Rambus (NASDAQ:RMBS) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Key Points

• Rambus's stock price target was raised by Rosenblatt Securities from $90.00 to $130.00, indicating a potential upside of 33.95% from its previous close.
• Other analysts, including Evercore ISI and Robert W. Baird, also increased their price targets for Rambus, highlighting a broad consensus on the company's positive outlook.
• Insider activity showed significant stock sales, with the CFO selling 9,074 shares and the Director selling 7,500 shares, signaling possible changes in investor sentiment among company executives.

Rambus (NASDAQ:RMBS - Get Free Report) had its target price lifted by research analysts at Rosenblatt Securities from $90.00 to $130.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor company's stock. Rosenblatt Securities' price objective points to a potential upside of 27.02% from the company's previous close.

RMBS has been the topic of several other reports. Susquehanna upped their target price on shares of Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a research report on Tuesday, July 29th. Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Arete raised shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective on the stock in a research note on Thursday, August 28th. Robert W. Baird upped their price objective on shares of Rambus from $90.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, September 15th. Finally, Jefferies Financial Group upped their price objective on shares of Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Two analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $93.50.

Rambus Stock Performance

RMBS traded down $5.03 on Wednesday, hitting $102.35. 9,561,482 shares of the company were exchanged, compared to its average volume of 1,983,657. The business's fifty day moving average is $75.36 and its 200 day moving average is $61.90. Rambus has a fifty-two week low of $38.15 and a fifty-two week high of $107.67. The firm has a market capitalization of $11.01 billion, a P/E ratio of 48.28 and a beta of 1.38.

Insider Activity at Rambus

In other Rambus news, Director Emiko Higashi sold 1,111 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $75.00, for a total transaction of $83,325.00. Following the transaction, the director directly owned 63,371 shares in the company, valued at $4,752,825. This represents a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Desmond Lynch sold 9,074 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $91.70, for a total transaction of $832,085.80. Following the transaction, the chief financial officer owned 64,430 shares in the company, valued at $5,908,231. This trade represents a 12.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,260 shares of company stock valued at $2,407,852. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Rambus by 10.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 182,940 shares of the semiconductor company's stock worth $9,472,000 after buying an additional 17,282 shares during the last quarter. Park West Asset Management LLC bought a new stake in Rambus in the 1st quarter valued at about $30,503,000. Sequoia Financial Advisors LLC lifted its position in Rambus by 19.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock valued at $261,000 after purchasing an additional 808 shares during the last quarter. Blair William & Co. IL bought a new stake in Rambus in the 1st quarter valued at about $235,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Rambus by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company's stock valued at $554,000 after purchasing an additional 3,711 shares during the last quarter. 88.54% of the stock is currently owned by 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.