Rambus (RMBS) Lowered to D at TheStreet

TheStreet cut shares of Rambus (NASDAQ:RMBS) from a c- rating to a d rating in a research note published on Tuesday.

Other analysts have also recently issued reports about the stock. Deutsche Bank reduced their target price on shares of Rambus from $16.00 to $13.00 and set a buy rating for the company in a report on Tuesday. Roth Capital reduced their target price on shares of Rambus from $18.00 to $13.00 and set a buy rating for the company in a report on Tuesday, October 23rd. Zacks Investment Research raised shares of Rambus from a hold rating to a buy rating and set a $14.00 target price for the company in a report on Saturday, August 4th. BidaskClub raised shares of Rambus from a sell rating to a hold rating in a report on Monday, July 30th. Finally, ValuEngine cut shares of Rambus from a hold rating to a sell rating in a report on Tuesday, August 14th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Rambus has an average rating of Hold and a consensus price target of $14.80.

Shares of RMBS traded up $0.35 during mid-day trading on Tuesday, hitting $9.06. 18,502 shares of the company traded hands, compared to its average volume of 727,224. The company has a quick ratio of 3.49, a current ratio of 8.02 and a debt-to-equity ratio of 0.18. Rambus has a 1 year low of $7.30 and a 1 year high of $15.50. The stock has a market capitalization of $871.64 million, a price-to-earnings ratio of 20.14, a PEG ratio of 1.11 and a beta of 0.14.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, October 29th. The semiconductor company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.23). Rambus had a negative net margin of 45.18% and a positive return on equity of 7.78%. The business had revenue of $59.80 million for the quarter, compared to analysts’ expectations of $100.00 million. During the same period in the prior year, the company posted $0.19 earnings per share. The firm’s quarterly revenue was down 39.7% on a year-over-year basis. As a group, analysts expect that Rambus will post 0.73 earnings per share for the current year.

In other Rambus news, Vice Chairman Charles Kissner sold 5,896 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 33,347 shares of the company’s stock, valued at $353,144.73. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.20% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in RMBS. NumerixS Investment Technologies Inc increased its stake in shares of Rambus by 471.4% in the second quarter. NumerixS Investment Technologies Inc now owns 8,000 shares of the semiconductor company’s stock worth $104,000 after purchasing an additional 6,600 shares in the last quarter. Advisors Capital Management LLC purchased a new stake in shares of Rambus in the second quarter worth $143,000. Hartford Investment Management Co. purchased a new stake in shares of Rambus in the second quarter worth $168,000. Harvest Management LLC purchased a new stake in shares of Rambus in the second quarter worth $197,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of Rambus in the second quarter worth $201,000. 80.47% of the stock is owned by hedge funds and other 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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