Rambus (NASDAQ:RMBS) Lowered to “Sell” at BidaskClub

BidaskClub downgraded shares of Rambus (NASDAQ:RMBS) from a hold rating to a sell rating in a research report released on Saturday morning, BidAskClub reports.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group upped their price objective on shares of Rambus from $14.00 to $17.00 and gave the stock a hold rating in a research report on Wednesday, June 17th. Deutsche Bank upped their price target on shares of Rambus from $15.00 to $17.00 and gave the stock a buy rating in a research report on Tuesday, May 5th. Roth Capital restated a buy rating on shares of Rambus in a research report on Tuesday, May 5th. Finally, Zacks Investment Research upgraded shares of Rambus from a hold rating to a buy rating and set a $17.00 price target for the company in a research report on Saturday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Rambus has a consensus rating of Buy and a consensus price target of $17.05.

Shares of Rambus stock opened at $14.64 on Friday. The firm has a 50-day simple moving average of $15.23 and a two-hundred day simple moving average of $13.93. The company has a market cap of $1.62 billion, a P/E ratio of -22.52, a price-to-earnings-growth ratio of 1.16 and a beta of 0.99. Rambus has a fifty-two week low of $9.01 and a fifty-two week high of $16.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.35 and a current ratio of 8.48.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, May 4th. The semiconductor company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.30). The firm had revenue of $63.99 million during the quarter, compared to analyst estimates of $72.50 million. Rambus had a negative return on equity of 2.53% and a negative net margin of 29.97%. The company’s revenue was up 32.3% on a year-over-year basis. During the same quarter last year, the company posted $0.23 EPS. Equities research analysts forecast that Rambus will post 0.82 EPS for the current year.

In related news, SVP Jae Kim sold 5,174 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $16.00, for a total transaction of $82,784.00. Following the completion of the sale, the senior vice president now owns 109,231 shares of the company’s stock, valued at approximately $1,747,696. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles Kissner sold 4,129 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $12.05, for a total transaction of $49,754.45. Following the sale, the director now directly owns 13,927 shares of the company’s stock, valued at approximately $167,820.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,636 shares of company stock valued at $193,287. Insiders own 1.10% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers grew its stake in Rambus by 6.6% during the 1st quarter. Rhumbline Advisers now owns 402,568 shares of the semiconductor company’s stock valued at $4,469,000 after acquiring an additional 24,953 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Rambus during the 4th quarter valued at about $294,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Rambus by 48.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,095 shares of the semiconductor company’s stock valued at $623,000 after buying an additional 18,297 shares during the period. AXA grew its stake in shares of Rambus by 11.4% in the 1st quarter. AXA now owns 368,100 shares of the semiconductor company’s stock valued at $4,086,000 after buying an additional 37,700 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Rambus in the 1st quarter valued at approximately $364,000. 81.60% of the stock is owned by institutional investors.

About Rambus

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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Analyst Recommendations for Rambus (NASDAQ:RMBS)

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