Rambus Inc. (NASDAQ:RMBS) Receives $75.00 Average PT from Brokerages

Shares of Rambus Inc. (NASDAQ:RMBS - Get Free Report) have earned an average recommendation of "Buy" from the seven brokerages that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $75.00.

RMBS has been the topic of several recent research reports. Wall Street Zen cut shares of Rambus from a "buy" rating to a "hold" rating in a research note on Monday, May 19th. Rosenblatt Securities restated a "buy" rating and issued a $80.00 price target on shares of Rambus in a research report on Tuesday, April 29th.

Rambus Trading Down 4.2%

NASDAQ:RMBS traded down $2.56 during mid-day trading on Friday, reaching $58.10. 892,400 shares of the stock were exchanged, compared to its average volume of 1,265,733. The business has a fifty day moving average price of $52.09 and a 200 day moving average price of $55.67. Rambus has a 1-year low of $37.43 and a 1-year high of $69.15. The firm has a market capitalization of $6.24 billion, a PE ratio of 35.00 and a beta of 1.20.

Insider Buying and Selling at Rambus

In related news, Director Steven Laub sold 3,653 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $55.56, for a total transaction of $202,960.68. Following the transaction, the director now directly owns 10,904 shares of the company's stock, valued at approximately $605,826.24. The trade was a 25.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $58.64, for a total transaction of $586,400.00. Following the completion of the sale, the chief executive officer now owns 306,931 shares of the company's stock, valued at approximately $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 ninety days, insiders sold 61,848 shares of company stock valued at $3,182,033. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rambus

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lindbrook Capital LLC raised its holdings in shares of Rambus by 12.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock worth $80,000 after acquiring an additional 166 shares in the last quarter. Mariner LLC increased its position in Rambus by 1.4% in the 4th quarter. Mariner LLC now owns 12,473 shares of the semiconductor company's stock worth $659,000 after purchasing an additional 167 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Rambus by 2.0% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 9,104 shares of the semiconductor company's stock valued at $471,000 after buying an additional 179 shares during the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of Rambus by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company's stock valued at $2,400,000 after buying an additional 200 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Rambus by 0.7% in the 4th quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company's stock valued at $1,651,000 after buying an additional 202 shares in the last quarter. 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.