Rambus Inc. (NASDAQ:RMBS - Get Free Report) has been given an average rating of "Buy" by the eight research firms that are covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $76.71.
Several research firms recently commented on RMBS. Evercore ISI assumed coverage on shares of Rambus in a research note on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price objective for the company. StockNews.com downgraded Rambus from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Wells Fargo & Company raised their price objective on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Rosenblatt Securities upped their target price on Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Finally, Susquehanna raised 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.
Read Our Latest Report on Rambus
Insider Buying and Selling at Rambus
In related news, COO Xianzhi Sean Fan sold 52,327 shares of the company's stock in a transaction that occurred on 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 sale, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. This represents a 35.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the firm'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 transaction of $537,900.00. Following the transaction, the chief executive officer now directly owns 316,931 shares of the company's stock, valued at $17,047,718.49. This represents a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,952 shares of company stock worth $4,992,255. 1.00% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Rambus
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMBS. UMB Bank n.a. boosted its stake in shares of Rambus by 554.9% in the fourth 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 acquired a new position in Rambus in the fourth quarter valued at approximately $37,000. Skandinaviska Enskilda Banken AB publ boosted its position in Rambus by 927.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 640 shares in the last quarter. Quarry LP grew its stake in shares of Rambus by 40.3% during the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 264 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock valued at $60,000 after purchasing an additional 891 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.
Rambus Stock Down 10.6 %
RMBS stock traded down $5.58 during trading on Friday, hitting $47.10. 635,838 shares of the company's stock traded hands, compared to its average volume of 1,293,736. The business has a fifty day simple moving average of $58.71 and a two-hundred day simple moving average of $53.67. The firm has a market capitalization of $5.06 billion, a P/E ratio of 28.37 and a beta of 1.25. Rambus has a 1 year low of $37.43 and a 1 year high of $69.15.
About Rambus
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Get Free ReportRambus 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.
Further Reading
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