Rambus (NASDAQ:RMBS) Hits New 52-Week High - Still a Buy?

Key Points

• Rambus Inc. reached a new 52-week high during trading at $76.39, marking a significant increase from its previous close of $72.77.
• Analysts are optimistic about Rambus, with several firms, including Rosenblatt Securities, raising their target prices and giving the stock a "buy" rating, while its average target price is currently set at $77.71.
• Insider activity was noted as Director Emiko Higashi sold shares valued at approximately $83,325, resulting in a decrease in ownership position; total insider sales over the past ninety days reached $939,567.

Rambus, Inc. (NASDAQ:RMBS - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $76.39 and last traded at $76.36, with a volume of 543421 shares. The stock had previously closed at $72.77.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RMBS. Wall Street Zen lowered shares of Rambus from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Susquehanna increased their price target on Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a report on Tuesday, July 29th. Rosenblatt Securities increased their price target on Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, Jefferies Financial Group increased their price target on Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $77.71.

Rambus Stock Down 2.4%

The business has a fifty day simple moving average of $66.37 and a 200 day simple moving average of $58.66. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 35.00 and a beta of 1.28.

Insider Buying and Selling at Rambus

In other Rambus news, Director Necip Sayiner sold 7,500 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $73.53, for a total value of $551,475.00. Following the completion of the sale, the director owned 38,324 shares of the company's stock, valued at approximately $2,817,963.72. This trade represents a 16.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Emiko Higashi sold 1,075 shares of Rambus stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total value of $83,581.25. Following the transaction, the director directly owned 62,296 shares of the company's stock, valued at $4,843,514. This trade represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,186 shares of company stock valued at $1,023,149. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC raised its stake in shares of Rambus by 19.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock worth $261,000 after buying an additional 808 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Rambus by 53.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company's stock worth $554,000 after buying an additional 3,711 shares during the last quarter. KBC Group NV raised its stake in shares of Rambus by 18.9% during the 1st quarter. KBC Group NV now owns 4,765 shares of the semiconductor company's stock worth $247,000 after buying an additional 757 shares during the last quarter. Blair William & Co. IL acquired a new position in shares of Rambus during the 1st quarter worth $235,000. Finally, GAMMA Investing LLC raised its stake in shares of Rambus by 45.8% during the 1st quarter. GAMMA Investing LLC now owns 4,573 shares of the semiconductor company's stock worth $237,000 after buying an additional 1,436 shares during the last quarter. Institutional investors and hedge funds 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.