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

Key Points

• Rambus, Inc. (NASDAQ:RMBS) has a consensus rating of "Buy" from eight brokerages, with an average price target of $77.71.
• Recent analyst ratings show price target increases, including a boost from $70.00 to $75.00 by Susquehanna and from $80.00 to $90.00 by Rosenblatt Securities.
• Insiders have recently sold shares of Rambus stock, with a total of 9,686 shares worth $718,381 sold in the past 90 days.

Shares of Rambus, Inc. (NASDAQ:RMBS - Get Free Report) have been given a consensus rating of "Buy" by the ten brokerages that are currently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $79.3750.

Several brokerages recently commented on RMBS. Jefferies Financial Group raised their target price on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Rosenblatt Securities raised their target price on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Wall Street Zen downgraded Rambus from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Arete raised Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price target for the company in a report on Thursday. Finally, Susquehanna increased their price target on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday, July 29th.

Insider Transactions at Rambus

In related news, Director Emiko Higashi sold 1,111 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $75.00, for a total value of $83,325.00. Following the completion of the transaction, the director owned 63,371 shares of the company's stock, valued at approximately $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 SEC, which is accessible through this link. Also, Director Necip Sayiner sold 7,500 shares of the 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 completion of the transaction, the director directly owned 38,324 shares of the company's stock, valued at $2,817,963.72. This represents a 16.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,686 shares of company stock valued at $718,381 in the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Rambus

Several hedge funds and other institutional investors have recently bought and sold shares of RMBS. Price T Rowe Associates Inc. MD increased its holdings in Rambus by 60.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company's stock valued at $452,870,000 after buying an additional 3,297,728 shares during the last quarter. Norges Bank bought a new position in Rambus in the second quarter worth about $126,268,000. EdgePoint Investment Group Inc. lifted its holdings in Rambus by 138.4% in the second quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company's stock worth $178,445,000 after acquiring an additional 1,618,133 shares during the last quarter. Nuveen LLC bought a new position in Rambus in the first quarter worth about $57,084,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Rambus by 392.9% in the second quarter. Assenagon Asset Management S.A. now owns 881,562 shares of the semiconductor company's stock worth $56,438,000 after acquiring an additional 702,704 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

Rambus Stock Performance

Shares of NASDAQ:RMBS traded down $7.32 during mid-day trading on Wednesday, hitting $73.77. 2,313,245 shares of the company traded hands, compared to its average volume of 1,165,708. The firm has a market cap of $7.94 billion, a P/E ratio of 34.80 and a beta of 1.28. Rambus has a 52-week low of $37.42 and a 52-week high of $81.89. The firm's 50 day simple moving average is $69.13 and its 200 day simple moving average is $59.31.

Rambus Company Profile

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.