Rambus, Inc. (NASDAQ:RMBS) Given Consensus Rating of “Buy” by Analysts

Rambus, Inc. (NASDAQ:RMBS) has earned a consensus recommendation of “Buy” from the eleven research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $96.6250.

Several research analysts have commented on the company. Rosenblatt Securities lifted their target price on Rambus from $90.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Weiss Ratings lowered Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Robert W. Baird lifted their price target on Rambus from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. Wall Street Zen downgraded Rambus from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Finally, Susquehanna set a $100.00 price target on Rambus and gave the company a “neutral” rating in a research note on Monday, October 6th.

Insider Buying and Selling

In other Rambus news, Director Necip Sayiner sold 7,500 shares of Rambus stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $73.53, for a total transaction of $551,475.00. Following the completion of the transaction, the director owned 38,324 shares in the company, valued at approximately $2,817,963.72. The trade was a 16.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Emiko Higashi sold 1,111 shares of Rambus stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $75.00, for a total value of $83,325.00. Following the transaction, the director owned 63,371 shares of the company’s stock, valued at $4,752,825. This trade represents a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,913 shares of company stock worth $2,474,452 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Rambus

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in Rambus by 60.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company’s stock valued at $452,870,000 after acquiring an additional 3,297,728 shares during the period. Norges Bank bought a new stake in Rambus during the 2nd quarter valued at $126,268,000. EdgePoint Investment Group Inc. raised its holdings in Rambus by 138.4% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company’s stock valued at $178,445,000 after acquiring an additional 1,618,133 shares during the period. Nuveen LLC bought a new stake in Rambus during the 1st quarter valued at $57,084,000. Finally, Assenagon Asset Management S.A. raised its holdings in Rambus by 392.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 881,562 shares of the semiconductor company’s stock valued at $56,438,000 after acquiring an additional 702,704 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Trading Down 3.1%

Shares of RMBS opened at $94.45 on Thursday. The company has a market capitalization of $10.16 billion, a PE ratio of 44.55 and a beta of 1.46. Rambus has a 12 month low of $40.12 and a 12 month high of $109.15. The stock’s 50-day moving average price is $88.90 and its two-hundred day moving average price is $69.12.

Rambus Company Profile

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.