Rambus (RMBS) Downgraded to Strong Sell at ValuEngine

ValuEngine cut shares of Rambus (NASDAQ:RMBS) from a sell rating to a strong sell rating in a research note published on Monday.

A number of other brokerages have also issued reports on RMBS. BidaskClub raised shares of Rambus from a strong sell rating to a sell rating in a report on Tuesday, July 24th. Zacks Investment Research raised shares of Rambus from a hold rating to a buy rating and set a $14.00 price objective for the company in a report on Saturday, August 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $16.65.

Shares of RMBS opened at $9.71 on Monday. The company has a quick ratio of 3.49, a current ratio of 3.53 and a debt-to-equity ratio of 0.16. Rambus has a 12-month low of $9.63 and a 12-month high of $15.50. The stock has a market capitalization of $1.17 billion, a P/E ratio of 21.58, a PEG ratio of 1.49 and a beta of 0.15.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, July 30th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. Rambus had a negative net margin of 22.63% and a positive return on equity of 8.45%. The firm had revenue of $98.80 million during the quarter, compared to analyst estimates of $96.78 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. Rambus’s quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts anticipate that Rambus will post 0.73 EPS for the current year.

In other Rambus news, Vice Chairman Charles Kissner sold 5,896 shares of the stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $10.59, for a total transaction of $62,438.64. Following the completion of the transaction, 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 is available at this link. Company insiders own 3.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. NumerixS Investment Technologies Inc boosted its stake in Rambus by 471.4% during the second quarter. NumerixS Investment Technologies Inc now owns 8,000 shares of the semiconductor company’s stock worth $104,000 after buying an additional 6,600 shares during the period. US Bancorp DE boosted its stake in Rambus by 4,945.2% during the first quarter. US Bancorp DE now owns 10,494 shares of the semiconductor company’s stock worth $141,000 after buying an additional 10,286 shares during the period. Advisors Capital Management LLC purchased a new position in Rambus during the second quarter worth about $143,000. Hartford Investment Management Co. purchased a new position in Rambus during the second quarter worth about $168,000. Finally, Harvest Management LLC purchased a new position in Rambus during the second quarter worth about $197,000. 80.40% of the stock is owned by institutional investors.

About Rambus

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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Analyst Recommendations for Rambus (NASDAQ:RMBS)

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