Penny Herscher Sells 30,000 Shares of Rambus Inc. (RMBS) Stock
Rambus Inc. (NASDAQ:RMBS) Director Penny Herscher sold 30,000 shares of Rambus stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $13.56, for a total transaction of $406,800.00. Following the completion of the transaction, the director now owns 12,874 shares of the company’s stock, valued at approximately $174,571.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Penny Herscher also recently made the following trade(s):
- On Monday, October 3rd, Penny Herscher sold 6,809 shares of Rambus stock. The shares were sold at an average price of $12.43, for a total transaction of $84,635.87.
Rambus Inc. (NASDAQ:RMBS) opened at 13.40 on Wednesday. The stock has a 50 day moving average of $12.45 and a 200 day moving average of $12.67. Rambus Inc. has a one year low of $10.66 and a one year high of $14.50. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 66.01 and a beta of 1.07.
Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, October 24th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The business earned $89.90 million during the quarter, compared to analysts’ expectations of $86.60 million. Rambus had a net margin of 7.36% and a return on equity of 10.40%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the company posted $0.14 earnings per share. Equities research analysts predict that Rambus Inc. will post $0.60 EPS for the current fiscal year.
A number of analysts recently weighed in on RMBS shares. Roth Capital started coverage on shares of Rambus in a report on Wednesday, August 31st. They issued a “buy” rating and a $16.00 price target for the company. Zacks Investment Research raised shares of Rambus from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Wednesday, November 23rd. Jefferies Group reissued a “hold” rating and issued a $13.50 price target (up previously from $12.50) on shares of Rambus in a report on Tuesday, October 25th. Finally, Benchmark Co. reissued a “positive” rating on shares of Rambus in a report on Tuesday, October 4th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $14.50.
A number of large investors have recently bought and sold shares of RMBS. Victory Capital Management Inc. boosted its stake in Rambus by 113.8% in the third quarter. Victory Capital Management Inc. now owns 8,377 shares of the company’s stock worth $105,000 after buying an additional 4,459 shares during the last quarter. Princeton Alpha Management LP bought a new stake in Rambus during the second quarter worth approximately $130,000. Palo Capital Inc. bought a new stake in Rambus during the third quarter worth approximately $130,000. Campbell & CO Investment Adviser LLC bought a new stake in Rambus during the third quarter worth approximately $131,000. Finally, Jefferies Group LLC bought a new stake in Rambus during the second quarter worth approximately $135,000. Institutional investors and hedge funds own 78.59% of the company’s stock.
Rambus Inc 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 and media platforms. Its segments include Memory and Interfaces Division (MID) and Cryptography Research Division (CRD).
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