Rambus, Inc. (NASDAQ:RMBS – Get Free Report) saw unusually large options trading on Monday. Investors acquired 5,958 call options on the stock. This is an increase of 100% compared to the typical daily volume of 2,986 call options.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Robert W. Baird cut shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research report on Tuesday, April 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Rosenblatt Securities lifted their price target on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Evercore reissued an “outperform” rating and set a $172.00 target price on shares of Rambus in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.43.
Rambus Stock Performance
Rambus (NASDAQ:RMBS – Get Free Report) last released its quarterly earnings data 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 net margin of 31.90% and a return on equity of 17.41%. The company had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $179.94 million. On average, analysts anticipate that Rambus will post 2.44 EPS for the current fiscal year.
Insider Activity
In other Rambus news, Director Meera Rao sold 2,972 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $150.30, for a total value of $446,691.60. Following the completion of the transaction, the director owned 19,974 shares in the company, valued at approximately $3,002,092.20. This represents a 12.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total value of $5,751,174.66. Following the completion of the transaction, the executive vice president directly owned 168,358 shares of the company’s stock, valued at $25,538,225.02. The trade was a 18.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 79,850 shares of company stock valued at $11,649,796 over the last 90 days. Company insiders own 0.75% of the company’s stock.
Institutional Investors Weigh In On Rambus
Hedge funds have recently made changes to their positions in the business. Krilogy Financial LLC boosted its position in shares of Rambus by 3.8% during the 1st quarter. Krilogy Financial LLC now owns 2,238 shares of the semiconductor company’s stock valued at $193,000 after purchasing an additional 81 shares in the last quarter. Oak Grove Capital LLC raised its stake in shares of Rambus by 1.3% during the 4th quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company’s stock worth $698,000 after purchasing an additional 100 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Rambus by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company’s stock valued at $2,213,000 after purchasing an additional 103 shares during the last quarter. Balefire LLC boosted its position in Rambus by 3.8% during the first quarter. Balefire LLC now owns 2,932 shares of the semiconductor company’s stock worth $252,000 after purchasing an additional 108 shares during the period. Finally, Ashton Thomas Private Wealth LLC boosted its holdings in Rambus by 3.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock valued at $317,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.
Rambus Company Profile
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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