Key Points
- Insider sale: Rambus director Eric Stang sold 5,000 shares on June 1 at an average price of $146, totaling about $730,000. After the sale, he still held 19,218 shares, a 20.65% reduction in his position.
- Stock performance: Rambus shares were up 13.1% and opened at $166.78, close to their 52-week high of $167.71. The stock has climbed well above its 50-day and 200-day moving averages.
- Business and analyst view: Rambus beat quarterly earnings estimates, reporting $0.63 EPS versus $0.61 expected, while revenue came in slightly above forecasts. Wall Street remains generally positive, with an average Moderate Buy rating and a consensus target price of $130.43.
Rambus, Inc. (NASDAQ:RMBS - Get Free Report) Director Eric Stang sold 5,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $146.00, for a total value of $730,000.00. Following the transaction, the director owned 19,218 shares of the company's stock, valued at $2,805,828. The trade was a 20.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Rambus Stock Up 13.1%
Shares of NASDAQ RMBS opened at $166.78 on Wednesday. Rambus, Inc. has a 52 week low of $54.05 and a 52 week high of $167.71. The business has a 50-day simple moving average of $119.61 and a two-hundred day simple moving average of $106.19. The company has a market cap of $18.04 billion, a P/E ratio of 79.42 and a beta of 1.84.
Rambus (NASDAQ:RMBS - Get Free Report) last issued its earnings results on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $179.94 million. Equities research analysts anticipate that Rambus, Inc. will post 2.44 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages have commented on RMBS. Wells Fargo & Company raised their target price on Rambus from $115.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. Robert W. Baird downgraded Rambus from an "outperform" rating to a "neutral" rating and set a $120.00 target price for the company. in a research note on Tuesday, April 28th. Rosenblatt Securities raised their target price on Rambus from $130.00 to $150.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Jefferies Financial Group raised their target price on Rambus from $120.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Finally, Susquehanna cut their target price on Rambus from $100.00 to $90.00 and set a "neutral" rating for the company in a research note on Tuesday, February 3rd. One investment 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $130.43.
Read Our Latest Analysis on RMBS
Institutional Trading of Rambus
A number of large investors have recently modified their holdings of the business. Segall Bryant & Hamill LLC boosted its position in shares of Rambus by 45.2% during the 1st quarter. Segall Bryant & Hamill LLC now owns 157,450 shares of the semiconductor company's stock valued at $13,545,000 after acquiring an additional 49,021 shares during the last quarter. Argent Capital Management LLC boosted its position in shares of Rambus by 56.2% during the 1st quarter. Argent Capital Management LLC now owns 10,001 shares of the semiconductor company's stock valued at $860,000 after acquiring an additional 3,598 shares during the last quarter. Western Wealth Management LLC bought a new stake in shares of Rambus during the 1st quarter valued at about $44,000. Cim Investment Management Inc. bought a new stake in shares of Rambus during the 1st quarter valued at about $350,000. Finally, Bank of America Corp DE boosted its position in shares of Rambus by 9.0% during the 1st quarter. Bank of America Corp DE now owns 1,361,570 shares of the semiconductor company's stock valued at $117,136,000 after acquiring an additional 111,928 shares during the last quarter. Institutional investors own 88.54% of the company's stock.
Rambus Company Profile
(
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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