Rambus, Inc. (NASDAQ:RMBS – Get Free Report)’s share price was down 6.1% on Monday . The company traded as low as $104.01 and last traded at $105.2210. Approximately 490,576 shares changed hands during trading, a decline of 82% from the average daily volume of 2,672,134 shares. The stock had previously closed at $112.10.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on RMBS shares. Robert W. Baird lowered shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target for the company. in a research report on Tuesday, April 28th. Rosenblatt Securities lifted their price objective 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Evercore restated an “outperform” rating and issued a $172.00 target price on shares of Rambus in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company raised their price target on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. One research 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $130.43.
Read Our Latest Analysis on Rambus
Rambus Price Performance
Rambus (NASDAQ:RMBS – Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (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 firm had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. Analysts expect that Rambus, Inc. will post 2.44 EPS for the current year.
Insider Activity at Rambus
In other Rambus news, Director Meera Rao sold 2,972 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly owned 19,974 shares of the company’s stock, valued at $3,002,092.20. The trade was a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eric B. 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 transaction of $730,000.00. Following the transaction, the director directly owned 19,218 shares in the company, valued at $2,805,828. The trade was a 20.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 74,424 shares of company stock worth $11,179,633. 0.75% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of RMBS. NewEdge Advisors LLC boosted its holdings in Rambus by 22,321.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company’s stock valued at $488,000 after purchasing an additional 9,375 shares during the period. Empowered Funds LLC increased its holdings in shares of Rambus by 34.1% during the 1st quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock worth $1,178,000 after purchasing an additional 5,783 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Rambus by 6.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock valued at $16,025,000 after buying an additional 19,120 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Rambus during the first quarter valued at about $218,000. Finally, Quantbot Technologies LP bought a new stake in shares of Rambus in the second quarter valued at about $102,000. Institutional investors own 88.54% of the company’s stock.
About Rambus
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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