Rambus Inc. (NASDAQ:RMBS) Short Interest Update

Rambus Inc. (NASDAQ:RMBS) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 2,588,800 shares, a growth of 9.6% from the June 30th total of 2,361,200 shares. Based on an average daily volume of 525,400 shares, the short-interest ratio is currently 4.9 days. Currently, 2.4% of the shares of the stock are short sold.

RMBS has been the topic of a number of recent analyst reports. Wells Fargo & Co initiated coverage on Rambus in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $11.35 target price on the stock. Deutsche Bank lifted their target price on Rambus from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. ValuEngine upgraded Rambus from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Citigroup lifted their target price on Rambus from $13.10 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, BidaskClub upgraded Rambus from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $12.67.

In other Rambus news, Director Charles Kissner sold 3,723 shares of Rambus stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $12.08, for a total value of $44,973.84. Following the transaction, the director now owns 47,503 shares in the company, valued at $573,836.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Luc Seraphin sold 18,287 shares of Rambus 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 completion of the transaction, the insider now owns 228,697 shares in the company, valued at approximately $2,739,790.06. The disclosure for this sale can be found here. Insiders sold 23,909 shares of company stock worth $287,532 in the last 90 days. 1.00% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in RMBS. Nuveen Asset Management LLC acquired a new stake in shares of Rambus during the second quarter valued at about $21,507,000. Norges Bank acquired a new stake in shares of Rambus during the fourth quarter valued at about $13,318,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Rambus during the first quarter valued at about $16,601,000. Morgan Stanley boosted its stake in shares of Rambus by 4,124.8% during the second quarter. Morgan Stanley now owns 1,180,656 shares of the semiconductor company’s stock valued at $14,215,000 after purchasing an additional 1,152,710 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Rambus by 5.3% during the second quarter. Vanguard Group Inc. now owns 11,674,352 shares of the semiconductor company’s stock valued at $140,560,000 after purchasing an additional 590,445 shares in the last quarter. 77.35% of the stock is currently owned by hedge funds and other institutional investors.

Rambus stock traded down $0.11 during midday trading on Thursday, reaching $12.09. The company’s stock had a trading volume of 385,711 shares, compared to its average volume of 839,150. The business has a 50-day moving average price of $12.29 and a 200-day moving average price of $11.28. Rambus has a 52 week low of $7.17 and a 52 week high of $13.16. The stock has a market cap of $1.34 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 1.61 and a beta of 0.70. The company has a current ratio of 7.59, a quick ratio of 7.48 and a debt-to-equity ratio of 0.16.

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

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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