Rambus, Inc. (NASDAQ:RMBS) Receives $77.71 Average Target Price from Analysts

Key Points

• Rambus, Inc. has received an average recommendation of "Buy" from analysts, with seven out of eight brokerages rating it as such and an average 12-month target price of $77.71.
• Insider selling occurred as Director Steven Laub sold 3,653 shares, valued at approximately $202,960, resulting in a 25.09% decrease in his ownership of the stock.
• Institutional investors hold a significant stake in Rambus, with hedge funds and other institutional investors owning 88.54% of the company's stock after several notable increases in positions over the last quarter.

Shares of Rambus, Inc. (NASDAQ:RMBS - Get Free Report) have been assigned a consensus rating of "Buy" from the eight ratings firms that are currently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $77.7143.

Several research firms recently commented on RMBS. Susquehanna raised their target price on Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a research note on Tuesday, July 29th. Jefferies Financial Group raised their target price on Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Wall Street Zen cut Rambus from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, Rosenblatt Securities raised their price objective on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th.

Rambus Trading Down 3.6%

NASDAQ RMBS traded down $2.63 during trading hours on Friday, hitting $71.16. 603,308 shares of the company's stock were exchanged, compared to its average volume of 1,056,113. The stock has a 50-day simple moving average of $63.40 and a 200 day simple moving average of $57.98. Rambus has a 1-year low of $37.42 and a 1-year high of $76.20. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 33.64 and a beta of 1.28.

Insider Activity at Rambus

In other Rambus news, Director Emiko Higashi sold 1,111 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $75.00, for a total value of $83,325.00. Following the transaction, the director owned 63,371 shares of the company's stock, valued at approximately $4,752,825. The trade was a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven Laub sold 3,653 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $55.56, for a total value of $202,960.68. Following the completion of the transaction, the director directly owned 10,904 shares in the company, valued at approximately $605,826.24. This represents a 25.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,611 shares of company stock worth $388,092. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RMBS. LPL Financial LLC raised its stake in shares of Rambus by 16.9% in the fourth quarter. LPL Financial LLC now owns 63,364 shares of the semiconductor company's stock valued at $3,349,000 after buying an additional 9,183 shares during the period. Pictet Asset Management Holding SA raised its stake in shares of Rambus by 5.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 18,383 shares of the semiconductor company's stock valued at $972,000 after buying an additional 877 shares during the period. Arete Wealth Advisors LLC bought a new stake in shares of Rambus in the fourth quarter valued at $295,000. Wells Fargo & Company MN raised its stake in shares of Rambus by 28.2% in the fourth quarter. Wells Fargo & Company MN now owns 97,933 shares of the semiconductor company's stock valued at $5,177,000 after buying an additional 21,552 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Rambus by 86.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 73,938 shares of the semiconductor company's stock valued at $3,908,000 after buying an additional 34,193 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.