November 29, 2016 - By Louis Casey
Company insider, Penny Herscher, director of Rambus Inc unloaded a total of 30,000 shares of the company, based on an average price of $13.6 for every share. Right now, she has in hand a total of 45,456 shares or 0.04% of the Company’s market capitalization.
Out of 7 analysts covering Rambus Inc (NASDAQ:RMBS), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. $16 is the highest target while $11.50 is the lowest. The $14 average target is 3.40% above today’s ($13.54) stock price. Rambus Inc has been the topic of 12 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Rambus Inc. (NASDAQ:RMBS) earned “Buy” rating by Roth Capital on Thursday, September 1. The company was downgraded on Thursday, August 27 by Zacks. JP Morgan maintained Rambus Inc. (NASDAQ:RMBS) on Tuesday, October 20 with “Neutral” rating. The firm has “Sell” rating by Zacks given on Saturday, August 22. Sidoti upgraded the stock to “Buy” rating in Thursday, September 17 report. On Friday, June 3 the stock rating was initiated by Wunderlich with “Buy”. The firm has “Buy” rating by Citigroup given on Wednesday, October 21. The stock of Rambus Inc. (NASDAQ:RMBS) earned “Neutral” rating by Sidoti on Monday, March 7. The stock has “Buy” rating given by Topeka Capital Markets on Tuesday, October 20.
Insitutional Activity: The institutional sentiment increased to 1.62 in Q2 2016. Its up 0.87, from 0.75 in 2016Q1. The ratio improved, as 16 funds sold all Rambus Inc. shares owned while 57 reduced positions. 17 funds bought stakes while 38 increased positions. They now own 81.16 million shares or 4.21% less from 84.73 million shares in 2016Q1.
Millennium Mgmt Ltd last reported 24,047 shares in the company. Morgan Stanley accumulated 94,900 shares or 0% of the stock. The New York-based Jpmorgan Chase & Communications has invested 0% in Rambus Inc. (NASDAQ:RMBS). Pnc Svcs, a Pennsylvania-based fund reported 700 shares. State Bank Of New York Mellon holds 1.60 million shares or 0.01% of its portfolio. Comerica National Bank & Trust, a Michigan-based fund reported 109,913 shares. Moreover, Blackrock Group Inc has 0% invested in Rambus Inc. (NASDAQ:RMBS) for 283,365 shares. Gerstein Fisher reported 58,337 shares or 0.09% of all its holdings. Tci Wealth reported 180 shares or 0% of all its holdings. Moreover, Schwab Charles has 0.01% invested in Rambus Inc. (NASDAQ:RMBS) for 382,760 shares. One Trading L P accumulated 0% or 1,700 shares. State Board Of Administration Of Florida Retirement Systems has invested 0% of its portfolio in Rambus Inc. (NASDAQ:RMBS). Moreover, Envestnet Asset Mgmt has 0% invested in Rambus Inc. (NASDAQ:RMBS) for 2,879 shares. Pacad Investment Ltd owns 1,500 shares or 0% of their US portfolio. Moreover, Aqr Cap Mngmt Lc has 0% invested in Rambus Inc. (NASDAQ:RMBS) for 24,021 shares.
Insider Transactions: Since June 6, 2016, the stock had 0 buys, and 15 insider sales for $1.46 million net activity. Kim Jae had sold 1,733 shares worth $24,401. Shares for $50,147 were sold by STARK LAURA on Thursday, October 6. RISHI SATISH sold $26,980 worth of Rambus Inc. (NASDAQ:RMBS) on Tuesday, July 19. 5,000 shares were sold by SHRIGLEY DAVID A, worth $68,950. $84,611 worth of Rambus Inc. (NASDAQ:RMBS) shares were sold by HERSCHER PENNY. 13,618 Rambus Inc. (NASDAQ:RMBS) shares with value of $172,882 were sold by STANG ERIC B. The insider BLACK RONALD D sold $399,033.
The stock decreased 1.24% or $0.17 during the last trading session, hitting $13.54. About 479,115 shares traded hands. Rambus Inc. (NASDAQ:RMBS) has risen 11.53% since April 26, 2016 and is uptrending. It has outperformed by 6.27% the S&P500.
Rambus Inc. produces semiconductor and intellectual property products, spanning memory and interfaces to security, sensors and lighting. The company has a market cap of $1.51 billion. The Company’s products are integrated into devices and systems, powering and securing diverse applications, including big data and media platforms. It has a 65.72 P/E ratio. The Company’s divisions include Memory and Interfaces Division (MID) and Cryptography Research Division (CRD).
According to Zacks Investment Research, “Rambus, Inc. designs, develops, licenses and markets high-speed chip-to-chip interface technology to enhance the performance and cost-effectiveness of computers, consumer electronics and other electronic systems. The company licenses semiconductor companies to manufacture and sell memory and logic integrated circuits incorporating Rambus interface technology and markets its solution to systems companies to encourage them to design Rambus interface technology into their products.”
Analysts await Rambus Inc. (NASDAQ:RMBS) to report earnings on January, 23. They expect $0.13 earnings per share, down 18.75% or $0.03 from last year’s $0.16 per share. RMBS’s profit will be $14.50M for 26.04 P/E if the $0.13 EPS becomes a reality. After $0.12 actual earnings per share reported by Rambus Inc. for the previous quarter, Wall Street now forecasts 8.33% EPS growth.
Another recent and important Rambus Inc. (NASDAQ:RMBS) news was published by Streetinsider.com which published an article titled: “Form 4 RAMBUS INC For: Nov 28 Filed by: HERSCHER PENNY” on November 29, 2016.
Rambus Inc., incorporated on February 3, 1997, produces semiconductor and intellectual property (IP) products, spanning memory and interfaces to security, sensors and lighting. The Company’s products are integrated into devices and systems, powering and securing diverse applications, including big data, Internet of things (IoT), mobile, consumer and media platforms. The Company’s divisions include Memory and Interfaces Division (MID) and Cryptography Research Division (CRD). The Firm has over four operational units, including MID, CRD, emerging solutions division (ESD), and lighting and display technologies (LDT). MID focuses on the design, development and licensing of technology that is related to memory and interfaces. CRD focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments. ESD includes its computational sensing and imaging group along with its development efforts in the area of emerging technologies. LDT focuses on the design, development and licensing of technologies for lighting. The Company’s inventions and technology solutions are offered to its clients through patent licenses, technology licenses, software licenses and the shipment of products.
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By Louis Casey