Key Points
- Rambus director Emiko Higashi sold 5,000 shares on May 26 at an average price of $157.57, totaling about $787,850. After the sale, she still owned 59,519 shares worth roughly $9.38 million.
- Rambus beat quarterly earnings expectations, reporting EPS of $0.63 versus the $0.61 consensus, while revenue of $180.19 million was slightly above estimates.
- Wall Street remains cautiously bullish on RMBS, with a consensus rating of “Moderate Buy” and an average price target of $130.43, even as analyst views remain mixed.
Rambus, Inc. (NASDAQ:RMBS - Get Free Report) Director Emiko Higashi sold 5,000 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $157.57, for a total transaction of $787,850.00. Following the completion of the transaction, the director owned 59,519 shares in the company, valued at approximately $9,378,408.83. The trade was a 7.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Rambus Price Performance
Shares of Rambus stock opened at $148.66 on Thursday. Rambus, Inc. has a 1 year low of $52.12 and a 1 year high of $161.80. The firm's 50-day moving average is $116.42 and its 200 day moving average is $105.36. The stock has a market cap of $16.08 billion, a price-to-earnings ratio of 70.79 and a beta of 1.79.
Rambus (NASDAQ:RMBS - Get Free Report) last issued its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. Rambus had a return on equity of 17.41% and a net margin of 31.90%.The business had revenue of $180.19 million during the quarter, compared to analyst estimates of $179.94 million. On average, equities analysts expect that Rambus, Inc. will post 2.44 EPS for the current fiscal year.
Institutional Investors Weigh In On Rambus
Several hedge funds and other institutional investors have recently made changes to their positions in RMBS. Acumen Wealth Advisors LLC purchased a new stake in shares of Rambus during the 4th quarter valued at about $25,000. Torren Management LLC purchased a new stake in shares of Rambus during the 4th quarter valued at about $26,000. Spire Wealth Management increased its position in shares of Rambus by 199.0% during the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 201 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Rambus during the 4th quarter valued at about $28,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Rambus during the 1st quarter valued at about $44,000. Hedge funds and other institutional investors own 88.54% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on RMBS shares. Evercore reissued an "outperform" rating and issued a $172.00 target price on shares of Rambus in a research report on Tuesday, April 28th. Rosenblatt Securities boosted their target price on Rambus from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Susquehanna decreased their target price on Rambus from $100.00 to $90.00 and set a "neutral" rating for the company in a research report on Tuesday, February 3rd. Weiss Ratings lowered Rambus from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, March 10th. Finally, Jefferies Financial Group boosted their target price on Rambus from $120.00 to $145.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Rambus currently has a consensus rating of "Moderate Buy" and an average price target of $130.43.
View Our Latest Research Report on RMBS
About Rambus
(
Get Free Report)
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.
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