Shares are trading at $14.71 slightly over $13.62, the 50 day moving average and impressively higher than the 200 day moving average of $12.76. The 50 day moving average was up by +8.03% and the 200 day average was up $1.95. Trading volume for Rambus, Inc. was 1,702K on Tuesday. Trading volume was up 99.77% over the stocks average daily volume.
Short traders are feeling a little more bearish on shares of the company as inferred by the change in short interest. The stock had a rise in short interest of 2.88% between September 29, 2017 and October 13, 2017. Short shares increased from 6,123,994 to 6,300,589 over that timeframe. The short-interest ratio increased to 11.0 and the short interest percentage is 0.06% as of October 13.
Rambus, Inc. (NASDAQ:RMBS) has been the object of insider selling activity recently. David A. Shrigley, Director disclosed the sale of 5,000 shares of (RMBS). The shares were purchased at an average price of $14.06. The Director now owns $745,813 of the stock according to the SEC filing. Ellis Thomas Fisher, Director sold $22,024 worth of shares at an average price of $12.94 on September 25th. Fisher now owns $298,746 of stock per an SEC filing yesterday.
Additionally, here are a few investment firms who have increased or decreased their stake in (RMBS). As of the end of the quarter Ls Investment Advisors, LLC had bought a total of 1,199 shares growing its stake by 15.7%. The value of the total investment in Rambus, Inc. increased from $87,000 to $118,000 a change of $31,000 since the last quarter. As of quarter end Nationwide Fund Advisors had acquired 13,713 shares growing its holdings by 18.4%. The value of the company’s investment in Rambus, Inc. went from $852,000 to $1,178,000 increasing 38.3% for the reporting period.
As of the end of the quarter Hanson & Doremus Investment Management had sold a total of 1,916 shares trimming its position 14.1%. The value of the investment in (RMBS) increased from $155,000 to $156,000 a change of 0.6% quarter to quarter. As of quarter end Aperio Group, LLC had bought 2,268 shares growing its position 6.7%. The value of the investment in Rambus, Inc. increased from $389,000 to $485,000 a change of $96,000 quarter over quarter.
On September 22, 2017 the stock rating was set at “Neutral” by JP Morgan which was a cut from the previous “Neutral” rating. On October 24 Loop Capital held the stock rating at “Buy” but raised the price target from $16.00 to $19.00.
The most current P/E ratio is 245.17 and the market cap of the company is 1.61B. As of the last earnings report the EPS was $0.06 and is expected to be $0.69 for the current year with 109,277,000 shares currently outstanding. Next quarter’s EPS is forecasted at $0.17 and the next full year EPS is anticipated to be $0.74.
Rambus Inc. (Rambus), launched on February 3, 1997, produces hardware and software technologies. The Company offers chips, customizable Internet protocol (IP) cores, licenses, software, services and others. The Business’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting. It collaborates with application-specific integrated circuit (ASIC) and System-on-Chip (SoC) designers, foundries, IP developers, processor companies, electronic design automation (EDA) companies and validation laboratories. Its inventions are integrated into a range of devices and systems, powering and securing various applications, including Big Data, Internet of Things, mobile, consumer and media platforms..