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

Shares of Rambus, Inc. (NASDAQ:RMBS) have been assigned a consensus rating of “Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $96.6250.

Several research firms have recently issued reports on RMBS. Susquehanna set a $100.00 target price on shares of Rambus and gave the company a “neutral” rating in a report on Monday, October 6th. Robert W. Baird lifted their price objective 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 report on Sunday, August 10th. Arete Research upgraded Rambus to a “strong-buy” rating in a report on Thursday, August 28th. Finally, Jefferies Financial Group lifted their price target on Rambus from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th.

Rambus Price Performance

Shares of NASDAQ RMBS opened at $97.22 on Thursday. Rambus has a 1 year low of $40.12 and a 1 year high of $109.15. The firm has a 50-day moving average of $86.64 and a 200 day moving average of $67.47. The stock has a market cap of $10.46 billion, a P/E ratio of 45.86 and a beta of 1.46.

Insider Activity

In other news, Director Meera Rao sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $71.72, for a total transaction of $215,160.00. Following the sale, the director owned 29,914 shares in the company, valued at $2,145,432.08. This represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Desmond Lynch sold 9,074 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $91.70, for a total transaction of $832,085.80. Following the sale, the chief financial officer directly owned 64,430 shares of the company’s stock, valued at $5,908,231. This trade represents a 12.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,913 shares of company stock worth $2,474,452. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new stake in Rambus in the 1st quarter worth about $25,000. Tsfg LLC purchased a new stake in shares of Rambus during the 1st quarter valued at about $26,000. True Wealth Design LLC grew its stake in shares of 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 period. Abound Wealth Management purchased a new position in shares of Rambus during the third quarter valued at approximately $28,000. Finally, Bessemer Group Inc. raised its holdings in shares of Rambus by 105.8% during the second quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 238 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

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.