Rambus, Inc. (NASDAQ:RMBS) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Rambus, Inc. (NASDAQ:RMBS) received a consensus rating of "Buy" from eight analysts, with an average twelve-month price target of $77.71.
• Insider trading activity saw Director Necip Sayiner sell 7,500 shares at an average price of $73.53, resulting in a 16.37% decrease in his position.
• Institutional investors hold a significant majority of Rambus shares, with hedge funds and other institutions owning 88.54% of the company's stock.

Rambus, Inc. (NASDAQ:RMBS - Get Free Report) has received an average rating of "Buy" from the ten brokerages that are currently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $79.3750.

RMBS has been the topic of a number of analyst reports. Susquehanna lifted their price objective on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday, July 29th. Jefferies Financial Group lifted their price objective on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Arete raised shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 target price for the company in a report on Thursday. Arete Research raised shares of Rambus to a "strong-buy" rating in a report on Thursday. Finally, Rosenblatt Securities increased their target price on shares of Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, July 29th.

Rambus Stock Performance

RMBS traded down $7.32 during trading on Wednesday, reaching $73.77. The company's stock had a trading volume of 2,313,245 shares, compared to its average volume of 1,165,708. Rambus has a 52-week low of $37.42 and a 52-week high of $81.89. The company's fifty day moving average price is $69.13 and its 200-day moving average price is $59.31. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 34.80 and a beta of 1.28.

Insider Transactions at Rambus

In other Rambus news, Director Emiko Higashi sold 1,111 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $75.00, for a total value of $83,325.00. Following the sale, the director owned 63,371 shares of the company's stock, valued at $4,752,825. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Necip Sayiner sold 7,500 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00. Following the completion of the sale, the director directly owned 38,324 shares in the company, valued at $2,817,963.72. This trade represents a 16.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,686 shares of company stock valued at $718,381. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rambus

A number of hedge funds and other institutional investors have recently modified their holdings of RMBS. Banque Cantonale Vaudoise purchased a new stake in shares of Rambus during the first quarter worth about $25,000. Tsfg LLC purchased a new stake in shares of Rambus during the first quarter worth about $26,000. True Wealth Design LLC grew its holdings in shares of Rambus by 162.5% during the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company's stock worth $27,000 after buying an additional 260 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Rambus by 105.8% during the second quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company's stock worth $30,000 after buying an additional 238 shares in the last quarter. Finally, Orion Capital Management LLC purchased a new stake in shares of Rambus during the fourth quarter worth about $37,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

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.