Rambus (NASDAQ:RMBS) Stock Rating Upgraded by Arete Research

Key Points

• Rambus has been upgraded to a "strong-buy" rating by Arete Research, with a new price objective set at $91.00.
• The stock has seen a series of positive adjustments from various analysts, with Rosenblatt Securities raising its target price to $90.00 and Susquehanna increasing it to $75.00.
• Institutional ownership of Rambus has grown significantly, with some firms increasing their stakes by over 100% in recent months.

Rambus (NASDAQ:RMBS - Get Free Report) was upgraded by equities researchers at Arete Research to a "strong-buy" rating in a note issued to investors on Thursday,Zacks.com reports.

RMBS has been the subject of a number of other research reports. Jefferies Financial Group boosted their price target on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Rosenblatt Securities boosted their price target on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Arete upgraded Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price target for the company in a report on Thursday, August 28th. Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Susquehanna boosted their price objective on shares of Rambus from $70.00 to $75.00 and gave the stock a "positive" 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 assigned a Buy rating to the company. Based on data from MarketBeat, Rambus currently has an average rating of "Buy" and an average price target of $79.38.

Rambus Stock Performance

Rambus stock traded down $0.28 during mid-day trading on Thursday, hitting $73.49. The company's stock had a trading volume of 1,387,012 shares, compared to its average volume of 1,119,923. The company has a 50 day moving average of $69.63 and a 200-day moving average of $59.46. The stock has a market cap of $7.91 billion, a PE ratio of 38.22 and a beta of 1.38. Rambus has a one year low of $37.42 and a one year high of $81.89.

Insider Buying and Selling at Rambus

In other Rambus news, Director Necip Sayiner sold 7,500 shares of the company's stock in a transaction 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 sale, the director directly owned 38,324 shares of the company's stock, valued at approximately $2,817,963.72. This represents a 16.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Emiko Higashi sold 1,111 shares of the company's 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 completion of the sale, the director directly owned 63,371 shares in the company, valued at approximately $4,752,825. The trade was a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,686 shares of company stock worth $718,381. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Rambus

Several hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in Rambus by 60.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company's stock valued at $452,870,000 after purchasing an additional 3,297,728 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in Rambus by 138.4% in the second quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company's stock valued at $178,445,000 after purchasing an additional 1,618,133 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Rambus by 1.3% in the second quarter. Geode Capital Management LLC now owns 2,687,691 shares of the semiconductor company's stock valued at $172,086,000 after purchasing an additional 35,744 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Rambus by 13.2% in the second quarter. Bank of New York Mellon Corp now owns 2,019,504 shares of the semiconductor company's stock valued at $129,289,000 after purchasing an additional 235,253 shares during the last quarter. Finally, Norges Bank purchased a new stake in Rambus in the second quarter valued at $126,268,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

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.