Rambus’ (RMBS) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Rambus (NASDAQ:RMBS) in a report released on Tuesday morning,Benzinga reports. Rosenblatt Securities currently has a $130.00 price objective on the semiconductor company’s stock.

RMBS has been the topic of a number of other research reports. Susquehanna set a $100.00 price target on shares of Rambus and gave the company a “neutral” rating in a report on Monday, October 6th. Evercore ISI lifted their target price on Rambus from $81.00 to $114.00 and gave the company an “outperform” rating in a report on Tuesday, September 16th. Arete raised Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Thursday, August 28th. Robert W. Baird raised their price objective on Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Finally, Weiss Ratings raised Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $103.38.

Rambus Price Performance

Shares of NASDAQ RMBS opened at $107.75 on Tuesday. The company has a 50-day simple moving average of $93.06 and a 200-day simple moving average of $71.78. The company has a market cap of $11.59 billion, a PE ratio of 51.07 and a beta of 1.46. Rambus has a 12 month low of $40.12 and a 12 month high of $114.55.

Insiders Place Their Bets

In other news, Director Necip Sayiner sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $85.63, for a total transaction of $642,225.00. Following the completion of the sale, the director owned 30,824 shares of the company’s stock, valued at approximately $2,639,459.12. This trade represents a 19.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Emiko Higashi sold 1,075 shares of Rambus stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total transaction of $83,581.25. Following the completion of the sale, the director owned 62,296 shares of the company’s stock, valued at approximately $4,843,514. This trade represents a 1.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,913 shares of company stock valued at $2,474,452 over the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Trading of Rambus

Institutional investors and hedge funds have recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. bought a new position in shares of Rambus in the 3rd quarter worth about $25,000. Abound Wealth Management acquired a new stake in Rambus during the third quarter worth about $28,000. True Wealth Design LLC lifted its holdings in Rambus by 162.5% in the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 260 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Rambus by 105.8% in the second quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 238 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in Rambus in the first quarter valued at approximately $25,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

About Rambus

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.