Rambus, Inc. (NASDAQ:RMBS) Stock Has Consensus Price Target of $145.88 According to Brokerages

Shares of Rambus, Inc. (NASDAQ:RMBS) have been assigned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $145.88.

A number of brokerages recently commented on RMBS. Glj Research set a $165.00 target price on Rambus in a report on Tuesday, July 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a report on Wednesday, September 2nd. Rosenblatt Securities restated a “buy” rating and issued a $165.00 price target on shares of Rambus in a research report on Tuesday, July 28th. Finally, Benchmark restated a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th.

Rambus Trading Up 4.4%

Shares of RMBS stock opened at $111.97 on Thursday. Rambus has a 12 month low of $77.89 and a 12 month high of $174.10. The stock has a market cap of $12.14 billion, a P/E ratio of 51.36 and a beta of 1.85. The company has a 50 day simple moving average of $93.32 and a two-hundred day simple moving average of $111.23.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.05. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The business had revenue of $207.39 million for the quarter, compared to analysts’ expectations of $199.30 million. During the same quarter last year, the company posted $0.53 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. As a group, equities analysts forecast that Rambus will post 2.52 earnings per share for the current year.

Hedge Funds Weigh In On Rambus

A number of hedge funds have recently modified their holdings of RMBS. State of Wyoming bought a new stake in Rambus during the 2nd quarter valued at approximately $1,825,000. Handelsbanken Fonder AB boosted its stake in Rambus by 28.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 150,857 shares of the semiconductor company’s stock worth $20,025,000 after purchasing an additional 33,060 shares during the period. BlackRock Inc. bought a new position in Rambus in the 2nd quarter worth approximately $1,853,645,000. Engineers Gate Manager LP purchased a new stake in Rambus during the 2nd quarter valued at approximately $4,764,000. Finally, E Fund Management Co. Ltd. purchased a new stake in Rambus during the 2nd quarter valued at approximately $1,539,000. 88.54% of the stock is currently owned by institutional investors.

Rambus Company Profile

Rambus Inc is a semiconductor technology company that develops and licenses high-performance chip interfaces and related intellectual property. Its technologies are designed to improve the speed, capacity, reliability and security of data transfer in memory systems and other electronic devices.

The company offers memory interface products for applications such as data centers, servers and advanced computing systems. Its portfolio includes solutions for DDR memory, high-bandwidth memory and other emerging memory architectures, as well as interface and connectivity technologies intended to support increasingly data-intensive workloads.