Wall Street Zen upgraded shares of Rambus (NASDAQ:RMBS – Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.
Several other research analysts have also recently issued reports on RMBS. Glj Research set a $165.00 target price on Rambus in a research report on Tuesday, July 28th. Rosenblatt Securities reissued a “buy” rating and issued a $165.00 price target on shares of Rambus in a research report on Tuesday, October 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research note on Wednesday, September 2nd. Evercore restated an “outperform” rating and set a $150.00 price objective on shares of Rambus in a research note on Tuesday, October 27th. Finally, UBS Group set a $165.00 price objective on shares of Rambus in a report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.
Check Out Our Latest Stock Analysis on RMBS
Rambus Stock Performance
RMBS stock opened at $84.01 on Friday. The company has a market capitalization of $9.00 billion, a P/E ratio of 36.41 and a beta of 1.85. Rambus has a 52-week low of $77.89 and a 52-week high of $174.10. The business has a 50-day simple moving average of $93.67 and a two-hundred day simple moving average of $107.83.
Rambus (NASDAQ:RMBS – Get Free Report) last issued its quarterly earnings data on Monday, October 26th. The semiconductor company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.05. The firm had revenue of $218.29 million during the quarter, compared to analyst estimates of $213.21 million. Rambus had a return on equity of 19.43% and a net margin of 33.40%. As a group, sell-side analysts forecast that Rambus will post 2.64 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC boosted its position in Rambus by 658.6% during the second quarter. Hsbc Holdings PLC now owns 48,013 shares of the semiconductor company’s stock worth $6,110,000 after purchasing an additional 41,684 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Rambus in the second quarter valued at approximately $4,764,000. State of Wyoming bought a new stake in shares of Rambus in the second quarter valued at approximately $1,825,000. Handelsbanken Fonder AB raised its position in shares of Rambus by 28.1% in the second quarter. Handelsbanken Fonder AB now owns 150,857 shares of the semiconductor company’s stock valued at $20,025,000 after purchasing an additional 33,060 shares during the period. Finally, BlackRock Inc. purchased a new stake in shares of Rambus during the 2nd quarter valued at approximately $1,853,645,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.
About Rambus
Rambus Inc is a semiconductor technology company that develops and licenses intellectual property for memory and data-processing systems. Its technologies are designed to support higher bandwidth, improved performance, reliability and security across data centers, artificial intelligence and high-performance computing platforms, as well as other computing and communications applications.
The company offers memory interface products and intellectual property, including solutions for DDR5 and other advanced memory architectures, high-bandwidth memory, memory modules and associated system components.
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