Rambus (NASDAQ:RMBS) Price Target Raised to $120.00

Key Points

• Analysts at Robert W. Baird have increased their price target for Rambus (NASDAQ:RMBS) from $90.00 to $120.00, indicating a potential upside of 23.32% from the previous close.
• Rambus is currently rated as a "strong buy" by two analysts and has an average rating of "buy" across several reports, with a consensus target price of $83.13.
• Recent insider transactions saw a director selling 20,186 shares in total, reducing their overall holdings in the company.

Rambus (NASDAQ:RMBS - Get Free Report) had its target price lifted by Robert W. Baird from $90.00 to $120.00 in a note issued to investors on Monday, Marketbeat Ratings reports. The firm currently has an "outperform" rating on the semiconductor company's stock. Robert W. Baird's price objective would suggest a potential upside of 16.20% from the stock's current price.

Several other equities analysts have also commented on the stock. Arete upgraded shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective for the company in a research report on Thursday, August 28th. Jefferies Financial Group increased their price target on shares of Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Arete Research raised shares of Rambus to a "strong-buy" rating in a report on Thursday, August 28th. Rosenblatt Securities increased their price target on shares of Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen lowered Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $93.50.

Rambus Price Performance

Shares of NASDAQ:RMBS traded down $4.11 during mid-day trading on Monday, reaching $103.27. 1,938,084 shares of the company traded hands, compared to its average volume of 1,172,877. The firm has a market cap of $11.11 billion, a PE ratio of 48.74 and a beta of 1.38. The company's 50 day moving average price is $74.59 and its 200-day moving average price is $61.50. Rambus has a 52 week low of $38.15 and a 52 week high of $107.67.

Insider Buying and Selling

In related news, CFO Desmond Lynch sold 9,074 shares of the firm's 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 sale, the chief financial officer owned 64,430 shares in the company, valued at approximately $5,908,231. This trade represents a 12.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Emiko Higashi sold 1,075 shares of Rambus stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $77.75, for a total transaction of $83,581.25. Following the completion of the sale, the director directly owned 62,296 shares in the company, valued at $4,843,514. This represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,260 shares of company stock valued at $2,407,852 in the last three months. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Rambus

Several institutional investors have recently modified their holdings of RMBS. True Wealth Design LLC boosted its stake in shares of Rambus by 162.5% in the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 260 shares during the last quarter. Bessemer Group Inc. lifted its position in Rambus by 105.8% in the second quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company's stock valued at $30,000 after buying an additional 238 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Rambus during the 1st quarter worth about $25,000. Tsfg LLC acquired a new stake in Rambus during the 1st quarter worth approximately $26,000. Finally, Hantz Financial Services Inc. raised its position in Rambus by 1,386.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company's stock valued at $41,000 after purchasing an additional 596 shares in the last quarter. Institutional investors and hedge funds 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.