Insider Selling: Rambus, Inc. (NASDAQ:RMBS)
Director Sells 1,703 Shares of Stock
July 10th, 2017 • 0 comments • Filed Under • by ABMN Staff
Rambus, Inc. (NASDAQ:RMBS) Director Ellis Thomas Fisher sold 1,703 shares of the stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $12.50, for a total value of $21,287.50. Following the completion of the sale, the director now directly owns 24,789 shares of the company’s stock, valued at $309,862.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Rambus, Inc. ( NASDAQ RMBS) traded up 2.17% during midday trading on Monday, hitting $12.72. The stock had a trading volume of 3,048,574 shares. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 181.71 and a beta of 0.87. The firm has a 50-day moving average price of $12.00 and a 200-day moving average price of $12.86. Rambus, Inc. has a 1-year low of $11.30 and a 1-year high of $14.50.
Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, April 24th. The semiconductor company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $97.40 million for the quarter, compared to analyst estimates of $95.52 million. Rambus had a return on equity of 9.70% and a net margin of 2.20%. The firm’s revenue was up 34.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 EPS. On average, equities research analysts anticipate that Rambus, Inc. will post $0.62 earnings per share for the current year.
Several equities research analysts have recently weighed in on the company. BidaskClub cut Rambus from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 20th. TheStreet cut Rambus from a “b-” rating to a “c+” rating in a research report on Friday, June 16th. Jefferies Group LLC reissued a “hold” rating and issued a $13.50 price objective on shares of Rambus in a research report on Tuesday, April 25th. Finally, Zacks Investment Research cut Rambus from a “hold” rating to a “sell” rating in a research report on Saturday, April 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $15.00.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Paloma Partners Management Co acquired a new position in Rambus during the first quarter worth $1,026,000. State Street Corp raised its position in Rambus by 8.6% in the first quarter. State Street Corp now owns 2,964,695 shares of the semiconductor company’s stock worth $38,956,000 after buying an additional 233,572 shares during the last quarter. Bank of America Corp DE raised its position in Rambus by 58.0% in the first quarter. Bank of America Corp DE now owns 375,698 shares of the semiconductor company’s stock worth $4,937,000 after buying an additional 137,978 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Rambus by 8.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 446,331 shares of the semiconductor company’s stock worth $5,865,000 after buying an additional 36,097 shares during the last quarter. Finally, KCG Holdings Inc. raised its position in Rambus by 18.6% in the first quarter. KCG Holdings Inc. now owns 72,435 shares of the semiconductor company’s stock worth $952,000 after buying an additional 11,335 shares during the last quarter. 79.25% of the stock is currently owned by institutional investors and hedge funds.
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