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

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

Several other brokerages also recently weighed in on RMBS. Deutsche Bank lifted their target price on shares of Rambus from $15.00 to $17.00 and gave the company a buy rating in a report on Tuesday, May 5th. Jefferies Financial Group lifted their target price on shares of Rambus from $14.00 to $17.00 and gave the company a hold rating in a report on Wednesday, June 17th. Zacks Investment Research raised shares of Rambus from a hold rating to a buy rating and set a $17.00 target price on the stock in a report on Saturday, May 9th. Finally, Roth Capital reaffirmed a buy rating on shares of Rambus in a report on Tuesday, May 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $17.05.

Shares of Rambus stock opened at $14.64 on Friday. Rambus has a 1 year low of $9.01 and a 1 year 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. The company has a market capitalization of $1.62 billion, a P/E ratio of -22.52, a PEG ratio of 1.16 and a beta of 0.99. The company’s fifty day moving average is $15.23 and its two-hundred day moving average is $13.93.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, May 4th. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.30). Rambus had a negative return on equity of 2.53% and a negative net margin of 29.97%. The business had revenue of $63.99 million for the quarter, compared to analysts’ expectations of $72.50 million. During the same period in the previous year, the business posted $0.23 earnings per share. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. As a group, equities analysts expect that Rambus will post 0.82 earnings per share for the current year.

In related news, CEO Luc Seraphin sold 4,333 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $14.02, for a total value of $60,748.66. Following the completion of the sale, the chief executive officer now owns 209,160 shares in the company, valued at $2,932,423.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles Kissner sold 4,129 shares of the firm’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 completion of the sale, the director now owns 13,927 shares of the company’s stock, valued at approximately $167,820.35. The disclosure for this sale can be found here. Insiders sold 13,636 shares of company stock valued at $193,287 in the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers raised its position in Rambus by 6.6% during the first quarter. Rhumbline Advisers now owns 402,568 shares of the semiconductor company’s stock worth $4,469,000 after acquiring an additional 24,953 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Rambus during the fourth quarter worth about $294,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Rambus by 48.4% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,095 shares of the semiconductor company’s stock worth $623,000 after acquiring an additional 18,297 shares during the last quarter. AXA raised its position in Rambus by 11.4% during the first quarter. AXA now owns 368,100 shares of the semiconductor company’s stock worth $4,086,000 after acquiring an additional 37,700 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Rambus during the first quarter worth about $364,000. Institutional investors own 81.60% of the company’s stock.

Rambus Company Profile

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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