Rambus Inc. (NASDAQ:RMBS) Receives $76.71 Average PT from Brokerages

Rambus Inc. (NASDAQ:RMBS - Get Free Report) has been given a consensus recommendation of "Buy" by the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Seven 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 analysts that have issued ratings on the stock in the last year is $76.71.

A number of brokerages have commented on RMBS. Evercore ISI initiated coverage on Rambus in a report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price objective for the company. Wells Fargo & Company increased their price target on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. StockNews.com lowered shares of Rambus from a "buy" rating to a "hold" rating in a research note on Saturday. Robert W. Baird set a $90.00 price target on shares of Rambus in a research report on Monday, February 3rd. Finally, Susquehanna upped their price objective on shares of Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research report on Tuesday, February 4th.

Rambus Stock Up 3.2 %

RMBS stock traded up $1.58 during midday trading on Thursday, reaching $50.94. 942,524 shares of the company's stock traded hands, compared to its average volume of 1,299,725. Rambus has a 52 week low of $37.43 and a 52 week high of $69.15. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 30.69 and a beta of 1.20. The firm's fifty day moving average price is $52.28 and its 200-day moving average price is $54.42.

Insider Buying and Selling at Rambus

In other Rambus news, COO Xianzhi Sean Fan sold 52,327 shares of the 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the transaction, the director now owns 42,000 shares of the company's stock, valued at approximately $2,803,080. This trade represents a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,300 shares of company stock worth $6,745,221 over the last three months. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Rambus

Several institutional investors and hedge funds have recently bought and sold shares of the company. Lindbrook Capital LLC increased its holdings in shares of Rambus by 12.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock worth $80,000 after purchasing an additional 166 shares during the period. Mariner LLC boosted its holdings in shares of Rambus by 1.4% in the 4th quarter. Mariner LLC now owns 12,473 shares of the semiconductor company's stock worth $659,000 after purchasing an additional 167 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Rambus by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company's stock valued at $2,400,000 after purchasing an additional 200 shares during the last quarter. Arizona State Retirement System raised its holdings 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 valued at $1,651,000 after buying an additional 202 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its position in Rambus by 2.8% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company's stock worth $472,000 after buying an additional 246 shares during the last quarter. 88.54% of the stock is currently 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.