Rambus Inc. (NASDAQ:RMBS) Given Average Recommendation of “Buy” by Analysts

Shares of Rambus Inc. (NASDAQ:RMBS) have earned a consensus recommendation of “Buy” from the eight research firms that are currently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $76.71.

A number of equities research analysts have recently commented on RMBS shares. Rosenblatt Securities upped their target price on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on Rambus in a research note on Monday, February 3rd. Susquehanna increased their price objective on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, February 4th. Wells Fargo & Company boosted their target price on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Finally, StockNews.com cut Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th.

Insiders Place Their Bets

In other Rambus news, COO Xianzhi Sean Fan sold 52,327 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the sale, the chief operating officer now directly owns 93,841 shares in the company, valued at approximately $6,383,064.82. The trade was a 35.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Necip Sayiner sold 4,625 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the sale, the director now directly owns 42,000 shares in the company, valued at $2,803,080. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,952 shares of company stock worth $5,501,055. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rambus

Several hedge funds have recently added to or reduced their stakes in RMBS. UMB Bank n.a. grew its position in shares of Rambus by 554.9% in the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 455 shares during the last quarter. Orion Capital Management LLC acquired a new stake in Rambus during the fourth quarter worth approximately $37,000. Skandinaviska Enskilda Banken AB publ raised its holdings in Rambus by 927.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 640 shares during the last quarter. Quarry LP lifted its stake in shares of Rambus by 40.3% during the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 264 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Rambus by 379.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock worth $60,000 after purchasing an additional 891 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Stock Down 12.4 %

NASDAQ:RMBS opened at $46.15 on Friday. Rambus has a 52-week low of $37.43 and a 52-week high of $69.15. The stock’s 50 day moving average price is $58.36 and its 200 day moving average price is $53.62. The company has a market capitalization of $4.96 billion, a PE ratio of 27.80 and a beta of 1.25.

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.