-to-equity ratio of 0.17.
Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, May 3rd. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.30). The business had revenue of $105.00 million during the quarter, compared to the consensus estimate of $103.01 million. Rambus had a negative net margin of 15.35% and a positive return on equity of 3.87%. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 EPS. Equities research analysts anticipate that Rambus Inc. will post 1.08 EPS for the current fiscal year.
In related news, SVP John Shinn sold 2,037 shares of the firm’s stock in a transaction that occurred on Monday, May 17th. The shares were sold at an average price of $18.43, for a total value of $37,541.91. 1.50% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Schroder Investment Management Group bought a new position in Rambus during the 1st quarter worth approximately $868,000. Teachers Retirement System of The State of Kentucky raised its holdings in Rambus by 16.6% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 32,312 shares of the semiconductor company’s stock worth $628,000 after purchasing an additional 4,600 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Rambus by 276.3% during the 1st quarter. Squarepoint Ops LLC now owns 55,785 shares of the semiconductor company’s stock worth $1,084,000 after purchasing an additional 40,959 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in Rambus by 18.7% during the 1st quarter. Loomis Sayles & Co. L P now owns 2,578,651 shares of the semiconductor company’s stock worth $50,129,000 after purchasing an additional 406,632 shares during the last quarter. Finally, Gotham Asset Management LLC bought a new position in Rambus during the 1st quarter worth approximately $573,000. Hedge funds and other institutional investors own 83.99% of the company’s stock.
Rambus Company Profile (NASDAQ:RMBS)
Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, Asia, and internationally. The company offers DDR memory interface chips to module manufacturers and OEMs; physical interface and companion digital controller IPs for SoC designers; and portfolio of patents that covers memory architecture, high-speed serial links, and security products.
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