Rambus Inc. (NASDAQ:RMBS) Receives Consensus Rating of "Buy" from Brokerages

Rambus Inc. (NASDAQ:RMBS - Get Free Report) has been given an average recommendation of "Buy" by the seven research firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $75.00.

RMBS has been the topic of several research analyst reports. Evercore ISI started coverage on shares of Rambus in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Susquehanna upped their target price on shares of Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research report on Tuesday, February 4th. Rosenblatt Securities reissued a "buy" rating and issued a $80.00 target price on shares of Rambus in a research note on Tuesday, April 29th. Finally, Robert W. Baird set a $90.00 price target on Rambus in a research note on Monday, February 3rd.

Rambus Price Performance

NASDAQ:RMBS traded down $1.02 on Monday, reaching $54.63. 1,153,216 shares of the company's stock were exchanged, compared to its average volume of 1,294,626. The stock has a fifty day simple moving average of $51.13 and a 200-day simple moving average of $55.42. Rambus has a 52 week low of $37.43 and a 52 week high of $69.15. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 32.91 and a beta of 1.24.

Insider Activity

In related news, Director Steven Laub sold 3,653 shares of Rambus stock in a transaction on Monday, May 19th. The shares were sold at an average price of $55.56, for a total value of $202,960.68. Following the transaction, the director now directly owns 10,904 shares of the company's stock, valued at $605,826.24. The trade was a 25.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $58.64, for a total transaction of $586,400.00. Following the sale, the chief executive officer now directly owns 306,931 shares of the company's stock, valued at $17,998,433.84. The trade was a 3.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,001 shares of company stock valued at $3,080,226. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rambus

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of Rambus during the first quarter worth about $218,000. Intech Investment Management LLC lifted its holdings in Rambus by 39.2% in the 1st quarter. Intech Investment Management LLC now owns 80,473 shares of the semiconductor company's stock worth $4,166,000 after buying an additional 22,677 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Rambus by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company's stock worth $16,025,000 after buying an additional 19,120 shares during the last quarter. McIlrath & Eck LLC purchased a new position in shares of Rambus during the first quarter valued at approximately $42,000. Finally, Empowered Funds LLC increased its stake in shares of Rambus by 34.1% during the first quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company's stock valued at $1,178,000 after buying an additional 5,783 shares during the period. Hedge funds and other institutional investors own 88.54% of the company's stock.

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.