Wells Fargo & Co Raises Rambus (NASDAQ:RMBS) Price Target to $16.00

Rambus (NASDAQ:RMBS) had its target price raised by Wells Fargo & Co from $15.00 to $16.00 in a report issued on Wednesday morning, BenzingaRatingsTable reports. Wells Fargo & Co currently has an outperform rating on the semiconductor company’s stock.

Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Rambus from a sell rating to a hold rating in a report on Wednesday, June 26th. Citigroup raised their price target on shares of Rambus from $13.10 to $15.00 and gave the company a buy rating in a report on Tuesday, July 30th. BidaskClub downgraded shares of Rambus from a buy rating to a hold rating in a report on Saturday, August 24th. Finally, ValuEngine raised shares of Rambus from a hold rating to a buy rating in a report on Saturday, September 14th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $13.60.

Shares of NASDAQ RMBS opened at $13.25 on Wednesday. The firm’s 50-day moving average price is $12.47 and its 200-day moving average price is $11.70. The company has a quick ratio of 7.48, a current ratio of 7.59 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.51 billion, a PE ratio of 17.43, a PEG ratio of 1.82 and a beta of 0.67. Rambus has a 52-week low of $7.17 and a 52-week high of $14.29.



Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, July 29th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.21). The company had revenue of $58.30 million for the quarter, compared to analysts’ expectations of $96.25 million. Rambus had a negative net margin of 35.34% and a positive return on equity of 2.52%. The business’s revenue was down 41.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 EPS. As a group, equities research analysts anticipate that Rambus will post 0.75 EPS for the current fiscal year.

In other news, SVP Jae Kim sold 2,297 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $13.00, for a total value of $29,861.00. Following the transaction, the senior vice president now owns 134,025 shares in the company, valued at approximately $1,742,325. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Luc Seraphin sold 29,855 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $13.99, for a total transaction of $417,671.45. Following the completion of the transaction, the chief executive officer now owns 231,097 shares in the company, valued at approximately $3,233,047.03. The disclosure for this sale can be found here. Insiders sold a total of 59,061 shares of company stock worth $778,084 in the last quarter. Company insiders own 1.00% of the company’s stock.

Several large investors have recently modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of Rambus by 0.9% in the 2nd quarter. Royal Bank of Canada now owns 265,607 shares of the semiconductor company’s stock worth $3,198,000 after purchasing an additional 2,344 shares during the period. United Services Automobile Association lifted its stake in shares of Rambus by 78.4% in the 2nd quarter. United Services Automobile Association now owns 29,189 shares of the semiconductor company’s stock worth $351,000 after purchasing an additional 12,827 shares during the period. Nuveen Asset Management LLC bought a new position in shares of Rambus in the 2nd quarter worth approximately $21,507,000. UBS Asset Management Americas Inc. lifted its stake in shares of Rambus by 9.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 72,845 shares of the semiconductor company’s stock worth $877,000 after purchasing an additional 6,159 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Rambus by 4,124.8% in the 2nd quarter. Morgan Stanley now owns 1,180,656 shares of the semiconductor company’s stock worth $14,215,000 after purchasing an additional 1,152,710 shares during the period. Hedge funds and other institutional investors own 78.77% 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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