Rambus (NASDAQ:RMBS) Upgraded to "Buy" at Arete

Key Points

• Arete has upgraded Rambus from a "neutral" to a "buy" rating, setting a price target of $91.00, which indicates a potential upside of 21.25% from its previous close.
• Multiple analysts have reaffirmed their positive outlook on Rambus, with a consensus rating of "Buy" and an average price target of $79.38 among eight analysts.
• Recent insider selling activity included a director selling 7,500 shares at an average price of $73.53, highlighting some changes in stock ownership dynamics.

Arete upgraded shares of Rambus (NASDAQ:RMBS - Free Report) from a neutral rating to a buy rating in a research note published on Thursday, Marketbeat Ratings reports. Arete currently has $91.00 price target on the semiconductor company's stock.

A number of other research firms have also commented on RMBS. Wall Street Zen lowered shares of Rambus from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Rosenblatt Securities raised their price objective on shares of Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Susquehanna raised their price objective on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research report on Tuesday, July 29th. Finally, Jefferies Financial Group raised their price objective on shares of Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to MarketBeat, Rambus presently has a consensus rating of "Buy" and an average price target of $79.38.

Rambus Stock Down 9.0%

RMBS traded down $7.32 during trading hours on Thursday, hitting $73.77. The stock had a trading volume of 2,313,245 shares, compared to its average volume of 1,185,864. Rambus has a 1 year low of $37.42 and a 1 year high of $81.89. The company's fifty day simple moving average is $69.13 and its 200 day simple moving average is $59.29. The stock has a market cap of $7.94 billion, a PE ratio of 34.80 and a beta of 1.38.

Insider Transactions at Rambus

In other news, Director Emiko Higashi sold 1,075 shares of Rambus stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total transaction of $83,581.25. Following the completion of the sale, the director owned 62,296 shares in the company, valued at approximately $4,843,514. This trade represents a 1.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Necip Sayiner sold 7,500 shares of Rambus stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $73.53, for a total value of $551,475.00. Following the sale, the director owned 38,324 shares of the company's stock, valued at approximately $2,817,963.72. This trade represents a 16.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,686 shares of company stock valued at $718,381. Corporate insiders own 1.00% of the company's stock.

Institutional Trading of Rambus

A number of hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in Rambus by 60.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company's stock worth $452,870,000 after buying an additional 3,297,728 shares during the last quarter. EdgePoint Investment Group Inc. lifted its position in Rambus by 138.4% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company's stock worth $178,445,000 after buying an additional 1,618,133 shares during the last quarter. Geode Capital Management LLC lifted its position in Rambus by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,687,691 shares of the semiconductor company's stock worth $172,086,000 after buying an additional 35,744 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Rambus by 13.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,019,504 shares of the semiconductor company's stock worth $129,289,000 after buying an additional 235,253 shares during the last quarter. Finally, Norges Bank bought a new stake in Rambus in the 2nd quarter worth approximately $126,268,000. Institutional investors own 88.54% of the company's stock.

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.