Rambus (NASDAQ:RMBS) Downgraded by BidaskClub to “Hold”

Rambus (NASDAQ:RMBS) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, BidAskClub reports.

RMBS has been the subject of several other research reports. Roth Capital upped their price target on Rambus from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research cut Rambus from a “hold” rating to a “sell” rating in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $18.06.

Rambus stock opened at $17.46 on Thursday. Rambus has a 12 month low of $9.01 and a 12 month high of $18.54. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.46 and a quick ratio of 8.32. The business has a 50 day simple moving average of $16.88 and a 200-day simple moving average of $14.94. The stock has a market capitalization of $1.99 billion, a PE ratio of -42.59, a price-to-earnings-growth ratio of 1.01 and a beta of 0.87.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, November 2nd. The semiconductor company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.38). Rambus had a negative return on equity of 2.97% and a negative net margin of 18.91%. The company had revenue of $56.90 million for the quarter, compared to analysts’ expectations of $103.00 million. During the same quarter last year, the company earned $0.23 EPS. Rambus’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities research analysts anticipate that Rambus will post 0.94 EPS for the current year.

Rambus declared that its board has initiated a stock buyback program on Monday, November 2nd that allows the company to repurchase 20,000,000 shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

In other Rambus news, SVP Jae Kim sold 2,469 shares of the company’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $15.39, for a total value of $37,997.91. Following the sale, the senior vice president now owns 109,113 shares of the company’s stock, valued at $1,679,249.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Luc Seraphin sold 2,745 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $15.39, for a total value of $42,245.55. Following the completion of the sale, the chief executive officer now directly owns 209,841 shares in the company, valued at approximately $3,229,452.99. The disclosure for this sale can be found here. Insiders sold 34,313 shares of company stock valued at $549,392 in the last quarter. 1.10% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of RMBS. Private Advisor Group LLC acquired a new stake in Rambus in the second quarter valued at $30,000. Macquarie Group Ltd. acquired a new stake in shares of Rambus during the second quarter valued at $41,000. Marshall Wace LLP acquired a new stake in shares of Rambus during the first quarter valued at $46,000. Nisa Investment Advisors LLC boosted its stake in shares of Rambus by 256.0% during the third quarter. Nisa Investment Advisors LLC now owns 4,450 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Advisor Group Holdings Inc. boosted its stake in shares of Rambus by 8.7% during the second quarter. Advisor Group Holdings Inc. now owns 8,794 shares of the semiconductor company’s stock valued at $134,000 after acquiring an additional 702 shares during the last quarter. 82.40% of the stock is currently owned by institutional investors.

Rambus Company Profile

Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, Asia, and internationally. It offers DDR memory interface chips to module manufacturers and OEMs; physical interface and companion digital controller IPs for SoC designers; and industry-standard interface solutions, such as 28G, 32G, 56G, and 112G SerDes, as well as PCIe 5.0.

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