Rambus (NASDAQ:RMBS) PT Raised to $15.00

Rambus (NASDAQ:RMBS) had its price objective lifted by stock analysts at Citigroup from $13.10 to $15.00 in a note issued to investors on Tuesday, July 30th, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Citigroup‘s price target indicates a potential upside of 23.05% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. Deutsche Bank increased their target price on Rambus from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Zacks Investment Research upgraded Rambus from a “sell” rating to a “hold” rating in a research report on Wednesday, June 26th. BidaskClub upgraded Rambus from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. TheStreet raised shares of Rambus from a “d+” rating to a “c-” rating in a report on Friday, April 12th. Finally, Wells Fargo & Co began coverage on shares of Rambus in a report on Tuesday, May 14th. They issued an “outperform” rating and a $11.35 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Rambus has an average rating of “Buy” and a consensus target price of $12.67.

RMBS traded down $0.18 during midday trading on Tuesday, reaching $12.19. 421,400 shares of the company were exchanged, compared to its average volume of 828,810. Rambus has a one year low of $7.17 and a one year high of $13.16. The company’s fifty day moving average price is $12.32 and its 200 day moving average price is $11.35. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.66 and a beta of 0.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.48 and a current ratio of 7.59.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, July 29th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.21). Rambus had a positive return on equity of 2.52% and a negative net margin of 35.34%. The business had revenue of $58.30 million during the quarter, compared to analysts’ expectations of $96.25 million. During the same quarter in the previous year, the firm earned $0.21 EPS. Rambus’s quarterly revenue was down 41.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Rambus will post 0.75 earnings per share for the current fiscal year.

In other news, insider Luc Seraphin sold 18,287 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $11.98, for a total transaction of $219,078.26. Following the transaction, the insider now directly owns 228,697 shares of the company’s stock, valued at $2,739,790.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles Kissner sold 3,723 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $12.08, for a total value of $44,973.84. Following the transaction, the director now directly owns 47,503 shares in the company, valued at $573,836.24. The disclosure for this sale can be found here. In the last three months, insiders sold 23,909 shares of company stock worth $287,532. 1.00% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Rambus by 31.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,640 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 869 shares during the period. Elkfork Partners LLC increased its stake in shares of Rambus by 5.0% during the second quarter. Elkfork Partners LLC now owns 19,470 shares of the semiconductor company’s stock valued at $234,000 after purchasing an additional 924 shares in the last quarter. ETF Managers Group LLC increased its stake in shares of Rambus by 9.8% during the first quarter. ETF Managers Group LLC now owns 10,658 shares of the semiconductor company’s stock valued at $111,000 after purchasing an additional 949 shares in the last quarter. Quantamental Technologies LLC increased its stake in shares of Rambus by 15.9% during the second quarter. Quantamental Technologies LLC now owns 7,768 shares of the semiconductor company’s stock valued at $94,000 after purchasing an additional 1,067 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Rambus by 0.7% during the first quarter. Arizona State Retirement System now owns 168,214 shares of the semiconductor company’s stock valued at $1,758,000 after purchasing an additional 1,124 shares in the last quarter. Institutional investors own 77.46% of the company’s stock.

About Rambus

Rambus Inc provides semiconductor products in the United States, Japan, Europe, Taiwan, China, South Korea, Canada, Singapore, Asia, and internationally. The company operates through three divisions: Memory and Interfaces, Rambus Security, and Emerging Solutions. The Memory and Interfaces division engages in the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces.

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