Rambus Inc. (NASDAQ:RMBS) – Equities researchers at Jefferies Financial Group lifted their FY2018 earnings estimates for Rambus in a report released on Tuesday, October 30th. Jefferies Financial Group analyst M. Lipacis now expects that the semiconductor company will post earnings per share of $0.76 for the year, up from their previous forecast of $0.73. Jefferies Financial Group also issued estimates for Rambus’ Q4 2018 earnings at $0.21 EPS, Q1 2019 earnings at $0.19 EPS, Q2 2019 earnings at $0.17 EPS, Q3 2019 earnings at $0.19 EPS, Q4 2019 earnings at $0.20 EPS and FY2019 earnings at $0.74 EPS.
Several other analysts also recently issued reports on RMBS. Zacks Investment Research downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. BidaskClub downgraded shares of Rambus from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 17th. ValuEngine downgraded shares of Rambus from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. Roth Capital decreased their price objective on shares of Rambus from $18.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, October 23rd. Finally, Deutsche Bank decreased their price objective on shares of Rambus from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Rambus presently has an average rating of “Hold” and an average target price of $14.80.
Shares of NASDAQ RMBS opened at $9.35 on Friday. The company has a quick ratio of 3.49, a current ratio of 8.02 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $871.64 million, a price-to-earnings ratio of 20.78, a PEG ratio of 1.11 and a beta of 0.14. Rambus has a 1 year low of $7.30 and a 1 year high of $15.50.
Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, October 29th. The semiconductor company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.23). The company had revenue of $59.80 million during the quarter, compared to analysts’ expectations of $100.00 million. Rambus had a positive return on equity of 7.78% and a negative net margin of 45.18%. The company’s revenue was down 39.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 EPS.
In other Rambus news, Vice Chairman Charles Kissner sold 5,896 shares of the firm’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $10.59, for a total value of $62,438.64. Following the completion of the sale, the insider now owns 33,347 shares of the company’s stock, valued at $353,144.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.20% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Meadow Creek Investment Management LLC raised its stake in shares of Rambus by 30.9% during the second quarter. Meadow Creek Investment Management LLC now owns 20,272 shares of the semiconductor company’s stock valued at $254,000 after acquiring an additional 4,788 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Rambus by 2.2% during the first quarter. Legal & General Group Plc now owns 228,832 shares of the semiconductor company’s stock valued at $3,066,000 after acquiring an additional 4,888 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Rambus by 5.8% during the second quarter. Bank of America Corp DE now owns 99,710 shares of the semiconductor company’s stock valued at $1,250,000 after acquiring an additional 5,457 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Rambus by 8.2% during the third quarter. Russell Investments Group Ltd. now owns 86,502 shares of the semiconductor company’s stock valued at $944,000 after acquiring an additional 6,583 shares in the last quarter. Finally, Summit Global Investments raised its stake in shares of Rambus by 15.5% during the second quarter. Summit Global Investments now owns 49,300 shares of the semiconductor company’s stock valued at $618,000 after acquiring an additional 6,600 shares in the last quarter. 80.47% of the stock is owned by hedge funds and other institutional investors.
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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