Rambus (NASDAQ:RMBS) Stock Moved Up to "Buy" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Rambus from “Hold” to “Buy,” adding to generally positive analyst sentiment. MarketBeat reports a “Moderate Buy” consensus rating and an average price target of $147.
• Recent analyst views include buy or outperform ratings from Rosenblatt Securities, Benchmark, Zacks Research and Evercore, while Susquehanna maintained a neutral rating with a $103 target.
• Rambus exceeded quarterly expectations, reporting $0.84 in earnings per share versus the $0.79 consensus and revenue of $218.29 million versus $213.21 million. Institutional investors own approximately 88.54% of the stock.

Rambus (NASDAQ:RMBS - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other research analysts have also weighed in on the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $165.00 price target on shares of Rambus in a research report on Tuesday. Benchmark restated a "buy" rating on shares of Rambus in a report on Tuesday, July 28th. Zacks Research raised shares of Rambus from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Susquehanna reiterated a "neutral" rating and issued a $103.00 price target (up from $100.00) on shares of Rambus in a research note on Tuesday. Finally, Evercore reissued an "outperform" rating and issued a $150.00 price objective on shares of Rambus in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Rambus has an average rating of "Moderate Buy" and a consensus target price of $147.00.

Rambus Price Performance

RMBS opened at $84.65 on Friday. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of 34.84 and a beta of 1.85. The business's 50-day moving average price is $93.82 and its two-hundred day moving average price is $107.89. Rambus has a 1 year low of $77.89 and a 1 year high of $174.10.

Rambus (NASDAQ:RMBS - Get Free Report) last released its quarterly earnings results on Monday, October 26th. The semiconductor company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.05. Rambus had a return on equity of 19.43% and a net margin of 33.40%. The firm had revenue of $218.29 million during the quarter, compared to the consensus estimate of $213.21 million. Sell-side analysts anticipate that Rambus will post 2.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rambus

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Rambus during the second quarter valued at about $1,853,645,000. EdgePoint Investment Group Inc. lifted its stake in Rambus by 38.5% in the 1st quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company's stock worth $167,564,000 after purchasing an additional 541,056 shares in the last quarter. Bank of America Corp DE purchased a new stake in Rambus in the 2nd quarter worth approximately $161,774,000. Swedbank AB boosted its holdings in Rambus by 14.7% in the 1st quarter. Swedbank AB now owns 1,563,000 shares of the semiconductor company's stock valued at $134,465,000 after purchasing an additional 200,000 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Rambus in the 2nd quarter valued at $109,940,000. 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 intellectual property for memory and data-processing systems. Its technologies are designed to support higher bandwidth, improved performance, reliability and security across data centers, artificial intelligence and high-performance computing platforms, as well as other computing and communications applications.

The company offers memory interface products and intellectual property, including solutions for DDR5 and other advanced memory architectures, high-bandwidth memory, memory modules and associated system components.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.