Rambus (NASDAQ:RMBS - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Sunday.
Several other equities research analysts have also recently weighed in on RMBS. Evercore ISI assumed coverage on shares of Rambus in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price target for the company. Susquehanna upped their target price on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a report on Tuesday, February 4th. Wells Fargo & Company lifted their price target on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Rosenblatt Securities restated a "buy" rating and set a $80.00 price objective on shares of Rambus in a research note on Tuesday, April 29th. Finally, Robert W. Baird set a $90.00 target price on Rambus in a research note on Monday, February 3rd. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $75.00.
Read Our Latest Analysis on Rambus
Rambus Trading Down 0.9 %
Shares of RMBS traded down $0.48 during midday trading on Friday, reaching $51.12. 119,091 shares of the stock were exchanged, compared to its average volume of 1,287,798. Rambus has a 52 week low of $37.43 and a 52 week high of $69.15. The company's 50 day moving average is $50.70 and its two-hundred day moving average is $54.80. The company has a market capitalization of $5.49 billion, a P/E ratio of 30.80 and a beta of 1.24.
Insider Buying and Selling at Rambus
In other news, COO Xianzhi Sean Fan sold 52,327 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the transaction, the chief operating officer now directly owns 93,841 shares in the company, valued at $6,383,064.82. This trade represents a 35.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Luc Seraphin sold 6,348 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total value of $298,165.56. Following the completion of the sale, the chief executive officer now owns 319,241 shares in the company, valued at approximately $14,994,749.77. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,300 shares of company stock worth $6,745,221. 1.00% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMBS. Lindbrook Capital LLC lifted its holdings in shares of Rambus by 12.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock valued at $80,000 after buying an additional 166 shares during the period. Mariner LLC lifted its holdings in Rambus by 1.4% in the fourth quarter. Mariner LLC now owns 12,473 shares of the semiconductor company's stock valued at $659,000 after acquiring an additional 167 shares during the period. Hillsdale Investment Management Inc. boosted its position in Rambus by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company's stock worth $2,400,000 after purchasing an additional 200 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Rambus by 0.7% during the 4th quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company's stock worth $1,651,000 after purchasing an additional 202 shares during the period. Finally, Nations Financial Group Inc. IA ADV increased its holdings in shares of Rambus by 2.8% during the 4th 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. 88.54% of the stock is currently owned by institutional investors and hedge funds.
About Rambus
(
Get Free Report)
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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