Insider Selling: Rambus, Inc. (RMBS) Director Sells 6,437 Shares of Stock
Rambus, Inc. (NASDAQ:RMBS) Director Penny Herscher sold 6,437 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $13.44, for a total value of $86,513.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Rambus, Inc. (RMBS) traded up 0.07% during mid-day trading on Wednesday, reaching $13.70. The company had a trading volume of 766,213 shares. Rambus, Inc. has a 12-month low of $11.30 and a 12-month high of $14.39. The stock has a market capitalization of $1.50 billion, a P/E ratio of 228.33 and a beta of 0.82. The stock has a 50 day moving average price of $13.07 and a 200-day moving average price of $12.61.
Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, July 24th. The semiconductor company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $94.70 million for the quarter, compared to analyst estimates of $93.00 million. Rambus had a return on equity of 9.28% and a net margin of 1.76%. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 EPS. Equities analysts anticipate that Rambus, Inc. will post $0.65 EPS for the current fiscal year.
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Several analysts recently weighed in on RMBS shares. Zacks Investment Research raised Rambus from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Saturday, August 26th. Loop Capital reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Rambus in a research note on Tuesday, August 22nd. TheStreet lowered Rambus from a “b-” rating to a “c+” rating in a research note on Friday, June 16th. BidaskClub raised Rambus from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $14.00 price objective (up from $13.50) on shares of Rambus in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Rambus has an average rating of “Hold” and a consensus price target of $14.75.
A number of hedge funds and other institutional investors have recently made changes to their positions in RMBS. LS Investment Advisors LLC increased its stake in Rambus by 88.5% in the 1st quarter. LS Investment Advisors LLC now owns 7,648 shares of the semiconductor company’s stock worth $100,000 after acquiring an additional 3,590 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Rambus by 9.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,734 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 822 shares during the last quarter. Shelton Capital Management bought a new position in Rambus in the 2nd quarter worth about $126,000. Trexquant Investment LP bought a new position in Rambus in the 2nd quarter worth about $137,000. Finally, Petrus Trust Company LTA bought a new position in Rambus in the 2nd quarter worth about $138,000. Institutional investors and hedge funds own 76.47% of the company’s stock.
Rambus Company Profile
Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.
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