Rambus (NASDAQ:RMBS) Receives "Buy" Rating from Rosenblatt Securities

Rambus (NASDAQ:RMBS - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Rosenblatt Securities in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $80.00 price objective on the semiconductor company's stock. Rosenblatt Securities' price target points to a potential upside of 55.98% from the stock's previous close.

Several other research analysts have also commented on the company. StockNews.com lowered Rambus from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Evercore ISI assumed coverage on Rambus in a research report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price target for the company. Robert W. Baird set a $90.00 price objective on shares of Rambus in a report on Monday, February 3rd. Susquehanna upped their price target on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a report on Tuesday, February 4th. Finally, Wells Fargo & Company raised their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $75.00.

Rambus Price Performance

RMBS traded up $2.41 on Tuesday, reaching $51.29. 1,026,490 shares of the company's stock were exchanged, compared to its average volume of 1,293,372. The stock's fifty day moving average price is $51.06 and its 200-day moving average price is $54.64. Rambus has a twelve month low of $37.43 and a twelve month high of $69.15. The stock has a market cap of $5.51 billion, a PE ratio of 30.90 and a beta of 1.20.

Insider Activity at Rambus

In related news, CEO Luc Seraphin sold 10,000 shares of the company's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $46.81, for a total transaction of $468,100.00. Following the transaction, the chief executive officer now owns 336,844 shares of the company's stock, valued at $15,767,667.64. This represents a 2.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Xianzhi Sean Fan sold 52,327 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the transaction, the chief operating officer now directly owns 93,841 shares in the company, valued at approximately $6,383,064.82. This trade represents a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,300 shares of company stock worth $6,745,221 in the last 90 days. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Rambus

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tsfg LLC acquired a new stake in Rambus in the 1st quarter valued at about $26,000. UMB Bank n.a. increased its holdings in shares of Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock worth $28,000 after buying an additional 455 shares during the last quarter. Orion Capital Management LLC purchased a new position in shares of Rambus in the 4th quarter worth about $37,000. Skandinaviska Enskilda Banken AB publ raised its holdings in Rambus by 927.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock valued at $38,000 after buying an additional 640 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of Rambus by 1,260.3% during the 1st quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 794 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

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.