Rambus Inc. (NASDAQ:RMBS) Receives $76.71 Consensus Target Price from Brokerages

Shares of Rambus Inc. (NASDAQ:RMBS - Get Free Report) have been assigned a consensus rating of "Buy" from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $76.71.

A number of equities research analysts recently weighed in on RMBS shares. Baird R W raised Rambus to a "strong-buy" rating in a research report on Monday, November 25th. 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. StockNews.com downgraded Rambus from a "buy" rating to a "hold" rating in a report on Wednesday. Robert W. Baird set a $90.00 price target on Rambus in a report on Monday, February 3rd. Finally, Loop Capital began coverage on Rambus in a report on Monday, November 11th. They issued a "buy" rating and a $70.00 price target for the company.

Rambus Stock Performance

RMBS stock traded up $2.30 during trading on Wednesday, reaching $54.88. 1,003,676 shares of the company traded hands, compared to its average volume of 1,006,338. Rambus has a 12 month low of $37.42 and a 12 month high of $69.15. The business has a 50 day simple moving average of $59.77 and a 200 day simple moving average of $52.12. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 33.06 and a beta of 1.25.

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Insider Transactions 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, Director Meera Rao sold 5,408 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the transaction, the director now owns 29,090 shares of the company's stock, valued at approximately $1,693,619.80. The trade was a 15.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,360 shares of company stock worth $4,182,809 over the last three months. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Rambus by 442.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company's stock valued at $288,042,000 after buying an additional 4,445,146 shares in the last quarter. Invesco Ltd. increased its position in shares of Rambus by 72.1% in the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock valued at $264,287,000 after buying an additional 2,093,953 shares in the last quarter. Norges Bank purchased a new stake in shares of Rambus in the fourth quarter valued at approximately $94,368,000. Raymond James Financial Inc. purchased a new stake in shares of Rambus in the fourth quarter valued at approximately $51,500,000. Finally, Congress Asset Management Co. purchased a new stake in shares of Rambus in the fourth quarter valued at approximately $45,778,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

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.