Rambus (NASDAQ:RMBS) Reaches New 12-Month High - What's Next?

Key Points

• Rambus, Inc. shares reached a new 52-week high of $84.38, up from a previous close of $77.11, with a trading volume of over 722,000 shares.
• Analysts have given Rambus a consensus rating of "Buy" with a target price of $79.38, with some upgrades including Arete's increase to a "buy" rating and a $91 target.
• A significant number of institutional investors own 88.54% of Rambus stock, reflecting strong institutional interest in the company.

Rambus, Inc. (NASDAQ:RMBS - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $83.31 and last traded at $84.38, with a volume of 722553 shares traded. The stock had previously closed at $77.11.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RMBS shares. Arete raised shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 target price on the stock in a research note on Thursday, August 28th. Wall Street Zen lowered shares of Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Rosenblatt Securities increased their target price on shares of Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Arete Research raised shares of Rambus to a "strong-buy" rating in a research note on Thursday, August 28th. Finally, Jefferies Financial Group increased their target price on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat, Rambus has an average rating of "Buy" and a consensus target price of $79.38.

Rambus Stock Performance

The stock has a market capitalization of $9.57 billion, a PE ratio of 41.71 and a beta of 1.38. The stock's 50 day moving average is $70.97 and its two-hundred day moving average is $59.90.

Insider Activity at Rambus

In other Rambus news, Director Necip Sayiner sold 7,500 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $73.53, for a total value of $551,475.00. Following the transaction, the director directly owned 38,324 shares of the company's stock, valued at $2,817,963.72. This trade represents a 16.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Emiko Higashi sold 1,111 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $75.00, for a total transaction of $83,325.00. Following the completion of the transaction, the director directly owned 63,371 shares in the company, valued at $4,752,825. This trade represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,686 shares of company stock valued at $933,541. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Rambus

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. increased its holdings in shares of Rambus by 37.1% during the 2nd quarter. Osaic Holdings Inc. now owns 11,620 shares of the semiconductor company's stock worth $702,000 after buying an additional 3,146 shares during the last quarter. Orion Porfolio Solutions LLC acquired a new stake in shares of Rambus during the 2nd quarter worth approximately $299,000. Thrivent Financial for Lutherans increased its holdings in shares of Rambus by 1.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 25,291 shares of the semiconductor company's stock worth $1,619,000 after buying an additional 303 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of Rambus by 41.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,737,062 shares of the semiconductor company's stock worth $111,207,000 after buying an additional 504,852 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Rambus by 132.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 15,601 shares of the semiconductor company's stock worth $999,000 after buying an additional 8,902 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.

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