TheStreet Upgrades Rambus (NASDAQ:RMBS) to B-

TheStreet upgraded shares of Rambus (NASDAQ:RMBSGet Rating) from a c rating to a b- rating in a report published on Tuesday morning, TheStreetRatingsTable reports.

Several other research firms also recently weighed in on RMBS. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Rambus from $30.00 to $32.00 in a report on Tuesday, May 3rd. Susquehanna reiterated a buy rating and issued a $33.00 target price on shares of Rambus in a report on Tuesday, May 3rd. Susquehanna Bancshares reiterated a buy rating and issued a $33.00 target price on shares of Rambus in a report on Tuesday, May 3rd. Finally, StockNews.com upgraded shares of Rambus from a hold rating to a buy rating in a report on Thursday, May 19th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $32.20.

Rambus Price Performance

Shares of NASDAQ RMBS opened at $26.88 on Tuesday. The company has a 50 day simple moving average of $23.13 and a 200-day simple moving average of $25.53. The company has a market capitalization of $2.96 billion, a P/E ratio of -127.99 and a beta of 1.22. Rambus has a 1 year low of $20.00 and a 1 year high of $33.75.

Rambus (NASDAQ:RMBSGet Rating) last announced its quarterly earnings results on Monday, August 1st. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The firm had revenue of $121.13 million for the quarter, compared to analyst estimates of $137.20 million. Rambus had a positive return on equity of 18.24% and a negative net margin of 5.45%. The firm’s quarterly revenue was up 42.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 EPS. As a group, research analysts expect that Rambus will post 1.41 EPS for the current year.

Insider Buying and Selling at Rambus

In other Rambus news, Director Charles Kissner sold 9,674 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $24.78, for a total value of $239,721.72. Following the completion of the transaction, the director now owns 18,747 shares of the company’s stock, valued at approximately $464,550.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rambus

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Rambus by 0.3% during the 1st quarter. BlackRock Inc. now owns 17,199,468 shares of the semiconductor company’s stock worth $548,492,000 after purchasing an additional 47,422 shares during the last quarter. Vanguard Group Inc. raised its stake in Rambus by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 12,030,880 shares of the semiconductor company’s stock worth $383,665,000 after acquiring an additional 168,940 shares in the last quarter. State Street Corp raised its stake in Rambus by 2.2% during the 4th quarter. State Street Corp now owns 4,834,486 shares of the semiconductor company’s stock worth $142,086,000 after acquiring an additional 104,072 shares in the last quarter. Neuberger Berman Group LLC raised its stake in Rambus by 19.9% during the 1st quarter. Neuberger Berman Group LLC now owns 4,220,649 shares of the semiconductor company’s stock worth $134,646,000 after acquiring an additional 701,583 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Rambus by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,718,856 shares of the semiconductor company’s stock worth $118,597,000 after acquiring an additional 87,609 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Rambus Company Profile

(Get Rating)

Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5, DDR4 and DDR3 memory interface chips to module manufacturers and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced applications; and physical interface and digital controller IP to offer industry-leading, integrated memory and interconnect subsystems.

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