Rambus (NASDAQ:RMBS) Reaches New 52-Week High - What's Next?

Key Points

• Rambus, Inc. shares reached a new 52-week high, trading at $109.15 before closing at $102.62, with a trading volume of approximately 3.77 million shares.
• Multiple analysts have upgraded Rambus' stock ratings, with price targets ranging from $75.00 to as high as $120.00, indicating positive growth potential.
• Insider trading activity showed notable sales, with directors selling shares, leading to a decrease in their ownership by 9.11% and 1.72% respectively.

Rambus, Inc. (NASDAQ:RMBS - Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as $109.15 and last traded at $102.62, with a volume of 3771395 shares trading hands. The stock had previously closed at $106.93.

Analysts Set New Price Targets

A number of analysts have recently commented on RMBS shares. Arete Research upgraded Rambus to a "strong-buy" rating in a report on Thursday, August 28th. Susquehanna boosted their price target on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research report on Tuesday, July 29th. Jefferies Financial Group raised their price objective on Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Robert W. Baird boosted their target price on Rambus from $90.00 to $120.00 and gave the stock an "outperform" rating in a report on Monday, September 15th. Finally, Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Two analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $93.50.

Rambus Trading Down 4.0%

The stock has a market capitalization of $11.04 billion, a P/E ratio of 48.41 and a beta of 1.38. The stock's 50 day simple moving average is $76.99 and its 200 day simple moving average is $62.61.

Insider Buying and Selling at Rambus

In related news, Director Meera Rao sold 3,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $71.72, for a total transaction of $215,160.00. Following the completion of the sale, the director owned 29,914 shares of the company's stock, valued at $2,145,432.08. This represents a 9.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Emiko Higashi sold 1,111 shares of the firm's stock in a transaction dated 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 represents a 1.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,260 shares of company stock valued at $2,407,852. Corporate insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Tealwood Asset Management Inc. lifted its stake in Rambus by 0.7% in the second quarter. Tealwood Asset Management Inc. now owns 20,460 shares of the semiconductor company's stock valued at $1,310,000 after buying an additional 150 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Rambus by 14.8% in the 2nd quarter. Signaturefd LLC now owns 1,288 shares of the semiconductor company's stock worth $82,000 after acquiring an additional 166 shares during the period. Nations Financial Group Inc. IA ADV lifted its position in Rambus by 2.0% in 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 purchasing an additional 179 shares during the last quarter. Dakota Wealth Management boosted its stake in Rambus by 3.4% during the 2nd quarter. Dakota Wealth Management now owns 5,681 shares of the semiconductor company's stock valued at $364,000 after purchasing an additional 189 shares during the period. Finally, Evergreen Capital Management LLC boosted its stake in Rambus by 3.3% during the 1st quarter. Evergreen Capital Management LLC now owns 7,333 shares of the semiconductor company's stock valued at $380,000 after purchasing an additional 234 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.