Rambus (NASDAQ:RMBS) Raised to “Sell” at BidaskClub

Rambus (NASDAQ:RMBS) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Friday, March 9th.

A number of other analysts have also recently weighed in on the stock. ValuEngine upgraded shares of Rambus from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Benchmark restated a “buy” rating and set a $18.00 target price (up from $16.00) on shares of Rambus in a report on Thursday, January 25th. Finally, Zacks Investment Research cut shares of Rambus from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $16.41.

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Shares of NASDAQ RMBS traded up $0.11 during mid-day trading on Friday, reaching $13.30. 1,122,706 shares of the company traded hands, compared to its average volume of 908,473. Rambus has a fifty-two week low of $11.30 and a fifty-two week high of $15.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.80 and a quick ratio of 2.76. The firm has a market capitalization of $1,484.47, a PE ratio of 29.56, a P/E/G ratio of 2.02 and a beta of 0.48.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, January 29th. The semiconductor company reported $0.19 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.19. Rambus had a negative net margin of 4.70% and a positive return on equity of 9.54%. The business had revenue of $101.89 million for the quarter, compared to analyst estimates of $101.25 million. During the same quarter last year, the business earned $0.16 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. sell-side analysts anticipate that Rambus will post 0.66 earnings per share for the current fiscal year.

In related news, Director David A. Shrigley sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $14.18, for a total value of $70,900.00. Following the completion of the transaction, the director now owns 48,045 shares of the company’s stock, valued at approximately $681,278.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Laura Stark sold 2,940 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $14.10, for a total transaction of $41,454.00. Following the completion of the transaction, the senior vice president now directly owns 199,673 shares of the company’s stock, valued at approximately $2,815,389.30. The disclosure for this sale can be found here. Insiders have sold 24,925 shares of company stock valued at $335,030 over the last 90 days. 3.20% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of RMBS. Ameritas Investment Partners Inc. boosted its stake in Rambus by 9.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,734 shares of the semiconductor company’s stock worth $111,000 after purchasing an additional 822 shares during the period. Zions Bancorporation acquired a new position in Rambus in the 3rd quarter worth approximately $122,000. Magnetar Financial LLC acquired a new position in Rambus in the 3rd quarter worth approximately $145,000. LMR Partners LLP acquired a new position in Rambus in the 3rd quarter worth approximately $192,000. Finally, Harvest Management LLC purchased a new stake in Rambus in the 4th quarter worth approximately $213,000. 81.18% of the stock is owned by hedge funds and other institutional investors.

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About Rambus

Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.

Analyst Recommendations for Rambus (NASDAQ:RMBS)

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