Rambus (NASDAQ:RMBS) Stock Price Up 5.7% - What's Next?

Rambus Inc. (NASDAQ:RMBS - Get Free Report) shot up 5.7% during mid-day trading on Wednesday . The stock traded as high as $62.25 and last traded at $63.10. 178,498 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,262,364 shares. The stock had previously closed at $59.70.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RMBS. Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research report on Monday, May 19th. Rosenblatt Securities reiterated a "buy" rating and set a $80.00 target price on shares of Rambus in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Rambus presently has a consensus rating of "Buy" and a consensus target price of $75.00.

Rambus Stock Down 4.2%

The company has a market cap of $6.24 billion, a PE ratio of 35.00 and a beta of 1.20. The company's fifty day moving average is $52.39 and its 200-day moving average is $55.67.

Insider Activity at Rambus

In other news, Director Steven Laub sold 3,653 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $55.56, for a total value of $202,960.68. Following the transaction, the director now directly owns 10,904 shares in the company, valued at $605,826.24. The trade was a 25.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total value of $537,900.00. Following the completion of the transaction, the chief executive officer now owns 316,931 shares of the company's stock, valued at $17,047,718.49. The trade was a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,848 shares of company stock worth $3,182,033. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rambus

Several hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in Rambus by 448.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,968 shares of the semiconductor company's stock valued at $215,000 after acquiring an additional 3,245 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Rambus by 160.3% in the fourth quarter. Empowered Funds LLC now owns 16,967 shares of the semiconductor company's stock worth $897,000 after purchasing an additional 10,450 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Rambus by 30.4% in the fourth quarter. Van ECK Associates Corp now owns 106,164 shares of the semiconductor company's stock worth $5,612,000 after buying an additional 24,723 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Rambus by 0.8% during the 4th quarter. Rhumbline Advisers now owns 331,966 shares of the semiconductor company's stock worth $17,548,000 after acquiring an additional 2,762 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its stake in Rambus by 2.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company's stock valued at $472,000 after purchasing an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

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.