Rambus Inc. (NASDAQ:RMBS) Short Interest Update

Rambus Inc. (NASDAQ:RMBS) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 2,588,800 shares, an increase of 9.6% from the June 30th total of 2,361,200 shares. Based on an average trading volume of 525,400 shares, the days-to-cover ratio is currently 4.9 days. Currently, 2.4% of the company’s shares are short sold.

A number of analysts have recently commented on the company. BidaskClub raised Rambus from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. ValuEngine raised Rambus from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank upped their price target on Rambus from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Citigroup increased their target price on Rambus from $13.10 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Wells Fargo & Co started coverage on Rambus in a research note on Tuesday, May 14th. They set an “outperform” rating and a $11.35 target price for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $12.67.

In other news, insider Luc Seraphin sold 18,287 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $11.98, for a total value of $219,078.26. Following the completion of the sale, the insider now directly owns 228,697 shares of the company’s stock, valued at approximately $2,739,790.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles Kissner sold 3,723 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $573,836.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,909 shares of company stock valued at $287,532. 1.00% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc boosted its holdings in shares of Rambus by 7.1% in the 4th quarter. Legal & General Group Plc now owns 271,166 shares of the semiconductor company’s stock valued at $2,082,000 after buying an additional 18,022 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Rambus by 22.7% during the 4th quarter. Squarepoint Ops LLC now owns 32,599 shares of the semiconductor company’s stock valued at $250,000 after purchasing an additional 6,034 shares during the last quarter. Texas Permanent School Fund lifted its holdings in Rambus by 4.3% during the 1st quarter. Texas Permanent School Fund now owns 74,038 shares of the semiconductor company’s stock valued at $774,000 after purchasing an additional 3,036 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Rambus by 573.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 554,217 shares of the semiconductor company’s stock valued at $5,792,000 after purchasing an additional 471,886 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Rambus by 1,319.1% during the 1st 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. 77.35% of the stock is owned by institutional investors.

Shares of RMBS traded down $0.11 during mid-day trading on Thursday, hitting $12.09. 385,711 shares of the company’s stock were exchanged, compared to its average volume of 839,150. The company has a market cap of $1.34 billion, a PE ratio of 15.91, a P/E/G ratio of 1.61 and a beta of 0.70. Rambus has a 52 week low of $7.17 and a 52 week high of $13.16. The company has a 50-day simple moving average of $12.29 and a 200 day simple moving average of $11.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.59 and a quick ratio of 7.48.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.21). The business had revenue of $58.30 million for the quarter, compared to the consensus estimate of $96.25 million. Rambus had a positive return on equity of 2.52% and a negative net margin of 35.34%. Rambus’s revenue was down 41.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 earnings per share. On average, analysts anticipate that Rambus will post 0.75 earnings per share for the current year.

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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