Rambus Inc. (NASDAQ:RMBS) Short Interest Down 49.2% in March

Rambus Inc. (NASDAQ:RMBS) was the target of a significant decrease in short interest in March. As of March 29th, there was short interest totalling 2,487,134 shares, a decrease of 49.2% from the March 15th total of 4,896,025 shares. Based on an average trading volume of 942,661 shares, the days-to-cover ratio is currently 2.6 days. Currently, 2.3% of the company’s stock are short sold.

Several analysts have recently commented on RMBS shares. Deutsche Bank increased their target price on shares of Rambus from $12.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. BidaskClub upgraded shares of Rambus from a “sell” rating to a “hold” rating in a report on Saturday, March 16th. Zacks Investment Research downgraded shares of Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. ValuEngine upgraded shares of Rambus from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, TheStreet upgraded shares of Rambus from a “d+” rating to a “c-” rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $13.25.

In other Rambus news, SVP Jae Kim sold 21,215 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $9.33, for a total transaction of $197,935.95. Following the transaction, the senior vice president now owns 103,068 shares in the company, valued at $961,624.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David A. Shrigley sold 20,000 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $10.45, for a total transaction of $209,000.00. Following the transaction, the director now owns 42,155 shares in the company, valued at approximately $440,519.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,540 shares of company stock worth $820,595. 1.00% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in Rambus by 1,319.1% during the first quarter. Versant Capital Management Inc now owns 2,824 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 2,625 shares during the last quarter. Federated Investors Inc. PA lifted its position in Rambus by 57.1% during the third quarter. Federated Investors Inc. PA now owns 4,091 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 1,487 shares during the last quarter. Quantamental Technologies LLC bought a new stake in Rambus during the first quarter valued at approximately $70,000. ETF Managers Group LLC lifted its position in Rambus by 15.8% during the fourth quarter. ETF Managers Group LLC now owns 9,709 shares of the semiconductor company’s stock valued at $74,000 after purchasing an additional 1,323 shares during the last quarter. Finally, CWM Advisors LLC bought a new stake in Rambus during the fourth quarter valued at approximately $77,000. Institutional investors own 76.45% of the company’s stock.

NASDAQ:RMBS traded up $0.31 on Friday, reaching $11.70. 1,145,948 shares of the company’s stock were exchanged, compared to its average volume of 1,099,979. The company has a quick ratio of 7.75, a current ratio of 7.87 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $1.29 billion, a PE ratio of 15.39, a P/E/G ratio of 1.60 and a beta of 0.82. Rambus has a 52 week low of $7.17 and a 52 week high of $14.30.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, April 22nd. The semiconductor company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.36). Rambus had a positive return on equity of 5.11% and a negative net margin of 25.04%. The business had revenue of $100.20 million for the quarter, compared to the consensus estimate of $99.00 million. During the same quarter in the prior year, the business earned $0.21 EPS. Rambus’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts anticipate that Rambus will post 0.72 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This article was published by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this article on another website, it was stolen and reposted in violation of international trademark and copyright laws. The correct version of this article can be accessed at https://www.baseballdailydigest.com/news/2019/05/04/short-interest-in-rambus-inc-rmbs-drops-by-49-2.html.

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.

Featured Article: Bull Market

Receive News & Ratings for Rambus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rambus and related companies with MarketBeat.com's FREE daily email newsletter.