Traders Purchase Large Volume of Call Options on Rambus (NASDAQ:RMBS)

Rambus Inc. (NASDAQ:RMBS) saw unusually large options trading activity on Thursday. Stock traders bought 7,147 call options on the company. This represents an increase of 3,021% compared to the average daily volume of 229 call options.

Shares of NASDAQ RMBS opened at $12.53 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.75 and a current ratio of 7.87. Rambus has a 12 month low of $7.17 and a 12 month high of $13.61. The company’s 50 day simple moving average is $11.86. The firm has a market cap of $1.33 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 1.65 and a beta of 0.75.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, April 22nd. The semiconductor company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.36). The business had revenue of $100.20 million for the quarter, compared to analyst estimates of $99.00 million. Rambus had a negative net margin of 25.04% and a positive return on equity of 5.11%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Sell-side analysts forecast that Rambus will post 0.73 earnings per share for the current fiscal year.

A number of research firms recently commented on RMBS. Zacks Investment Research cut shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. Wells Fargo & Co began coverage on shares of Semtech in a research note on Tuesday, May 14th. They set an “outperform” rating and a $48.03 price objective for the company. TheStreet upgraded shares of Wayside Technology Group from a “c” rating to a “b-” rating in a research note on Friday, April 12th. Deutsche Bank set a $137.00 price objective on shares of Verisk Analytics and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Finally, BidaskClub cut shares of ZIX from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 21st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $12.09.

In related news, Director Charles Kissner sold 3,723 shares of Rambus stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $12.08, for a total value of $44,973.84. Following the completion of the sale, the director now directly owns 47,503 shares in the company, valued at approximately $573,836.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Luc Seraphin sold 18,287 shares of Rambus stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $11.98, for a total transaction of $219,078.26. Following the completion of the sale, the insider now owns 228,697 shares of the company’s stock, valued at $2,739,790.06. The disclosure for this sale can be found here. Insiders sold a total of 25,434 shares of company stock valued at $303,078 over the last quarter. 1.00% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the company. California Public Employees Retirement System boosted its holdings in Rambus by 2.0% in the 4th quarter. California Public Employees Retirement System now owns 246,582 shares of the semiconductor company’s stock worth $1,891,000 after buying an additional 4,906 shares during the period. BlackRock Inc. boosted its holdings in Rambus by 1.8% in the 4th quarter. BlackRock Inc. now owns 15,874,559 shares of the semiconductor company’s stock valued at $121,759,000 after purchasing an additional 275,815 shares during the period. Texas Permanent School Fund boosted its holdings in Rambus by 5.1% in the 4th quarter. Texas Permanent School Fund now owns 71,002 shares of the semiconductor company’s stock valued at $545,000 after purchasing an additional 3,460 shares during the period. Great West Life Assurance Co. Can boosted its holdings in Rambus by 9.7% in the 4th quarter. Great West Life Assurance Co. Can now owns 151,079 shares of the semiconductor company’s stock valued at $1,069,000 after purchasing an additional 13,304 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Rambus by 6.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,909,106 shares of the semiconductor company’s stock valued at $45,323,000 after purchasing an additional 333,048 shares during the period. 77.84% of the stock is owned by hedge funds and other institutional investors.

About Rambus

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.

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