Rambus (RMBS) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of Rambus (NASDAQ:RMBS) from a hold rating to a buy rating in a research note issued to investors on Friday morning, BidAskClub reports.

Several other research firms have also commented on RMBS. TheStreet upgraded shares of Rambus from a d+ rating to a c- rating in a research report on Friday, April 12th. Zacks Investment Research lowered shares of Rambus from a buy rating to a hold rating in a research report on Wednesday, April 3rd. Finally, ValuEngine upgraded shares of Rambus from a sell rating to a hold rating in a research report on Monday, February 4th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Rambus has an average rating of Buy and a consensus price target of $13.00.

Shares of NASDAQ RMBS opened at $11.89 on Friday. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.51 and a beta of 0.78. Rambus has a one year low of $7.17 and a one year high of $14.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 7.52 and a current ratio of 7.62.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, January 28th. The semiconductor company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.21 by $0.07. The company had revenue of $102.00 million for the quarter, compared to analyst estimates of $102.00 million. Rambus had a negative net margin of 28.74% and a positive return on equity of 8.05%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. Analysts forecast that Rambus will post 0.75 EPS for the current year.

In related news, SVP Jae Kim sold 21,215 shares of the business’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $9.33, for a total value of $197,935.95. Following the sale, the senior vice president now directly owns 103,068 shares in the company, valued at approximately $961,624.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Luc Seraphin sold 37,825 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $10.26, for a total transaction of $388,084.50. Following the completion of the sale, the insider now owns 258,479 shares in the company, valued at $2,651,994.54. The disclosure for this sale can be found here. Insiders sold a total of 81,540 shares of company stock worth $820,595 over the last quarter. Insiders own 1.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors Inc. raised its stake in Rambus by 4.3% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 25,786 shares of the semiconductor company’s stock valued at $198,000 after purchasing an additional 1,073 shares during the last quarter. ETF Managers Group LLC raised its stake in Rambus by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 9,709 shares of the semiconductor company’s stock valued at $74,000 after purchasing an additional 1,323 shares during the last quarter. Comerica Bank raised its stake in Rambus by 1.4% in the 4th quarter. Comerica Bank now owns 105,262 shares of the semiconductor company’s stock valued at $894,000 after purchasing an additional 1,454 shares during the last quarter. Federated Investors Inc. PA raised its stake in Rambus by 57.1% in the 3rd quarter. Federated Investors Inc. PA now owns 4,091 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 1,487 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Rambus by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 77,072 shares of the semiconductor company’s stock valued at $591,000 after purchasing an additional 1,695 shares during the last quarter. Institutional investors and hedge funds own 76.47% 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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