Brokerages Set Rambus Inc. (NASDAQ:RMBS) Target Price at $12.78

Rambus Inc. (NASDAQ:RMBS) has earned an average rating of “Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $13.34.

Several research analysts have commented on RMBS shares. TheStreet raised Rambus from a “d+” rating to a “c-” rating in a research report on Friday, April 12th. Wells Fargo & Co started coverage on Rambus in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $11.35 price objective on the stock. ValuEngine upgraded Rambus from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded Rambus from a “sell” rating to a “hold” rating in a research note on Wednesday, June 26th. Finally, Deutsche Bank raised their target price on Rambus from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd.

Shares of RMBS traded down $0.10 during trading hours on Friday, hitting $12.29. The stock had a trading volume of 668,748 shares, compared to its average volume of 472,398. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.75 and a current ratio of 7.59. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 1.70 and a beta of 0.70. The stock has a fifty day simple moving average of $12.17. Rambus has a 12-month low of $7.17 and a 12-month high of $13.16.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, July 29th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $58.30 million during the quarter, compared to analysts’ expectations of $96.25 million. During the same period last year, the business posted $0.21 earnings per share. The company’s quarterly revenue was down 41.0% compared to the same quarter last year. As a group, sell-side analysts expect that Rambus will post 0.75 EPS for the current year.

In other news, Director Charles Kissner sold 3,723 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $12.08, for a total transaction of $44,973.84. Following the completion of the sale, the director now directly owns 47,503 shares in the company, valued at $573,836.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Luc Seraphin sold 18,287 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $11.98, for a total value of $219,078.26. Following the sale, the insider now owns 228,697 shares of the company’s stock, valued at $2,739,790.06. The disclosure for this sale can be found here. Insiders have sold 23,909 shares of company stock valued at $287,532 over the last 90 days. Insiders own 1.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in Rambus by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,909,106 shares of the semiconductor company’s stock worth $45,323,000 after purchasing an additional 333,048 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Rambus by 6.6% during the first quarter. JPMorgan Chase & Co. now owns 5,221,859 shares of the semiconductor company’s stock valued at $54,569,000 after buying an additional 324,147 shares during the last quarter. Norges Bank bought a new stake in shares of Rambus during the fourth quarter valued at approximately $13,318,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Rambus during the first quarter valued at approximately $16,601,000. Finally, Geode Capital Management LLC raised its holdings in shares of Rambus by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 1,565,605 shares of the semiconductor company’s stock valued at $12,007,000 after buying an additional 87,048 shares during the last quarter. Institutional investors own 77.78% of the company’s stock.

Rambus Company Profile

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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