Rambus, Inc. (NASDAQ:RMBS) Receives Average Rating of “Moderate Buy” from Brokerages

Rambus, Inc. (NASDAQ:RMBS) has received a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $134.75.

Several analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Benchmark started coverage on Rambus in a research report on Wednesday. They set a “buy” rating and a $165.00 price objective on the stock. Jefferies Financial Group raised their price objective on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price for the company. in a report on Tuesday, April 28th.

Insider Buying and Selling

In other Rambus news, Director Meera Rao sold 2,972 shares of Rambus stock in a transaction on Friday, April 24th. The shares were sold at an average price of $150.30, for a total transaction of $446,691.60. Following the completion of the transaction, the director directly owned 19,974 shares of the company’s stock, valued at $3,002,092.20. The trade was a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric B. Stang sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the transaction, the director owned 19,218 shares in the company, valued at $2,805,828. This trade represents a 20.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 65,886 shares of company stock valued at $10,171,466 over the last 90 days. 0.75% of the stock is currently owned by insiders.

Institutional Trading of Rambus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMBS. Krilogy Financial LLC grew its holdings in shares of Rambus by 3.8% during the 1st quarter. Krilogy Financial LLC now owns 2,238 shares of the semiconductor company’s stock worth $193,000 after purchasing an additional 81 shares during the period. Oak Grove Capital LLC raised its holdings in Rambus by 1.3% in the 4th quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company’s stock valued at $698,000 after buying an additional 100 shares during the period. Northwestern Mutual Investment Management Company LLC raised its holdings in Rambus by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company’s stock valued at $2,213,000 after buying an additional 103 shares during the period. Balefire LLC lifted its position in Rambus by 3.8% in the first quarter. Balefire LLC now owns 2,932 shares of the semiconductor company’s stock valued at $252,000 after buying an additional 108 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its position in Rambus by 3.3% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock valued at $317,000 after buying an additional 110 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Stock Performance

RMBS opened at $101.44 on Friday. The firm’s fifty day moving average is $131.72 and its 200 day moving average is $114.01. Rambus has a fifty-two week low of $62.81 and a fifty-two week high of $174.10. The stock has a market cap of $10.97 billion, a price-to-earnings ratio of 48.30 and a beta of 1.84.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The company had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. On average, equities research analysts predict that Rambus will post 2.44 earnings per share for the current year.

About Rambus

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.