Rambus Inc. (NASDAQ:RMBS) traded up 1.5% during mid-day trading on Monday following a stronger than expected earnings report, Market Beat Ratings reports. The company traded as high as $11.66 and last traded at $11.57, with a volume of 777,170 shares. The stock had previously closed at $11.40.

The company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.03. The business had revenue of $76.80 million for the quarter, compared to analysts’ expectations of $73.72 million. During the same period in the previous year, the firm posted $0.05 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year.

Several research analysts have recently commented on the company. Zacks Investment Research raised Rambus from a “sell” rating to a “hold” rating in a report on Thursday, October 29th. Topeka Capital Markets cut their price objective on Rambus from $15.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, October 20th. Jefferies Group cut their price objective on Rambus from $14.50 to $11.50 and set a “hold” rating for the company in a report on Tuesday, October 20th. JPMorgan Chase & Co. cut their price objective on Rambus from $14.50 to $12.50 and set a “neutral” rating for the company in a report on Tuesday, October 20th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Rambus in a report on Wednesday, October 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.30.

In other Rambus news, Director Eric B. Stang sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $10.35, for a total value of $82,800.00. Following the completion of the sale, the director now owns 13,618 shares of the company’s stock, valued at $140,946.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jae Kim sold 14,232 shares of the company’s stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $10.68, for a total value of $151,997.76. Following the completion of the sale, the senior vice president now directly owns 19,895 shares of the company’s stock, valued at approximately $212,478.60. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Rambus stock. Creative Planning boosted its stake in Rambus Inc. (NASDAQ:RMBS) by 68.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,600 shares of the company’s stock after buying an additional 13,597 shares during the period. Creative Planning’s holdings in Rambus were worth $389,000 at the end of the most recent reporting period.

The stock has a 50 day moving average of $11.48 and a 200 day moving average of $12.08. The stock has a market capitalization of $1.31 billion and a price-to-earnings ratio of 6.46.

Rambus Inc. is a technology solutions company. The Company’s technology portfolio addresses the evolving power, performance and security requirements of the mobile, cloud computing and connected device markets. It offers solutions in memory, chip interfaces and architectures, security and advanced light emitting diode (NASDAQ:RMBS) lighting. The Company has four operational units: Memory and Interfaces Division (MID), which focuses on the design, development and licensing of technology that is related to memory and interfaces; Cryptography Research Division (CRD), which focuses on the design, development and licensing of technologies for chip and system security and anti-counterfeiting; Emerging Solutions Division (ESD), which includes the Company’s computational sensing and imaging group along with its development efforts in the area of emerging technologies, and Lighting and Display Technologies (LDT), which focuses on the design, development and licensing of technologies for lighting.

12 Month Chart for NASDAQ:RMBS

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