Rambus (NASDAQ:RMBS) Cut to Sell at BidaskClub

BidaskClub downgraded shares of Rambus (NASDAQ:RMBS) from a hold rating to a sell rating in a research report released on Friday, December 29th.

RMBS has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Rambus from a hold rating to a buy rating and set a $16.00 price objective for the company in a research report on Friday, October 27th. Loop Capital reaffirmed a buy rating and issued a $19.00 target price (up from $16.00) on shares of Rambus in a research note on Tuesday, October 24th. Citigroup raised their target price on shares of Rambus from $15.30 to $15.90 and gave the company a buy rating in a research note on Wednesday, October 25th. JPMorgan Chase & Co. downgraded shares of Rambus from an overweight rating to a neutral rating and set a $15.00 target price on the stock. in a research note on Friday, September 22nd. Finally, TheStreet raised shares of Rambus from a c+ rating to a b- rating in a research note on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $15.98.

Rambus (RMBS) opened at $14.36 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.37 and a quick ratio of 1.34. Rambus has a 1 year low of $11.30 and a 1 year high of $15.50. The company has a market cap of $1,580.00, a P/E ratio of 159.56, a PEG ratio of 2.56 and a beta of 0.74.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, October 23rd. The semiconductor company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. Rambus had a net margin of 2.54% and a return on equity of 9.79%. The company had revenue of $99.10 million during the quarter, compared to analyst estimates of $99.00 million. During the same period last year, the business earned $0.16 earnings per share. Rambus’s revenue was up 10.2% compared to the same quarter last year. analysts predict that Rambus will post 0.52 EPS for the current fiscal year.

In other Rambus news, SVP Jae Kim sold 7,000 shares of Rambus stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $14.90, for a total transaction of $104,300.00. Following the transaction, the senior vice president now directly owns 99,580 shares of the company’s stock, valued at $1,483,742. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David A. Shrigley sold 5,000 shares of Rambus stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $14.06, for a total transaction of $70,300.00. Following the transaction, the director now directly owns 53,045 shares in the company, valued at $745,812.70. The disclosure for this sale can be found here. Insiders sold 28,643 shares of company stock worth $416,358 over the last ninety days. 2.00% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. increased its stake in shares of Rambus by 9.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,734 shares of the semiconductor company’s stock worth $111,000 after buying an additional 822 shares during the period. Zions Bancorporation purchased a new position in shares of Rambus in the third quarter worth $122,000. Shelton Capital Management purchased a new position in shares of Rambus in the second quarter worth $126,000. Petrus Trust Company LTA purchased a new position in shares of Rambus in the second quarter worth $138,000. Finally, Magnetar Financial LLC purchased a new position in shares of Rambus in the third quarter worth $145,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

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Rambus Company Profile

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.

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