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

Shares of Rambus Inc. (NASDAQ:RMBS) have received a consensus recommendation of “Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $76.71.

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

Rambus Stock Performance

Shares of NASDAQ:RMBS opened at $53.70 on Friday. The stock’s 50-day simple moving average is $59.37 and its two-hundred day simple moving average is $53.42. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of 32.35 and a beta of 1.25. Rambus has a 52-week low of $37.43 and a 52-week high of $69.15.

Insiders Place Their Bets

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total transaction of $537,900.00. Following the completion of the sale, the chief executive officer now directly owns 316,931 shares of the company’s stock, valued at $17,047,718.49. This trade represents a 3.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 owns 93,841 shares in the company, valued at approximately $6,383,064.82. The trade was a 35.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,952 shares of company stock worth $4,992,255. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC grew its holdings in Rambus by 69.5% during the 3rd quarter. Cerity Partners LLC now owns 16,615 shares of the semiconductor company’s stock valued at $701,000 after buying an additional 6,814 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Rambus during the 3rd quarter valued at approximately $1,252,000. Bridgewater Associates LP grew its holdings in shares of Rambus by 1,150.7% in the third quarter. Bridgewater Associates LP now owns 61,148 shares of the semiconductor company’s stock valued at $2,582,000 after purchasing an additional 56,259 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Rambus by 20.6% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 184,100 shares of the semiconductor company’s stock worth $7,773,000 after purchasing an additional 31,490 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Rambus by 1.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 244,425 shares of the semiconductor company’s stock valued at $10,320,000 after purchasing an additional 4,178 shares in the last quarter. Institutional investors 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.