Rambus (NASDAQ:RMBS) Hits New 1-Year High - Here's Why

Rambus, Inc. (NASDAQ:RMBS - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $69.43 and last traded at $68.78, with a volume of 85806 shares traded. The stock had previously closed at $68.17.

Analyst Ratings Changes

RMBS has been the topic of several recent analyst reports. Wall Street Zen upgraded Rambus from a "buy" rating to a "strong-buy" rating in a research note on Friday. Rosenblatt Securities reiterated a "buy" rating and issued a $80.00 price target on shares of Rambus in a research note on Tuesday, April 29th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $75.00.

Rambus Stock Up 0.1%

The company has a 50 day simple moving average of $59.95 and a 200-day simple moving average of $56.90. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 35.53 and a beta of 1.24.

Insider Activity at Rambus

In other news, CEO Luc Seraphin sold 6,348 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $46.97, for a total transaction of $298,165.56. Following the sale, the chief executive officer directly owned 319,241 shares in the company, valued at approximately $14,994,749.77. This represents a 1.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Laub sold 1,847 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $55.12, for a total value of $101,806.64. Following the sale, the director owned 9,057 shares in the company, valued at $499,221.84. The trade was a 16.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,848 shares of company stock worth $602,933 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Rambus

Large investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise acquired a new stake in Rambus in the 1st quarter valued at approximately $25,000. Tsfg LLC bought a new position in Rambus during the 1st quarter valued at $26,000. Orion Capital Management LLC bought a new position in Rambus during the 4th quarter valued at $37,000. McIlrath & Eck LLC bought a new position in Rambus during the 1st quarter valued at $42,000. Finally, Larson Financial Group LLC boosted its stake in Rambus by 1,260.3% during the 1st quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 794 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

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.