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

Shares of Rambus, Inc. (NASDAQ:RMBS) have been given an average rating of “Moderate Buy” by the ten analysts that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $145.8750.

RMBS has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research note on Wednesday. Glj Research set a $165.00 target price on Rambus in a research note on Tuesday, July 28th. Rosenblatt Securities restated a “buy” rating and set a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. Finally, Benchmark reaffirmed a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $85.46 on Friday. The company has a 50 day simple moving average of $99.07 and a two-hundred day simple moving average of $111.42. Rambus has a fifty-two week low of $72.45 and a fifty-two week high of $174.10. The company has a market capitalization of $9.27 billion, a price-to-earnings ratio of 39.20 and a beta of 1.88.

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

Institutional Trading of Rambus

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Corient Private Wealth LP lifted its stake in shares of Rambus by 29.9% in the second quarter. Corient Private Wealth LP now owns 5,607 shares of the semiconductor company’s stock worth $744,000 after buying an additional 1,289 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Rambus during the second quarter valued at approximately $3,936,000. California State Teachers Retirement System increased its position in shares of Rambus by 13,305.0% during the second quarter. California State Teachers Retirement System now owns 16,648,384 shares of the semiconductor company’s stock valued at $2,209,906,000 after acquiring an additional 16,524,189 shares in the last quarter. HB Wealth Management LLC bought a new stake in shares of Rambus during the second quarter valued at approximately $332,000. Finally, AlphaGrep UK Ltd purchased a new position in Rambus in the 2nd quarter worth approximately $789,000. 88.54% of the stock is currently owned by institutional investors.

Rambus Company Profile

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.