Rambus (NASDAQ:RMBS) Upgraded to Hold at Zacks Research

Rambus (NASDAQ:RMBS) was upgraded by analysts at Zacks Research to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

RMBS has been the topic of a number of other research reports. Susquehanna set a $100.00 price target on shares of Rambus and gave the stock a “neutral” rating in a report on Monday, October 6th. Weiss Ratings upgraded Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Cfra Research downgraded Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. William Blair began coverage on shares of Rambus in a research note on Thursday, January 22nd. They issued an “outperform” rating on the stock. Finally, Evercore ISI increased their price target on shares of Rambus from $114.00 to $126.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $108.14.

Rambus Trading Up 1.3%

RMBS stock opened at $115.71 on Monday. Rambus has a 12 month low of $40.12 and a 12 month high of $135.75. The firm has a market capitalization of $12.46 billion, a P/E ratio of 54.84 and a beta of 1.51. The firm has a 50 day moving average of $98.75 and a 200-day moving average of $91.21.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, October 27th. The semiconductor company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.18). Rambus had a net margin of 33.72% and a return on equity of 17.73%. The firm had revenue of $178.51 million for the quarter, compared to analysts’ expectations of $175.60 million. During the same quarter last year, the firm earned $0.45 earnings per share. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. Sell-side analysts predict that Rambus will post 1.89 EPS for the current year.

Insider Buying and Selling at Rambus

In related news, Director Eric B. Stang sold 4,000 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $111.78, for a total value of $447,120.00. Following the sale, the director directly owned 20,394 shares of the company’s stock, valued at $2,279,641.32. This represents a 16.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Rambus

A number of hedge funds have recently modified their holdings of RMBS. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Rambus in the 3rd quarter worth about $25,000. Abound Wealth Management purchased a new stake in Rambus in the third quarter worth about $28,000. Spire Wealth Management grew its holdings in Rambus by 199.0% in the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 201 shares during the period. True Wealth Design LLC increased its stake in shares of Rambus by 162.5% during the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 260 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Rambus by 126.7% during the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 247 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

About Rambus

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.